SHE:001299 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	103.67	102.49	87.3	81.81	94.22	101.5
Depreciation & Amortization	28.26	28.26	25.71	24.8	24.8	23.6
Other Amortization	0.47	0.47	-	-	-	-
Loss (Gain) on Sale of Assets	-1.82	-1.82	-1.8	-	-	-0
Loss (Gain) on Sale of Investments	-23.92	-23.92	-22.78	-21.06	-11.87	-21.35
Asset Writedown	1.73	1.73	0.28	0.12	0	1.64
Change in Accounts Receivable	-15.63	-15.63	9.4	-23.97	-8.07	-6.04
Change in Inventory	2.35	2.35	0.66	-1.86	6.4	3.26
Change in Accounts Payable	-1.44	-1.44	-5.57	27.74	31.99	9.8
Change in Other Net Operating Assets	-3.24	-3.24	6.24	-	-	-
Other Operating Activities	17.19	0.05	-0.78	-0.21	-0.04	0.1
Operating Cash Flow	107.47	89.15	99.76	91.71	138.18	112.25
Operating Cash Flow Growth	-9.49%	-10.64%	8.78%	-33.63%	23.10%	-11.16%
Capital Expenditures	-108.02	-99.35	-73.86	-34.41	-27.47	-39.01
Sale of Property, Plant & Equipment	0	0	9.51	0	-	0
Investment in Securities	146.93	2.13	-539.26	262.61	-104.15	-32.87
Other Investing Activities	16.39	15.84	18.63	12.85	10.26	3.34
Investing Cash Flow	55.31	-81.38	-584.98	241.05	-121.36	-68.53
Long-Term Debt Repaid	-	-2.11	-2.08	-1.63	-1.21	-1.59
Net Debt Issued (Repaid)	-2.11	-2.11	-2.08	-1.63	-1.21	-1.59
Issuance of Common Stock	-	-	-	-	469.91	-
Repurchase of Common Stock	-	-	-46.32	-	-	-
Common Dividends Paid	-182.71	-182.67	-56.02	-	-	-
Other Financing Activities	0.98	-0.09	-	-1	-12.05	2.4
Financing Cash Flow	-183.83	-184.87	-104.42	-2.63	456.65	0.81
Net Cash Flow	-21.05	-177.1	-589.64	330.13	473.47	44.53
Free Cash Flow	-0.54	-10.2	25.9	57.3	110.71	73.24
Free Cash Flow Growth	-	-	-54.80%	-48.24%	51.15%	-12.87%
Free Cash Flow Margin	-0.08%	-1.41%	3.89%	9.95%	20.13%	15.28%
Free Cash Flow Per Share	-0.00	-0.03	0.08	0.18	0.44	0.31
Cash Income Tax Paid	42.14	43.15	32.31	37.04	35.56	35.79
Levered Free Cash Flow	-10.17	19.37	18.48	52.34	91.74	48.44
Unlevered Free Cash Flow	-9.95	19.59	18.67	52.42	91.85	48.55
Change in Working Capital	-19.75	-19.75	10.15	1.98	29.87	6.78

Source: S&P Global Market Intelligence. Utility template. Financial Sources.