SHE:001378 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	82.58	93.05	121.36	163.91	191.3
Depreciation & Amortization	57.73	52.61	33.23	31.7	30.99
Other Amortization	1.58	2.01	1.37	1.46	2.02
Loss (Gain) From Sale of Assets	-0.01	0.07	0.01	-0	-
Asset Writedown & Restructuring Costs	0.71	0.09	0.02	0.05	0.22
Loss (Gain) From Sale of Investments	-16.04	-7.34	-1.86	-2.14	-3.81
Provision & Write-off of Bad Debts	-	0.41	0.77	-0.17	0.21
Other Operating Activities	-0.65	7.91	2.11	1.25	4.48
Change in Accounts Receivable	-8.2	-97.68	-39.57	14.17	7.23
Change in Inventory	30.74	-4.55	-25.48	4.44	-17.47
Change in Accounts Payable	65.08	63	62.44	8.76	17.71
Operating Cash Flow	209.13	110.88	156.96	226.58	232.52
Operating Cash Flow Growth	88.61%	-29.36%	-30.73%	-2.56%	237.42%
Capital Expenditures	-283.76	-169.84	-417.4	-237.91	-47.49
Sale of Property, Plant & Equipment	0.32	0.09	0.04	0.01	-
Investment in Securities	15.23	-395.83	-	162.5	-162.5
Other Investing Activities	8.06	2.44	6.71	-1.81	3.41
Investing Cash Flow	-260.15	-563.14	-410.65	-77.21	-206.58
Long-Term Debt Issued	73.4	102.02	246.82	124.74	20.14
Long-Term Debt Repaid	-67.21	-390.26	-28.03	-30.59	-70.57
Total Debt Repaid	-67.21	-390.26	-28.03	-30.59	-70.57
Net Debt Issued (Repaid)	6.19	-288.24	218.79	94.15	-50.43
Issuance of Common Stock	-	-	979.97	-	-
Common Dividends Paid	-85.25	-91.48	-0.99	-0.46	-1.44
Other Financing Activities	-4.15	13.53	-30.93	-13.97	1.06
Financing Cash Flow	-83.2	-366.19	1,167	79.72	-50.81
Foreign Exchange Rate Adjustments	-0.79	-1.45	0.77	1.48	-0.11
Net Cash Flow	-135.01	-819.9	913.92	230.56	-24.97
Free Cash Flow	-74.63	-58.95	-260.44	-11.33	185.04
Free Cash Flow Growth	-	-	-	-	252.62%
Free Cash Flow Margin	-5.05%	-3.88%	-21.37%	-0.88%	14.08%
Free Cash Flow Per Share	-0.56	-0.44	-2.47	-0.11	1.85
Cash Income Tax Paid	14.46	2.16	7.23	39.9	58.52
Levered Free Cash Flow	-205.93	-111.86	-296.38	-73.85	127.92
Unlevered Free Cash Flow	-205.93	-106.62	-294.76	-73.24	129.12
Change in Working Capital	83.22	-37.93	-0.05	30.53	7.12

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