SHE:001396 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	132.66	127.23	100.38	80.52
Depreciation & Amortization	23.17	24.19	24.71	22.96
Other Amortization	1.16	1.58	1.39	1.05
Loss (Gain) From Sale of Assets	-0.18	-0.07	-0.07	-
Asset Writedown & Restructuring Costs	10.08	0.42	0.11	0.09
Loss (Gain) From Sale of Investments	-	-	-	-0.72
Provision & Write-off of Bad Debts	36.42	53.44	33.88	25.41
Other Operating Activities	5.44	9.77	1.26	3.41
Change in Accounts Receivable	-192.49	-303.79	-229.43	-195.76
Change in Inventory	-1.09	3.13	2.26	0
Change in Accounts Payable	46.06	62.29	30.08	-11.82
Operating Cash Flow	54.92	-32.14	-41.39	-77.15
Capital Expenditures	-18.06	-11.73	-6.05	-21.69
Sale of Property, Plant & Equipment	0.02	0.04	0.3	0.04
Other Investing Activities	-	-	-	0.72
Investing Cash Flow	-18.04	-11.69	-5.75	-20.94
Long-Term Debt Issued	-	224.62	114	68.84
Long-Term Debt Repaid	-	-132.5	-73.84	-63.09
Net Debt Issued (Repaid)	-1.12	92.12	40.16	5.74
Common Dividends Paid	-5.82	-5.27	-3.17	-2.44
Other Financing Activities	-14.14	-11.93	-13.97	-16.52
Financing Cash Flow	-21.08	74.92	23.02	-13.22
Miscellaneous Cash Flow Adjustments	-	-0	0	-0
Net Cash Flow	15.8	31.08	-24.13	-111.31
Free Cash Flow	36.86	-43.87	-47.44	-98.84
Free Cash Flow Margin	4.90%	-6.01%	-7.53%	-19.27%
Free Cash Flow Per Share	0.46	-0.55	-0.59	-1.23
Cash Income Tax Paid	68.2	47.9	41.44	33.56
Levered Free Cash Flow	-	-85.02	-73.02	-
Unlevered Free Cash Flow	-	-80.9	-70.23	-
Change in Working Capital	-153.82	-248.71	-203.05	-209.89

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