SHE:002003 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	700.33	558.11	488.65	448.64
Depreciation & Amortization	282.03	244.2	226.01	192.53
Other Amortization	15.96	9.86	11	9.04
Loss (Gain) From Sale of Assets	0.65	-20.94	0.75	4.06
Asset Writedown & Restructuring Costs	2.59	3.27	22.26	6.94
Loss (Gain) From Sale of Investments	-15.29	-17.58	-10.21	-11.94
Provision & Write-off of Bad Debts	4.52	6.67	-3.46	12.18
Other Operating Activities	31.28	27.47	-21.25	19.56
Change in Accounts Receivable	-57.08	-226.76	35.79	-120.62
Change in Inventory	-119.24	-51.88	-29.37	-220.27
Change in Accounts Payable	228.38	121.37	7.7	273.8
Change in Other Net Operating Assets	26.46	36.99	56.56	23.6
Operating Cash Flow	1,090	687.64	794.81	634.43
Operating Cash Flow Growth	58.50%	-13.48%	25.28%	4.08%
Capital Expenditures	-765.79	-671.24	-734.19	-449.65
Sale of Property, Plant & Equipment	7.48	35.43	54.03	4.25
Investment in Securities	-0.93	-13.21	-53.61	-51.85
Other Investing Activities	4.35	-8.7	1.44	0.33
Investing Cash Flow	-754.88	-657.71	-732.33	-496.92
Long-Term Debt Issued	1,859	2,079	1,094	524.19
Total Debt Issued	1,859	2,079	1,094	524.19
Long-Term Debt Repaid	-1,717	-2,316	-608.69	-434.43
Total Debt Repaid	-1,717	-2,316	-608.69	-434.43
Net Debt Issued (Repaid)	142.63	-236.96	485.62	89.76
Issuance of Common Stock	-	1,184	-	97.68
Repurchase of Common Stock	-0.72	-0.03	-	-
Common Dividends Paid	-789.72	-399.34	-422.18	-320.44
Other Financing Activities	-	-6.15	-1.18	-28.47
Financing Cash Flow	-647.81	541.44	62.27	-161.46
Foreign Exchange Rate Adjustments	9.83	12.43	62.79	-15.15
Net Cash Flow	-302.96	583.8	187.54	-39.1
Free Cash Flow	324.12	16.4	60.62	184.78
Free Cash Flow Growth	1875.78%	-72.94%	-67.19%	-34.18%
Free Cash Flow Margin	6.93%	0.42%	1.67%	5.51%
Free Cash Flow Per Share	0.28	0.02	0.06	0.18
Cash Income Tax Paid	326.96	239.35	274.84	202.72
Levered Free Cash Flow	-39.19	-207.2	-67.08	99.94
Unlevered Free Cash Flow	-18.88	-185.26	-50.84	110.01
Change in Working Capital	67.84	-123.43	81.06	-46.56

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