SHE:002017 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	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	183.32	189.81	171.84	91.74	43.46	35.46
Depreciation & Amortization	31.26	31.26	32.25	35.33	36.31	42.46
Other Amortization	0.48	0.48	-	-	0.67	0.29
Loss (Gain) From Sale of Assets	0	0	-	0.68	0.6	1.96
Asset Writedown & Restructuring Costs	-0.11	-0.11	0	-	-	10.38
Loss (Gain) From Sale of Investments	-0.46	-0.46	-1.18	-0.38	3.85	2.47
Provision & Write-off of Bad Debts	-0.46	-0.46	-1.69	1.96	-0.1	-
Other Operating Activities	20.51	24.1	52.96	56.33	7.87	11.82
Change in Accounts Receivable	23.05	23.05	81.55	67.8	-57.05	20.45
Change in Inventory	52.41	52.41	-98.03	-274.32	55.93	68.77
Change in Accounts Payable	-125.33	-125.33	0.82	299.64	127.19	-57.56
Operating Cash Flow	186.85	196.93	239.02	272.97	219.59	135.27
Operating Cash Flow Growth	-37.47%	-17.61%	-12.44%	24.30%	62.34%	-25.07%
Capital Expenditures	-26.32	-24.55	-31.23	-24.56	-31.39	-24.97
Sale of Property, Plant & Equipment	0.12	0.12	0.02	0.17	0.07	0.39
Divestitures	-	-	-	3.89	-	-
Investment in Securities	2	2	-	-	-	15.82
Other Investing Activities	0.33	-	3	-	-	-
Investing Cash Flow	-23.87	-22.42	-28.2	-20.51	-31.31	-8.76
Short-Term Debt Issued	-	-	-	51.01	52.15	50
Total Debt Issued	-	-	-	51.01	52.15	50
Short-Term Debt Repaid	-	-	-56.4	-38.25	-12.97	-50
Long-Term Debt Repaid	-	-1.96	-0.6	-0.46	-0.74	-
Total Debt Repaid	-1.96	-1.96	-57.01	-38.71	-13.71	-50
Net Debt Issued (Repaid)	-1.96	-1.96	-57.01	12.29	38.44	-
Common Dividends Paid	-95.9	-87.77	-44.76	-23.53	-13.91	-14.21
Other Financing Activities	-2.92	-4.76	-5.82	-1.5	-	-
Financing Cash Flow	-100.78	-94.49	-107.59	-12.74	24.53	-14.21
Foreign Exchange Rate Adjustments	-1.03	1.45	1.47	6.5	-1.12	-3.54
Net Cash Flow	61.18	81.46	104.7	246.22	211.69	108.76
Free Cash Flow	160.53	172.38	207.79	248.41	188.21	110.3
Free Cash Flow Growth	-41.28%	-17.04%	-16.35%	31.99%	70.63%	-29.20%
Free Cash Flow Margin	12.53%	12.45%	15.03%	19.32%	17.55%	10.38%
Free Cash Flow Per Share	0.28	0.30	0.36	0.43	0.32	0.19
Cash Income Tax Paid	41.18	38.1	50.4	67.81	30.83	24.49
Levered Free Cash Flow	73.56	102.91	131.11	193.71	139.24	92.89
Unlevered Free Cash Flow	73.7	103.08	131.26	194.47	139.58	93.41
Change in Working Capital	-47.7	-47.7	-15.16	87.3	126.94	30.43

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