SHE:002031 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	-303.89	-208.57	-30.6	37.8	-469.13	-160.38
Depreciation & Amortization	124.25	124.25	112.24	118.66	129.56	138.47
Other Amortization	0.66	0.66	-	0.36	0.56	0.56
Loss (Gain) From Sale of Assets	-0.15	-0.15	0.07	3.26	7.98	-0.43
Asset Writedown & Restructuring Costs	18.6	18.6	0	0.08	0	90.23
Loss (Gain) From Sale of Investments	14.58	14.58	12.86	-44.95	372.97	64.99
Provision & Write-off of Bad Debts	12.35	12.35	-17.45	-	-0.04	2.93
Other Operating Activities	614	134.77	30.88	-4.79	186.07	216.45
Change in Accounts Receivable	-178.9	-178.9	-76.16	125.48	-178.92	-83.27
Change in Inventory	-115.57	-115.57	18.25	98.73	215.71	-153.1
Change in Accounts Payable	99.06	99.06	-167.16	-280.16	70.32	3.43
Operating Cash Flow	269.22	-114.69	-116.89	44.99	303.36	113.33
Operating Cash Flow Growth	-	-	-	-85.17%	167.67%	-74.73%
Capital Expenditures	-254.12	-231.03	-482.53	-464	-316.15	-223.35
Sale of Property, Plant & Equipment	0.45	0.77	0.11	2.08	1.32	44.58
Divestitures	-0.08	37.83	135.24	154.59	224.03	98.56
Investment in Securities	-	-85.5	-	-0.38	47.08	-38.55
Other Investing Activities	-104.84	168.04	1.22	0.82	-307.52	-641.56
Investing Cash Flow	-252.9	-4.19	467.7	181.76	-351.24	-760.32
Long-Term Debt Issued	-	967.5	949.2	1,282	7,761	7,519
Long-Term Debt Repaid	-	-958.9	-1,034	-1,362	-8,149	-6,719
Net Debt Issued (Repaid)	-80.67	8.6	-85.12	-80.54	-388.57	800.59
Common Dividends Paid	-64.93	-68.59	-70.4	-77.67	-88.68	-75.3
Other Financing Activities	-7.41	-19.82	16.97	51.24	428.18	-7.98
Financing Cash Flow	-153.01	-79.81	-138.55	-106.97	-49.07	717.31
Foreign Exchange Rate Adjustments	1.48	1.87	0.36	0.08	-4.02	-0.27
Net Cash Flow	-135.2	-196.82	212.61	119.85	-100.97	70.05
Free Cash Flow	15.1	-345.72	-599.42	-419.01	-12.8	-110.02
Free Cash Flow Margin	2.19%	-35.19%	-74.63%	-42.33%	-0.58%	-6.56%
Free Cash Flow Per Share	0.01	-0.16	-0.27	-0.19	-0.01	-0.05
Cash Interest Paid	0.23	0.23	0.26	0.42	0.65	0.79
Cash Income Tax Paid	22.17	34.28	31.4	-5.96	94.16	18.24
Levered Free Cash Flow	-122.19	-258.09	-341.39	-388.23	1,667	-945.28
Unlevered Free Cash Flow	-81.14	-214.68	-303.53	-346.55	1,725	-895.35
Change in Working Capital	-211.18	-211.18	-224.89	-65.44	75.39	-239.5

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.