SHE:002033 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	210.52	210.87	227.41	3.75	-37.8	70.49
Depreciation & Amortization	92.92	92.92	87.29	83.75	81.9	82.69
Other Amortization	7.28	7.28	6.41	5.56	5.07	6.66
Loss (Gain) From Sale of Assets	0.02	0.02	-1.42	-6.05	0.04	0.1
Asset Writedown & Restructuring Costs	4.73	4.73	5.87	1.26	0.04	0.14
Loss (Gain) From Sale of Investments	-16.13	-16.13	-15.17	-10.49	6.21	-2.94
Provision & Write-off of Bad Debts	-0.38	-0.38	-1.2	2.78	0.18	0.41
Other Operating Activities	64.21	25.63	24.48	-3.18	1.03	4.44
Change in Accounts Receivable	-0.14	-0.14	-5.74	23.5	-2.34	8.19
Change in Inventory	3.3	3.3	0.95	-4.62	-1.18	-0.93
Change in Accounts Payable	1.65	1.65	75.99	20.79	-51.86	-7.38
Change in Other Net Operating Assets	-0.33	-0.33	-0.81	-	-	-
Operating Cash Flow	367.36	329.13	405.41	116.6	1.49	161.38
Operating Cash Flow Growth	14.46%	-18.82%	247.70%	7737.72%	-99.08%	-44.96%
Capital Expenditures	-135.17	-137.15	-152.63	-149.44	-207.68	-157.11
Sale of Property, Plant & Equipment	0.17	0.18	0.51	0.04	0.09	0.14
Cash Acquisitions	-	-	-3.95	-	-	-
Investment in Securities	-321.72	127.92	-115	20.1	-51.2	100
Other Investing Activities	-10	16.35	3.54	4.83	81.4	13.24
Investing Cash Flow	-466.72	7.3	-267.52	-124.46	-177.39	-43.73
Long-Term Debt Repaid	-	-1.07	-0.27	-1.17	-	-
Net Debt Issued (Repaid)	-1.07	-1.07	-0.27	-1.17	-	-
Issuance of Common Stock	74.29	-	-	-	-	-
Common Dividends Paid	-194.72	-192.32	-137.37	-	-109.9	-65.94
Other Financing Activities	-23.3	-22.34	1	-2.05	-8.78	-33.98
Financing Cash Flow	-144.8	-215.73	-136.64	-3.22	-118.68	-99.92
Net Cash Flow	-244.17	120.69	1.24	-11.08	-294.58	17.74
Free Cash Flow	232.19	191.98	252.78	-32.84	-206.19	4.27
Free Cash Flow Growth	44.81%	-24.05%	-	-	-	-93.10%
Free Cash Flow Margin	27.89%	23.75%	31.64%	-10.37%	-57.54%	0.99%
Free Cash Flow Per Share	0.42	0.35	0.46	-0.06	-0.38	0.01
Cash Income Tax Paid	142.41	152.63	151.13	10.26	54.56	36.56
Levered Free Cash Flow	-12.34	208.37	207.29	-44.11	-131.93	17.91
Unlevered Free Cash Flow	-12.51	208.2	207.13	-43.91	-131.76	17.91
Change in Working Capital	4.19	4.19	71.73	39.21	-55.18	-0.62

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