SHE:002041 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	52.04	56.63	255.78	253.22	232.8	101.96
Depreciation & Amortization	67.48	67.48	65.03	69.34	67.83	71.74
Other Amortization	0.82	0.82	0.16	0.25	0.17	2.34
Loss (Gain) From Sale of Assets	0.73	0.73	-0.59	0.36	0.8	1.02
Asset Writedown & Restructuring Costs	0.16	0.16	0.25	0.02	1.31	2.28
Loss (Gain) From Sale of Investments	-36.66	-36.66	-51.15	-52.62	-52.52	-49.54
Provision & Write-off of Bad Debts	-0.64	-0.64	3.63	1.2	1.27	0.36
Other Operating Activities	249.72	157.74	52.2	43.72	-5.73	-25.07
Change in Accounts Receivable	42.17	42.17	44.18	-111.63	-20.1	2.87
Change in Inventory	-115.34	-115.34	-63.12	-310.26	-77.77	171.24
Change in Accounts Payable	-17.28	-17.28	-127.49	145.25	217.41	70.54
Operating Cash Flow	215.53	128.14	178.89	38.87	365.49	369.44
Operating Cash Flow Growth	1351.62%	-28.37%	360.24%	-89.37%	-1.07%	79.03%
Capital Expenditures	-77.83	-134.79	-119.06	-79.86	-67.58	-33.32
Sale of Property, Plant & Equipment	6.5	0.06	0.4	9.5	9.1	3.66
Divestitures	-	-	-	-0.14	-	-
Investment in Securities	44.46	-28.62	-69.35	70.25	-294.81	-281.77
Other Investing Activities	37.41	48.75	51.66	60.27	54.34	59.7
Investing Cash Flow	10.54	-114.59	-136.35	60.03	-298.96	-251.73
Short-Term Debt Issued	-	-	-	30.63	16.71	5
Long-Term Debt Issued	-	46.94	22.54	-	-	4.03
Total Debt Issued	62.24	46.94	22.54	30.63	16.71	9.03
Short-Term Debt Repaid	-	-	-	-18.91	-15.28	-5.01
Long-Term Debt Repaid	-	-25.01	-13.85	-0.06	-	-5.29
Total Debt Repaid	-46.81	-25.01	-13.85	-18.97	-15.28	-10.3
Net Debt Issued (Repaid)	15.42	21.92	8.69	11.66	1.43	-1.27
Common Dividends Paid	-25.9	-31.68	-0.5	-32.42	-30.8	-52.8
Other Financing Activities	-2.92	-1.23	-1.23	-1.9	-3.27	-4.64
Financing Cash Flow	-13.4	-10.98	6.96	-22.67	-32.64	-58.71
Net Cash Flow	212.67	2.56	49.5	76.23	33.89	59.01
Free Cash Flow	137.7	-6.65	59.83	-40.99	297.9	336.12
Free Cash Flow Growth	-	-	-	-	-11.37%	114.78%
Free Cash Flow Margin	11.66%	-0.53%	3.85%	-3.09%	27.06%	37.32%
Free Cash Flow Per Share	0.16	-0.01	0.07	-0.05	0.34	0.38
Cash Interest Paid	0.8	0.8	-	-	0.51	0.56
Cash Income Tax Paid	22.81	13.03	9.2	9.9	12.68	7.28
Levered Free Cash Flow	50.56	-42.72	-38.89	-224.55	222.78	342.36
Unlevered Free Cash Flow	51.3	-42.14	-38.52	-224.31	223.1	342.71
Change in Working Capital	-118.11	-118.11	-146.42	-276.63	119.55	264.36

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