SHE:002091 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	Jan '22 Jan 1, 2022
Net Income	1,106	1,604	1,724	1,236
Depreciation & Amortization	492.54	440.94	337.05	314.26
Other Amortization	61.77	52.93	33.35	43.7
Loss (Gain) From Sale of Assets	-24.15	-5.6	-2.55	2.87
Asset Writedown & Restructuring Costs	4.35	2.69	101.19	6.29
Loss (Gain) From Sale of Investments	-76.13	-201.76	-135.38	-152.56
Provision & Write-off of Bad Debts	77.31	-4.68	-50.19	161.03
Other Operating Activities	948.18	1,217	872.36	825.38
Change in Accounts Receivable	-1,597	-1,518	2,179	-3,795
Change in Inventory	-546.23	493.36	-53.93	-2,350
Change in Accounts Payable	1,307	563.13	-1,358	3,314
Change in Other Net Operating Assets	1.67	61.65	41.91	-29.09
Operating Cash Flow	1,687	2,682	3,657	-446.73
Operating Cash Flow Growth	-37.09%	-26.66%	-	-
Capital Expenditures	-1,424	-1,433	-1,123	-691.49
Sale of Property, Plant & Equipment	106.34	86.17	27.22	15.24
Cash Acquisitions	-14.43	-	-82.52	-
Divestitures	-3.2	-	-1.55	15.37
Investment in Securities	-3,414	638.02	-2,386	-597.79
Other Investing Activities	207.42	149.5	159.31	194.06
Investing Cash Flow	-4,541	-559.54	-3,407	-1,065
Long-Term Debt Issued	4,288	4,304	5,456	3,204
Short-Term Debt Repaid	-	-	-117.76	-108.69
Long-Term Debt Repaid	-4,168	-2,459	-5,282	-3,476
Total Debt Repaid	-4,168	-2,459	-5,399	-3,585
Net Debt Issued (Repaid)	120.13	1,845	56.67	-381.3
Issuance of Common Stock	-	-	-	4,542
Common Dividends Paid	-820.36	-569.95	-497.56	-484.32
Other Financing Activities	-556.18	-590.64	3,323	-174.21
Financing Cash Flow	-1,256	684.17	2,882	3,502
Foreign Exchange Rate Adjustments	163.43	138.29	466.76	-138.03
Net Cash Flow	-3,947	2,945	3,599	1,853
Free Cash Flow	263.44	1,249	2,533	-1,138
Free Cash Flow Growth	-78.90%	-50.71%	-	-
Free Cash Flow Margin	0.68%	3.36%	5.92%	-2.89%
Free Cash Flow Per Share	0.14	0.65	1.43	-0.64
Cash Interest Paid	0.4	0.17	0.1	0.13
Cash Income Tax Paid	-1,079	-969.3	-1,455	-1,876
Levered Free Cash Flow	-8.5	1,615	1,830	-1,658
Unlevered Free Cash Flow	170.02	1,789	1,981	-1,553
Change in Working Capital	-902.36	-423.6	777.29	-2,884

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.