SHE:002101 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	309.77	-	415.19	422.77	465.36	300.05
Depreciation & Amortization	491.82	-	412.97	361.27	323.1	296.5
Other Amortization	431.28	-	368.12	369.61	355.47	231.27
Loss (Gain) From Sale of Assets	-0.26	-	2.48	0.51	0.71	-0.68
Asset Writedown & Restructuring Costs	41.8	-	3.86	2.61	0.73	0.58
Loss (Gain) From Sale of Investments	-1.24	-	-5.62	-6.04	-63.85	-15.85
Provision & Write-off of Bad Debts	-	-	-2.51	0.77	7.47	8.98
Other Operating Activities	504.65	-	62.92	70.34	57.84	77.52
Change in Accounts Receivable	-862.66	-	-706.85	-772.59	-207.95	-57.62
Change in Inventory	-47.94	-	-243.72	27.33	-243.13	-36.35
Change in Accounts Payable	-247.87	-	833.98	718.46	206.84	-100.61
Operating Cash Flow	623.59	-	1,124	1,178	888.93	697.78
Operating Cash Flow Growth	-46.48%	-	-4.53%	32.48%	27.39%	-39.55%
Capital Expenditures	-577.42	-	-903.01	-794.84	-646.45	-482.6
Sale of Property, Plant & Equipment	0.41	-	0.25	0.23	2.4	12.66
Cash Acquisitions	-	-	-	-	-30.88	-
Divestitures	-	-	-	-	162.25	-65.8
Investment in Securities	0.74	-	7.43	-224.96	-285.65	165
Other Investing Activities	3.53	-	4.14	31.03	0.15	3.19
Investing Cash Flow	-572.75	-	-891.2	-988.53	-798.17	-367.56
Long-Term Debt Issued	-	-	459.98	984.07	1,051	888.84
Long-Term Debt Repaid	-	-	-553.78	-970.46	-904.5	-1,107
Net Debt Issued (Repaid)	187.96	-	-93.8	13.6	146.81	-217.89
Issuance of Common Stock	-	-	-	2,216	-	-
Repurchase of Common Stock	-	-	-	-	-	-8.48
Common Dividends Paid	-202.76	-	-240.13	-33.41	-182.42	-106.7
Other Financing Activities	-158.91	-	-83.73	-8.73	4.66	-51.58
Financing Cash Flow	-173.71	-	-417.66	2,188	-30.95	-384.63
Foreign Exchange Rate Adjustments	-1.9	-	11.67	-8.35	-14.52	-1.64
Net Cash Flow	-124.77	-	-172.92	2,369	45.29	-56.05
Free Cash Flow	46.17	-	221.26	382.83	242.48	215.18
Free Cash Flow Growth	-74.59%	-	-42.20%	57.88%	12.69%	-70.08%
Free Cash Flow Margin	0.51%	-	2.75%	5.03%	3.63%	3.58%
Free Cash Flow Per Share	0.07	-	0.34	0.67	0.46	0.41
Cash Income Tax Paid	304.85	-	185.91	248.08	165.47	226.72
Levered Free Cash Flow	490.38	-	614.3	473.52	382.84	-64.11
Unlevered Free Cash Flow	490.38	-	643.3	501.81	403.31	-45.51
Change in Working Capital	-1,154	-	-133.14	-44.15	-257.9	-200.58

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