SHE:002158 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	862.59	865.03	644.38	487.17
Depreciation & Amortization	127.08	116.11	109.09	110.37
Other Amortization	7.39	5.68	3.44	1.77
Loss (Gain) From Sale of Assets	-0.14	1.64	0.32	3.76
Asset Writedown & Restructuring Costs	1.28	12.55	4.11	1.03
Loss (Gain) From Sale of Investments	-49.16	-47.84	-34.34	-35.58
Provision & Write-off of Bad Debts	10.53	3.35	13.35	1.23
Other Operating Activities	-1.95	60.57	-18.21	52.02
Change in Accounts Receivable	841.4	310.28	-232.09	299.56
Change in Inventory	358.85	-312.37	-176.54	-189.41
Change in Accounts Payable	-1,442	-222.7	182.83	-91.34
Change in Other Net Operating Assets	-624.23	-	-	-
Operating Cash Flow	111.97	772.46	498.7	634.77
Operating Cash Flow Growth	-85.50%	54.90%	-21.44%	75.56%
Capital Expenditures	-114.72	-174.85	-184.66	-204.32
Sale of Property, Plant & Equipment	0.1	1.7	0.95	2.75
Cash Acquisitions	0.96	-	-	-
Investment in Securities	-84.93	-338.1	141.27	-366.34
Other Investing Activities	37.98	28.15	33.59	27.05
Investing Cash Flow	-160.61	-483.09	-8.85	-540.86
Long-Term Debt Issued	1,355	1,823	1,624	1,348
Long-Term Debt Repaid	-1,717	-1,855	-1,576	-1,173
Net Debt Issued (Repaid)	-361.38	-32.2	47.87	175.28
Repurchase of Common Stock	-	-	-	-0.61
Common Dividends Paid	-329.26	-258.67	-212.56	-195.36
Other Financing Activities	-0.15	-	0.15	0.45
Financing Cash Flow	-690.78	-290.87	-164.55	-20.24
Foreign Exchange Rate Adjustments	8.02	20.31	43.02	-9.43
Net Cash Flow	-731.4	18.8	368.33	64.24
Free Cash Flow	-2.75	597.61	314.04	430.45
Free Cash Flow Growth	-	90.30%	-27.04%	33.32%
Free Cash Flow Margin	-0.07%	15.51%	9.62%	14.44%
Free Cash Flow Per Share	-0.01	1.12	0.59	0.80
Cash Income Tax Paid	318.33	256.47	117.56	75.94
Levered Free Cash Flow	430.28	299.9	106.36	353.11
Unlevered Free Cash Flow	444.25	319.22	122.83	367.55
Change in Working Capital	-845.66	-244.63	-223.44	13.01

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