SHE:002175 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	-15.97	16.61	43.94	107.41	409.39	-1,075
Depreciation & Amortization	30.57	30.57	24.84	18.8	19.03	19.25
Other Amortization	8.12	8.12	1.73	1.19	0.18	-
Loss (Gain) From Sale of Assets	-0.06	-0.06	-4.11	0.08	-3.53	-0.26
Asset Writedown & Restructuring Costs	-	-	-	-	-	1.01
Loss (Gain) From Sale of Investments	0.31	0.31	-36.53	-2.39	-535.33	-0.15
Provision & Write-off of Bad Debts	1.12	1.12	-0.06	1.34	-6.82	13.09
Other Operating Activities	25.03	4.95	2.97	-73.58	134.13	1,067
Change in Accounts Receivable	-17.72	-17.72	5.76	-7.29	20.78	-2.98
Change in Inventory	-0.42	-0.42	9.95	-6	-27.62	33.34
Change in Accounts Payable	12.27	12.27	-23.1	2.79	-22.47	-13.87
Operating Cash Flow	43.34	55.84	25.95	45.55	-10.93	39.2
Operating Cash Flow Growth	-23.83%	115.22%	-43.03%	-	-	1262.02%
Capital Expenditures	-38.84	-30.63	-40.39	-11.75	-12.7	-4.52
Sale of Property, Plant & Equipment	0.06	0.3	4.94	0.2	0.03	10.98
Cash Acquisitions	-	-	-0.94	-	-	-
Divestitures	-	-	-	0.14	-	-
Investment in Securities	-0.57	-1.6	-1.05	0.59	10.06	-
Other Investing Activities	-	-	-	-	-	-0
Investing Cash Flow	-39.34	-31.93	-37.45	-10.82	-2.62	6.46
Long-Term Debt Issued	-	69	8.5	-	-	-
Short-Term Debt Repaid	-	-	-	-45.23	-47.46	-0.5
Long-Term Debt Repaid	-	-52.97	-6.84	-	-	-
Total Debt Repaid	-91.87	-52.97	-6.84	-45.23	-47.46	-0.5
Net Debt Issued (Repaid)	-18.87	16.03	1.66	-45.23	-47.46	-0.5
Issuance of Common Stock	-	-	-	54.01	147.13	-
Common Dividends Paid	-1.89	-2.26	-0.5	-1.6	-13.9	-8.55
Other Financing Activities	195.93	-	-	3.24	-65.89	20.28
Financing Cash Flow	175.18	13.78	1.16	10.42	19.88	11.23
Foreign Exchange Rate Adjustments	0.02	0.23	-0.16	1.92	-0.74	-1.21
Net Cash Flow	179.19	37.91	-10.5	47.06	5.59	55.67
Free Cash Flow	4.5	25.21	-14.45	33.79	-23.63	34.68
Free Cash Flow Margin	1.48%	7.74%	-5.26%	12.35%	-10.11%	16.39%
Free Cash Flow Per Share	0.00	0.02	-0.01	0.03	-0.02	0.03
Cash Income Tax Paid	23.06	22.67	29.68	13.7	24.5	25.11
Levered Free Cash Flow	-28.03	13.7	-4.55	20.8	-843.47	897.24
Unlevered Free Cash Flow	-26.03	15.98	-2.99	21.2	-823.25	915.77
Change in Working Capital	-5.78	-5.78	-6.83	-7.29	-27.98	14.44

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