SHE:002194 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-3.56	53.25	84.15	276.17	227.72	192.04
Depreciation & Amortization	92.13	92.13	86.48	69.77	61.04	65.97
Other Amortization	15.56	15.56	13.73	12.13	12.11	11.28
Loss (Gain) From Sale of Assets	-1.34	-1.34	-2.61	-3.16	-	-0.22
Asset Writedown & Restructuring Costs	10.97	10.97	0.17	16.81	32.76	46.48
Loss (Gain) From Sale of Investments	0.4	0.4	2.43	2.12	3.43	-2.12
Provision & Write-off of Bad Debts	5.01	5.01	-9.67	1.08	-	-
Other Operating Activities	277.4	108.67	82.23	45.82	2.41	12.01
Change in Accounts Receivable	-140.47	-140.47	217.71	36.68	80.94	-151.17
Change in Inventory	-85.46	-85.46	115.25	-49.23	-41.46	-0.31
Change in Accounts Payable	-34.24	-34.24	-277.88	-104.55	38.21	48.36
Operating Cash Flow	120.24	8.31	311.4	284.89	426.25	223.78
Operating Cash Flow Growth	77.03%	-97.33%	9.30%	-33.16%	90.48%	-52.83%
Capital Expenditures	-52.55	-92.46	-160.93	-155.74	-63.66	-62.31
Sale of Property, Plant & Equipment	1.33	1.68	2.65	3.63	-	0.35
Investment in Securities	-56.11	37.39	6.77	23.16	43.02	355.48
Other Investing Activities	0.53	-	20.85	4.96	6.03	6.16
Investing Cash Flow	-106.79	-53.39	-130.65	-124	-14.61	299.68
Long-Term Debt Issued	-	-	0.05	50.16	-	-
Total Debt Issued	-	-	0.05	50.16	-	-
Short-Term Debt Repaid	-	-	-	-	-	-51.79
Long-Term Debt Repaid	-	-4.03	-3.3	-52.86	-2.73	-
Total Debt Repaid	-3.98	-4.03	-3.3	-52.86	-2.73	-51.79
Net Debt Issued (Repaid)	-3.98	-4.03	-3.25	-2.7	-2.73	-51.79
Issuance of Common Stock	-	-	-	12.36	43.31	16.59
Repurchase of Common Stock	-	-	-0.95	-0.51	-	-
Common Dividends Paid	-47.83	-81.99	-205.06	-34.33	-99.78	-27.92
Other Financing Activities	0.19	-0.05	-0.12	-0	-0	-0.07
Financing Cash Flow	-51.62	-86.08	-209.39	-25.18	-59.21	-63.18
Foreign Exchange Rate Adjustments	5.28	5.28	2.95	1.29	-2.32	-3.63
Net Cash Flow	-32.89	-125.88	-25.7	137	350.12	456.65
Free Cash Flow	67.69	-84.15	150.47	129.15	362.59	161.47
Free Cash Flow Growth	-	-	16.51%	-64.38%	124.55%	-59.91%
Free Cash Flow Margin	4.67%	-5.68%	9.48%	6.23%	19.73%	10.82%
Free Cash Flow Per Share	0.10	-0.12	0.22	0.19	0.53	0.24
Cash Income Tax Paid	-	22.6	22.32	15.53	23.58	62.3
Levered Free Cash Flow	99.66	-85.16	23.46	12.87	179.38	48.09
Unlevered Free Cash Flow	100.74	-83.15	25.6	14.63	180.16	48.74
Change in Working Capital	-276.34	-276.34	54.49	-135.85	86.78	-101.66

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.