SHE:002210 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	9.27	28.5	16.39	88.35	4.92	8,281
Depreciation & Amortization	35.85	35.85	30.34	21.03	21.16	15.8
Other Amortization	13.24	13.24	8.42	7.19	8.38	443.07
Loss (Gain) on Sale of Assets	-0.04	-0.04	-0.23	-0.51	0.05	-0.21
Loss (Gain) on Sale of Investments	-0	-0	-0.11	-38.19	-2.22	-10,880
Asset Writedown	0.01	0.01	0	0.08	0	37.45
Change in Accounts Receivable	4.29	4.29	-91.3	-72.62	-63.31	168.49
Change in Inventory	9.72	9.72	5.34	7.01	-7.19	8.42
Change in Accounts Payable	-54.37	-54.37	26.65	-28.15	-55.1	136.18
Change in Other Net Operating Assets	-0.61	-0.61	-3.58	-4.48	-	-
Other Operating Activities	61.51	33.88	29.01	27.69	23.95	1,189
Operating Cash Flow	97.76	89.36	30	-41.22	-63.72	20.42
Operating Cash Flow Growth	23.32%	197.89%	-	-	-	41.88%
Capital Expenditures	-83.29	-90.99	-56.3	-76.87	-43.36	-20.33
Sale of Property, Plant & Equipment	0.4	0.07	0.31	0.17	0.12	0.06
Divestitures	-	-	-	-	4.03	4.8
Investment in Securities	0.4	-	-	1.7	12.77	31.4
Other Investing Activities	12.73	12.73	-	0.13	0.23	-2.13
Investing Cash Flow	-69.76	-78.19	-55.98	-74.87	-26.22	13.79
Short-Term Debt Issued	-	-	-	-	50	150
Long-Term Debt Issued	-	460.38	142.5	60	-	-
Total Debt Issued	530.29	460.38	142.5	60	50	150
Long-Term Debt Repaid	-	-47.22	-137.57	-12.89	-5.91	-40.98
Net Debt Issued (Repaid)	163.68	413.16	4.93	47.11	44.09	109.02
Issuance of Common Stock	-	-	-	-	-	50
Common Dividends Paid	-28.08	-13.97	-22.48	-21.32	-21.89	-0.89
Other Financing Activities	-23.53	-381.63	-6.15	6.17	19.72	1.72
Financing Cash Flow	112.07	17.55	-23.69	31.96	41.91	159.85
Foreign Exchange Rate Adjustments	-0.31	0.03	0.05	0.25	-0.08	-0.07
Net Cash Flow	139.75	28.75	-49.63	-83.87	-48.12	193.99
Free Cash Flow	14.48	-1.64	-26.3	-118.09	-107.09	0.08
Free Cash Flow Margin	7.81%	-0.68%	-7.40%	-33.36%	-40.30%	0.03%
Free Cash Flow Per Share	0.01	-0.00	-0.01	-0.04	-0.04	-
Cash Income Tax Paid	4.53	4.26	2.37	6.75	-4.08	11.74
Levered Free Cash Flow	-19.07	-61.34	2.38	-84.19	-248.73	-3,865
Unlevered Free Cash Flow	-4.16	-41.28	20.52	-66.98	-233.35	-3,394
Change in Working Capital	-23.55	-23.55	-57.87	-151.37	-122.9	303.89

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