SHE:002211 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	-9.58	-14.78	-39.04	-29.36	39.6	-337.9
Depreciation & Amortization	14.57	14.57	12.43	11.19	16.01	18.12
Other Amortization	0.26	0.26	0.49	0.34	0.12	5.77
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.67	-0.29	0.53	0.66
Asset Writedown & Restructuring Costs	4.04	4.04	1.79	5.12	10.49	98.79
Loss (Gain) From Sale of Investments	-0.06	-0.06	-0.55	0.01	-90	-0.43
Provision & Write-off of Bad Debts	-	-	1.33	0.25	-1.17	1.58
Other Operating Activities	-33.96	1.25	2.9	1.6	1.11	4.41
Change in Accounts Receivable	12.56	12.56	-30.15	0.4	-69.28	-47.92
Change in Inventory	-0.85	-0.85	-27.13	3.94	18.8	-8.82
Change in Accounts Payable	6.54	6.54	58.31	-7.64	141.51	234.91
Operating Cash Flow	-6.48	23.53	-20.3	-13.04	67.74	-29.21
Capital Expenditures	-2.37	-2.15	-1.9	-3.21	-13.57	-2.76
Sale of Property, Plant & Equipment	0.05	0.05	0.55	0.52	1.52	0.67
Investment in Securities	13.43	13.46	-4.95	-7.81	-	-
Other Investing Activities	0.06	0.06	0.16	-	-0.55	0.43
Investing Cash Flow	11.17	11.43	-6.14	-10.51	-12.61	-1.66
Short-Term Debt Issued	-	-	-	-	-	45.78
Total Debt Issued	-	-	-	-	-	45.78
Short-Term Debt Repaid	-	-	-	-	-4	-99
Long-Term Debt Repaid	-	-	-3.16	-1.33	-1.99	-25
Total Debt Repaid	-	-	-3.16	-1.33	-5.99	-124
Net Debt Issued (Repaid)	-	-	-3.16	-1.33	-5.99	-78.22
Common Dividends Paid	-	-	-	-	-0.03	-2.95
Other Financing Activities	-7.06	-6.61	-	-	-	-
Financing Cash Flow	-7.06	-6.61	-3.16	-1.33	-6.02	-81.17
Foreign Exchange Rate Adjustments	0.05	0.05	0.51	0.44	0.83	1.03
Net Cash Flow	-2.31	28.4	-29.08	-24.44	49.94	-111.01
Free Cash Flow	-8.84	21.38	-22.2	-16.25	54.16	-31.97
Free Cash Flow Margin	-1.72%	4.52%	-6.39%	-6.92%	14.85%	-5.77%
Free Cash Flow Per Share	-0.02	0.05	-0.05	-0.04	0.13	-0.07
Cash Income Tax Paid	2.65	2.38	2	2.82	-33.4	14.64
Levered Free Cash Flow	26.27	-13.48	45.55	-9.02	-102.14	734.85
Unlevered Free Cash Flow	26.27	-13.48	45.91	-8.93	-101.98	737.56
Change in Working Capital	18.26	18.26	1.03	-1.9	91.05	179.81

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.