SHE:002238 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	-58.71	-2.81	125.07	110.16	142.03	182.13
Depreciation & Amortization	242.23	242.23	238.16	227.18	225.02	189.45
Other Amortization	91.21	91.21	74.51	71.58	83.42	86.68
Loss (Gain) From Sale of Assets	-3.92	-3.92	0.78	-0.05	-0.12	-0.15
Asset Writedown & Restructuring Costs	0.49	0.49	1.47	0.06	0.51	-0.02
Loss (Gain) From Sale of Investments	10.84	10.84	4.06	-6.63	7.01	-14.02
Provision & Write-off of Bad Debts	7.29	7.29	15.4	1.4	7.15	7.32
Other Operating Activities	-304.22	-12.44	5.53	0.43	7.68	3.26
Change in Accounts Receivable	149.46	149.46	-61.3	-49.89	-227.04	-153.77
Change in Inventory	-13.79	-13.79	-1.94	12.98	21.02	-32.91
Change in Accounts Payable	-33.55	-33.55	106.55	-40.46	163.45	222.24
Change in Other Net Operating Assets	-	-	-	3.12	5.83	9.35
Operating Cash Flow	97.51	445.19	496.64	329.46	435.56	499.57
Operating Cash Flow Growth	-82.41%	-10.36%	50.74%	-24.36%	-12.81%	10.37%
Capital Expenditures	-132.75	-141.64	-614.7	-312.67	-269.8	-243.77
Sale of Property, Plant & Equipment	12.59	11.9	0.98	0.1	0.25	0.23
Cash Acquisitions	-	-	-	-1.63	-	-
Investment in Securities	-325.17	-705.19	-56.17	186.94	-27.97	208.51
Other Investing Activities	7.29	5.96	-	-	-	0.65
Investing Cash Flow	-438.04	-828.97	-669.89	-127.26	-297.52	-34.38
Short-Term Debt Issued	-	-	-	-	-	300
Long-Term Debt Issued	-	403.88	342.2	205	-	-
Total Debt Issued	444.69	403.88	342.2	205	-	300
Long-Term Debt Repaid	-	-583.72	-299.31	-35.51	-332.6	-
Net Debt Issued (Repaid)	-49.51	-179.83	42.89	169.49	-332.6	300
Common Dividends Paid	-47.66	-90.73	-89.62	-82.09	-85.88	-622.1
Other Financing Activities	38.7	111.9	128.79	-4.38	-0.2	-3.92
Financing Cash Flow	-58.47	-158.67	82.06	83.01	-418.69	-326.02
Foreign Exchange Rate Adjustments	0.01	0.01	0.01	0.06	-0.02	-0.06
Net Cash Flow	-398.99	-542.44	-91.19	285.27	-280.66	139.11
Free Cash Flow	-35.24	303.55	-118.06	16.79	165.76	255.8
Free Cash Flow Growth	-	-	-	-89.87%	-35.20%	20.49%
Free Cash Flow Margin	-2.81%	23.30%	-7.99%	1.12%	9.31%	14.67%
Free Cash Flow Per Share	-0.04	0.38	-0.15	0.02	0.21	0.32
Cash Income Tax Paid	31.14	27.89	16.57	32.96	28.39	13.97
Levered Free Cash Flow	-27.3	196.82	-299.79	90.39	47.73	168.13
Unlevered Free Cash Flow	-20.92	204.47	-292.82	92.54	53.25	171.32
Change in Working Capital	112.3	112.3	31.66	-74.66	-37.15	44.92

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