SHE:002263 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	50.83	18.32	20.68	67.72	243.26	176.94
Depreciation & Amortization	114.66	114.66	107.98	114.34	135.8	143.51
Other Amortization	0.36	0.36	0.23	0.19	0.16	0.15
Loss (Gain) From Sale of Assets	0.27	0.27	1.34	-	-0.03	0.27
Asset Writedown & Restructuring Costs	-	-	-	-	-	23.66
Provision & Write-off of Bad Debts	1.36	1.36	0.32	0.01	0.78	3.91
Other Operating Activities	-77.32	8.11	25.4	17.81	2.5	1.85
Change in Accounts Receivable	19.79	19.79	-19.82	51.07	-124.07	55.97
Change in Inventory	12.93	12.93	-40.17	-75.65	-61.41	-15.48
Change in Accounts Payable	-23.19	-23.19	-12.14	-43.41	-3.59	-55.85
Change in Other Net Operating Assets	-5.46	-5.46	-6.93	-3.79	-5.39	-5.39
Operating Cash Flow	83.84	136.77	58.69	121.58	179.58	329.52
Operating Cash Flow Growth	-76.05%	133.03%	-51.73%	-32.30%	-45.50%	60.18%
Capital Expenditures	-48.91	-45.47	-77.6	-13.06	-11.13	-20.04
Sale of Property, Plant & Equipment	0	0	1.69	-	0.09	0.38
Investment in Securities	-850	-380	-400	-	-	87
Other Investing Activities	10.56	10.56	-	-	-	-
Investing Cash Flow	-888.34	-414.91	-475.91	-13.06	-11.04	67.34
Short-Term Debt Issued	-	141.13	348.2	-	236.65	203.04
Long-Term Debt Issued	-	-	-	176.35	-	-
Total Debt Issued	-13.45	141.13	348.2	176.35	236.65	203.04
Short-Term Debt Repaid	-	-286.17	-220.93	-	-184.42	-175.48
Long-Term Debt Repaid	-	-	-	-200.06	-	-
Total Debt Repaid	-11.59	-286.17	-220.93	-200.06	-184.42	-175.48
Net Debt Issued (Repaid)	-25.04	-145.04	127.27	-23.72	52.23	27.56
Common Dividends Paid	-0.78	-4.6	-4.82	-0.65	-0.2	-0.28
Other Financing Activities	76.88	-	0.58	-1.59	0.03	0.9
Financing Cash Flow	51.06	-149.64	123.04	-25.96	52.06	28.18
Foreign Exchange Rate Adjustments	0.85	-	-	-	-	-
Net Cash Flow	-752.59	-427.78	-294.18	82.56	220.61	425.05
Free Cash Flow	34.94	91.3	-18.91	108.52	168.46	309.48
Free Cash Flow Growth	-86.90%	-	-	-35.58%	-45.57%	85.20%
Free Cash Flow Margin	2.71%	6.89%	-1.42%	6.85%	10.06%	20.51%
Free Cash Flow Per Share	0.02	0.05	-0.01	0.06	0.09	0.16
Cash Income Tax Paid	26.57	31.28	32.15	51.68	78.5	39.13
Levered Free Cash Flow	61.49	97.05	-24.36	76.71	118.47	263.96
Unlevered Free Cash Flow	61.71	99.42	-20.31	77.89	118.75	264.34
Change in Working Capital	-6.31	-6.31	-97.27	-78.48	-202.9	-20.75

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