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 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	18.12	18.46	18.32	20.68	67.72	243.26
Depreciation & Amortization	115.59	115.59	114.67	107.98	114.34	135.8
Other Amortization	0.57	0.57	0.34	0.23	0.19	0.16
Loss (Gain) From Sale of Assets	-	-	0.27	1.34	-	-0.03
Provision & Write-off of Bad Debts	0.13	0.13	1.36	0.32	0.01	0.78
Other Operating Activities	65.61	3.15	8.11	25.4	17.81	2.5
Change in Accounts Receivable	-114.41	-114.41	19.79	-19.82	51.07	-124.07
Change in Inventory	-32.24	-32.24	12.93	-40.17	-75.65	-61.41
Change in Accounts Payable	38.66	38.66	-23.19	-12.14	-43.41	-3.59
Change in Other Net Operating Assets	11.6	11.6	-5.46	-6.93	-3.79	-5.39
Operating Cash Flow	96.79	34.67	136.77	58.69	121.58	179.58
Operating Cash Flow Growth	75.21%	-74.65%	133.03%	-51.73%	-32.30%	-45.50%
Capital Expenditures	-43.62	-42.31	-45.47	-77.6	-13.06	-11.13
Sale of Property, Plant & Equipment	1.27	1.27	0	1.69	-	0.09
Investment in Securities	-90	-170	-380	-400	-	-
Other Investing Activities	-	-	10.56	-	-	-
Investing Cash Flow	-132.35	-211.04	-414.91	-475.91	-13.06	-11.04
Short-Term Debt Issued	-	-	141.13	348.2	-	236.65
Long-Term Debt Issued	-	-	-	-	176.35	-
Total Debt Issued	-5.41	-	141.13	348.2	176.35	236.65
Short-Term Debt Repaid	-	-	-286.17	-220.93	-	-184.42
Long-Term Debt Repaid	-	-	-	-	-200.06	-
Total Debt Repaid	-	-	-286.17	-220.93	-200.06	-184.42
Net Debt Issued (Repaid)	-5.41	-	-145.04	127.27	-23.72	52.23
Common Dividends Paid	-	-	-4.6	-4.82	-0.65	-0.2
Other Financing Activities	81.31	-	-	0.58	-1.59	0.03
Financing Cash Flow	75.9	-	-149.64	123.04	-25.96	52.06
Foreign Exchange Rate Adjustments	0.26	-	-	-	-	-
Net Cash Flow	40.59	-176.36	-427.78	-294.18	82.56	220.61
Free Cash Flow	53.17	-7.63	91.3	-18.91	108.52	168.46
Free Cash Flow Growth	-	-	-	-	-35.58%	-45.57%
Free Cash Flow Margin	4.34%	-0.62%	6.89%	-1.42%	6.85%	10.06%
Free Cash Flow Per Share	0.03	-0.00	0.05	-0.01	0.06	0.09
Cash Income Tax Paid	28.3	30.14	31.28	32.15	51.68	78.5
Levered Free Cash Flow	143.08	20.61	97.05	-24.36	76.71	118.47
Unlevered Free Cash Flow	143.25	20.78	99.42	-20.31	77.89	118.75
Change in Working Capital	-103.24	-103.24	-6.31	-97.27	-78.48	-202.9

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