SHE:002296 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	185.67	274.54	164.4	104	120.13
Depreciation & Amortization	46.95	46.28	56.47	51.55	25.32
Other Amortization	-	1.81	-	-	7.41
Loss (Gain) From Sale of Assets	2.61	0.01	-55.22	-6.14	-
Asset Writedown & Restructuring Costs	9.54	0	0.01	0.05	19.79
Loss (Gain) From Sale of Investments	-19.8	-19.06	-15.59	-14.7	29.94
Provision & Write-off of Bad Debts	-	79.51	12.67	17.55	10.18
Other Operating Activities	123.45	-7.27	-4.95	-2.29	-2.73
Change in Accounts Receivable	-101.48	-647.54	65.25	-41.9	-29.53
Change in Inventory	121.32	52.39	-92.21	-74.36	-54.98
Change in Accounts Payable	-216.04	318.67	26.1	16.94	116.71
Change in Other Net Operating Assets	3.11	40.18	37.75	63.23	26.01
Operating Cash Flow	168.39	150.39	173.37	117.51	260.56
Operating Cash Flow Growth	11.97%	-13.26%	47.53%	-54.90%	76.58%
Capital Expenditures	-13.65	-5.76	-8.29	-37.35	-67.25
Sale of Property, Plant & Equipment	0.05	0.05	0.14	6.79	-
Investment in Securities	-48.8	-162.8	-165.67	-32.85	-232.37
Other Investing Activities	28.48	8.03	14.27	31.33	3.62
Investing Cash Flow	-33.92	-160.48	-159.55	-32.07	-296
Short-Term Debt Issued	-	-	-	-	3
Total Debt Issued	-	-	-	-	3
Short-Term Debt Repaid	-	-	-	-3	-3
Long-Term Debt Repaid	-	-1.13	-	-	-
Total Debt Repaid	-	-1.13	-	-3	-3
Net Debt Issued (Repaid)	-	-1.13	-	-3	-
Issuance of Common Stock	-	46.39	-	18.19	-
Repurchase of Common Stock	-	-	-0.1	-36.96	-164.9
Common Dividends Paid	-77.92	-38.96	-0.09	-	-0.2
Other Financing Activities	-0.86	-	-	-0.05	-
Financing Cash Flow	-78.77	6.31	-0.19	-21.82	-165.1
Net Cash Flow	55.7	-3.78	13.63	63.63	-200.53
Free Cash Flow	154.74	144.62	165.08	80.17	193.32
Free Cash Flow Growth	7.00%	-12.39%	105.92%	-58.53%	402.44%
Free Cash Flow Margin	17.61%	11.37%	22.30%	12.30%	26.22%
Free Cash Flow Per Share	0.40	0.37	0.44	0.22	0.53
Cash Interest Paid	-	-	-	0.05	-
Cash Income Tax Paid	108.5	73.7	63.2	40.53	56.1
Levered Free Cash Flow	-60.3	39.66	90.42	37.41	118.45
Unlevered Free Cash Flow	-60.3	39.66	90.42	37.44	118.54
Change in Working Capital	-180.05	-225.44	15.59	-32.5	50.53

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