SHE:002321 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	-32.67	32.36	-31.84	-596.94	-2,538	-1,144
Depreciation & Amortization	151.66	151.66	154.91	121.59	193.13	202.77
Other Amortization	0.66	0.66	0.18	0.06	0.26	0.66
Loss (Gain) From Sale of Assets	-2.06	-2.06	1.12	0.13	-44.35	39.98
Asset Writedown & Restructuring Costs	4.29	4.29	2.39	26.42	1,929	-
Loss (Gain) From Sale of Investments	-16.5	-16.5	5.12	428.83	-1,589	4.62
Provision & Write-off of Bad Debts	15.17	15.17	-2.11	22.42	38.96	-3.26
Other Operating Activities	312.67	144.63	182.15	127.84	1,551	190.77
Change in Accounts Receivable	120.72	120.72	-234.52	-132.59	299.09	30.9
Change in Inventory	-241.89	-241.89	-135.65	-192.26	15.33	587.99
Change in Accounts Payable	-11.51	-11.51	-76.03	-505.63	-134.74	-187.08
Operating Cash Flow	302.92	199.92	-132.98	-698.82	-284.35	-278.24
Operating Cash Flow Growth	36.15%	-	-	-	-	-
Capital Expenditures	-50.48	-46.82	-119.77	-64.7	-9.5	-77.05
Sale of Property, Plant & Equipment	14.54	12.99	5.77	4.86	2.42	273.01
Divestitures	-	-	-0	271.05	-	0.36
Investment in Securities	0.5	-2.81	28.09	-74.83	1.28	566.28
Other Investing Activities	15.56	9.36	0.91	0.26	-2.54	-
Investing Cash Flow	-19.89	-27.29	-85	136.63	-8.34	762.59
Long-Term Debt Issued	-	1,328	965.24	648.46	1,285	2,110
Short-Term Debt Repaid	-	-	-	-	-	-690.4
Long-Term Debt Repaid	-	-1,347	-767.62	-607.2	-803.13	-2,063
Total Debt Repaid	-1,347	-1,347	-767.62	-607.2	-803.13	-2,753
Net Debt Issued (Repaid)	-114.93	-18.82	197.61	41.26	481.95	-643.74
Issuance of Common Stock	-	-	-	665.48	-	-
Repurchase of Common Stock	-51.98	-51	-	-	-	-
Common Dividends Paid	-64.23	-62.78	-61.6	-51.48	-12.46	-143.94
Other Financing Activities	-6.87	7.43	-30.89	-60.21	-95.83	88.18
Financing Cash Flow	-238.01	-125.18	105.13	595.04	373.66	-699.51
Foreign Exchange Rate Adjustments	4.88	4.92	2.64	4.8	-1.65	0.57
Net Cash Flow	49.91	52.37	-110.21	37.65	79.32	-214.59
Free Cash Flow	252.44	153.09	-252.75	-763.52	-293.86	-355.3
Free Cash Flow Growth	68.48%	-	-	-	-	-
Free Cash Flow Margin	5.30%	3.24%	-6.82%	-26.34%	-9.21%	-11.37%
Free Cash Flow Per Share	0.16	0.10	-0.12	-0.36	-0.53	-0.67
Cash Income Tax Paid	-	22.36	7.07	1.29	19.89	-0.92
Levered Free Cash Flow	14.59	5.15	-155.78	-588.92	-910.04	394.83
Unlevered Free Cash Flow	63.4	57.94	-105.36	-537.71	-687.38	641.22
Change in Working Capital	-130.3	-130.3	-444.91	-829.17	174.77	430.08

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