SHE:002374 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	-324.07	-255.39	-256.52	-160.7	-687.12	-662.42
Depreciation & Amortization	52.51	52.51	52.63	50.08	58.39	65.85
Other Amortization	0.93	0.93	2.78	10.39	10.53	13.25
Loss (Gain) From Sale of Assets	0.04	0.04	0.01	-2.51	-3.8	-1.97
Asset Writedown & Restructuring Costs	0.61	0.61	0.67	1.05	0.03	105.93
Loss (Gain) From Sale of Investments	2.29	2.29	0.5	0.68	-6.89	2.48
Provision & Write-off of Bad Debts	134.27	134.27	198.04	119.09	825.64	278.02
Other Operating Activities	152.09	92.14	103.44	120.58	-27.44	124.24
Change in Accounts Receivable	99.2	99.2	-17.43	-91.39	24.88	370.92
Change in Inventory	5.22	5.22	11.7	13.54	-3.97	-22.31
Change in Accounts Payable	-92.51	-92.51	-44.71	-22.32	-191.4	-56.52
Operating Cash Flow	27.43	36.15	48.3	34.34	27.72	253.37
Operating Cash Flow Growth	-37.87%	-25.14%	40.66%	23.88%	-89.06%	646.71%
Capital Expenditures	-28.11	-26.15	-29.31	-26.94	-29.37	-118.92
Sale of Property, Plant & Equipment	60.29	60.29	0.94	6.23	25.78	89.68
Investment in Securities	1.38	1.38	3.21	-1	-	-
Other Investing Activities	-42.9	0.1	0.08	0.08	0.07	0.06
Investing Cash Flow	-9.34	35.62	-25.07	-21.63	-3.52	-29.18
Long-Term Debt Issued	-	569.16	589.73	694.95	1,386	929.26
Long-Term Debt Repaid	-	-642.97	-558.18	-613.93	-1,407	-1,007
Net Debt Issued (Repaid)	-64.24	-73.81	31.55	81.02	-20.54	-78.2
Repurchase of Common Stock	-	-	-	-	-	-6.33
Common Dividends Paid	-53.74	-52.7	-68.94	-75.09	-76.97	-121.34
Other Financing Activities	94.33	29.05	-29.09	-31.82	-3.38	-31.93
Financing Cash Flow	-23.65	-97.47	-66.48	-25.89	-100.9	-237.81
Foreign Exchange Rate Adjustments	-0.72	-0.15	0.78	0.57	0.65	-0.41
Net Cash Flow	-6.29	-25.84	-42.47	-12.62	-76.05	-14.02
Free Cash Flow	-0.68	10.01	18.99	7.4	-1.65	134.45
Free Cash Flow Growth	-	-47.29%	156.59%	-	-	3519.53%
Free Cash Flow Margin	-0.12%	1.80%	2.98%	1.04%	-0.20%	19.70%
Free Cash Flow Per Share	-0.00	0.01	0.02	0.01	-0.00	0.12
Cash Income Tax Paid	23.69	27.23	38.56	46.9	31.83	36.08
Levered Free Cash Flow	64.13	-173.54	-31.88	-147.92	-51.91	-595.64
Unlevered Free Cash Flow	122.59	-115.08	32.39	-78.06	20.18	-522.97
Change in Working Capital	8.75	8.75	-53.25	-104.34	-141.61	328

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