SHE:002378 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	172.03	143.96	203.35	165
Depreciation & Amortization	208.87	216.73	230.26	225.54
Other Amortization	18.84	18.28	18.29	17.92
Loss (Gain) From Sale of Assets	0.02	-0.09	-0.52	0.28
Asset Writedown & Restructuring Costs	18.29	4.43	5.99	6.88
Loss (Gain) From Sale of Investments	-16.66	-11.19	-19.86	-17.16
Provision & Write-off of Bad Debts	13.31	3.74	13.25	2.91
Other Operating Activities	99.67	100.75	75.27	54.08
Change in Accounts Receivable	-234.33	-27.2	-49.07	-344.28
Change in Inventory	18.85	-112.73	-278.64	-301.74
Change in Accounts Payable	200.85	-150.22	-5.96	353.38
Change in Other Net Operating Assets	1.26	0.5	5.86	14.15
Operating Cash Flow	505.14	187.21	209.72	178.38
Operating Cash Flow Growth	169.82%	-10.73%	17.57%	-74.26%
Capital Expenditures	-375.92	-99.52	-218.76	-241.25
Sale of Property, Plant & Equipment	14.7	5.54	4.35	4.02
Investment in Securities	-1.4	-	-1.7	0.02
Other Investing Activities	13.15	15.86	14.3	14.28
Investing Cash Flow	-349.47	-78.11	-201.82	-222.92
Long-Term Debt Issued	1,390	1,127	1,794	1,257
Long-Term Debt Repaid	-1,561	-848.28	-1,749	-1,075
Net Debt Issued (Repaid)	-171.01	278.57	44.75	182.08
Issuance of Common Stock	-	-	-	0.84
Common Dividends Paid	-150.79	-184.12	-165.46	-74.59
Other Financing Activities	18.16	-4.55	-0.34	-22.75
Financing Cash Flow	-303.64	89.89	-121.05	85.58
Foreign Exchange Rate Adjustments	4.31	-0.95	0.77	-0.09
Net Cash Flow	-143.67	198.05	-112.37	40.94
Free Cash Flow	129.22	87.7	-9.04	-62.87
Free Cash Flow Growth	47.35%	-	-	-
Free Cash Flow Margin	3.52%	2.58%	-0.28%	-2.36%
Free Cash Flow Per Share	0.10	0.07	-0.01	-0.05
Cash Income Tax Paid	155.03	99.49	114.18	63.93
Levered Free Cash Flow	41.01	-222.77	-193.76	4.72
Unlevered Free Cash Flow	89.87	-178.62	-148.84	51.86
Change in Working Capital	-9.23	-289.41	-316.31	-277.06

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.