SHE:002379 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	17,864	17,228	-145.22	22.84	-77.52
Depreciation & Amortization	4,276	4,062	108.15	113.08	110.86
Other Amortization	7.68	3.61	-	-	-
Loss (Gain) From Sale of Assets	-49.23	-109.13	-0.04	-0	-
Asset Writedown & Restructuring Costs	360.89	1,735	0.01	27.31	-
Loss (Gain) From Sale of Investments	42.98	-23.81	-	-	-
Provision & Write-off of Bad Debts	22.53	-10.95	-2.79	2.46	-2.61
Other Operating Activities	3,374	3,008	63.74	62.85	66.19
Change in Accounts Receivable	668.37	-113.51	-25.25	470.27	-377.95
Change in Inventory	-714.07	339.31	-243.22	101.95	-180.31
Change in Accounts Payable	-1,457	-627.9	24.44	-464.27	408.22
Change in Other Net Operating Assets	-48.26	34.33	-	-	-
Operating Cash Flow	23,995	25,282	-216.12	328.11	-52.19
Operating Cash Flow Growth	-5.09%	-	-	-	-
Capital Expenditures	-5,345	-9,091	-58.57	-96.46	-1.77
Sale of Property, Plant & Equipment	104.52	349.11	0.05	4.61	-
Cash Acquisitions	-	-2.49	-	-	-
Investment in Securities	-1,009	40.65	-399.98	-	-
Other Investing Activities	-27.07	61.2	2.73	-	-
Investing Cash Flow	-6,277	-8,642	-455.77	-91.86	-1.77
Short-Term Debt Issued	-	-	-	-	295.59
Long-Term Debt Issued	28,411	36,647	319.29	216.91	-
Total Debt Issued	28,411	36,647	319.29	216.91	295.59
Short-Term Debt Repaid	-	-	-	-	-100
Long-Term Debt Repaid	-38,489	-31,033	-305.37	-162.84	-5.99
Total Debt Repaid	-38,489	-31,033	-305.37	-162.84	-105.99
Net Debt Issued (Repaid)	-10,078	5,615	13.92	54.07	189.6
Issuance of Common Stock	-	71.19	789.59	-	-
Repurchase of Common Stock	-3,000	-	-	-	-
Common Dividends Paid	-1,627	-16,713	-7.28	-8.47	-8.18
Other Financing Activities	-377.51	-0.2	-214.37	-150.82	-
Financing Cash Flow	-15,083	-11,027	581.87	-105.22	181.42
Foreign Exchange Rate Adjustments	-167.81	-286.06	3.51	8.77	-26.67
Net Cash Flow	2,468	5,327	-86.51	139.81	100.79
Free Cash Flow	18,650	16,191	-274.69	231.65	-53.96
Free Cash Flow Growth	15.18%	-	-	-	-
Free Cash Flow Margin	11.90%	10.77%	-10.22%	6.56%	-1.69%
Free Cash Flow Per Share	1.43	1.24	-0.27	0.25	-0.06
Cash Income Tax Paid	13,342	10,493	-33.11	-140.25	-46.34
Levered Free Cash Flow	30,972	-7,099	-387.71	288.81	91.31
Unlevered Free Cash Flow	31,949	-6,091	-382.05	297.04	100.83
Change in Working Capital	-1,904	-610.02	-239.96	99.58	-149.11

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