SHE:002384 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	Dec '21 Dec 31, 2021
Net Income	1,086	1,965	2,368	1,862
Depreciation & Amortization	2,244	1,989	1,856	1,716
Other Amortization	316.1	254.14	157.2	147.37
Loss (Gain) From Sale of Assets	234.75	18.24	5.51	14.06
Asset Writedown & Restructuring Costs	492.37	40.27	35.36	10.84
Loss (Gain) From Sale of Investments	33.87	5.86	56.6	-50.22
Provision & Write-off of Bad Debts	44.11	39.44	76.23	19.26
Other Operating Activities	605.33	753.75	620.59	516.23
Change in Accounts Receivable	-446	268.25	626	-780.45
Change in Inventory	-463.4	-528.19	-160.9	-739.88
Change in Accounts Payable	657.93	698.3	-1,052	457.37
Change in Other Net Operating Assets	0.48	-126.02	16.73	-
Operating Cash Flow	4,986	5,172	4,630	3,210
Operating Cash Flow Growth	-3.60%	11.72%	44.25%	9.46%
Capital Expenditures	-3,792	-3,467	-3,375	-3,049
Sale of Property, Plant & Equipment	173.3	37.56	8.92	579.16
Cash Acquisitions	-109.16	-863.78	-	-
Divestitures	39.16	-	-	-0
Investment in Securities	-401.23	-450.51	-410.85	421.95
Other Investing Activities	-3.61	-95.31	17.97	21.03
Investing Cash Flow	-4,094	-4,839	-3,759	-2,027
Short-Term Debt Issued	836.3	729.49	-	-
Long-Term Debt Issued	9,292	13,365	10,829	9,629
Total Debt Issued	10,129	14,095	10,829	9,629
Short-Term Debt Repaid	-729.49	-1,297	-1,338	-3,582
Long-Term Debt Repaid	-9,950	-12,811	-9,883	-8,631
Total Debt Repaid	-10,680	-14,108	-11,221	-12,213
Net Debt Issued (Repaid)	-551.04	-13.52	-392.45	-2,583
Repurchase of Common Stock	-25	-	-49.99	-100.48
Common Dividends Paid	-789.61	-566.87	-642.1	-456.92
Other Financing Activities	46.29	337.84	1,588	3,047
Financing Cash Flow	-1,319	-242.55	503.62	-93.85
Foreign Exchange Rate Adjustments	126.15	96.49	143.21	-22.47
Net Cash Flow	-300.89	187.46	1,518	1,066
Free Cash Flow	1,194	1,706	1,255	160.34
Free Cash Flow Growth	-30.00%	35.92%	682.64%	-70.39%
Free Cash Flow Margin	3.25%	5.07%	3.97%	0.50%
Free Cash Flow Per Share	0.70	1.00	0.74	0.09
Cash Income Tax Paid	-406.05	-531.75	-910.31	-724.49
Levered Free Cash Flow	932.99	351.49	1,116	-1,200
Unlevered Free Cash Flow	1,207	641.3	1,356	-967.77
Change in Working Capital	-69.97	106.88	-545.61	-1,027

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