SHE:002444 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	Dec '21 Dec 31, 2021
Net Income	2,567	2,304	1,692	1,420	1,270
Depreciation & Amortization	410.17	372.44	365.92	312.02	273.57
Other Amortization	27.23	51.04	18.67	16.57	28.59
Loss (Gain) From Sale of Assets	0.71	-0.09	-5.81	16.89	3.02
Asset Writedown & Restructuring Costs	147.11	220.06	5.82	25.64	6.11
Loss (Gain) From Sale of Investments	-779.65	-485.6	-291.47	-126.35	-347.67
Provision & Write-off of Bad Debts	-	60.54	11.11	-19.11	30.91
Other Operating Activities	62.03	94.86	-56.41	24.47	162.39
Change in Accounts Receivable	56.46	-836.1	-21.48	313.93	-537.04
Change in Inventory	-280.98	-475.83	219.61	-24	-1,210
Change in Accounts Payable	93.71	495.61	136.55	-272.55	348.49
Operating Cash Flow	2,310	1,740	2,126	1,632	18.63
Operating Cash Flow Growth	32.74%	-18.14%	30.27%	8658.17%	-97.58%
Capital Expenditures	-972.15	-488.53	-437.79	-432.5	-542.48
Sale of Property, Plant & Equipment	30.4	16.12	23.95	40.2	50.83
Cash Acquisitions	-23.89	-237.64	-127.5	-76.72	-923.94
Investment in Securities	-282.63	107.49	-49.71	-53.32	79.88
Other Investing Activities	6.7	24.64	-70.98	7.97	122.65
Investing Cash Flow	-1,242	-577.92	-662.02	-514.37	-1,213
Long-Term Debt Issued	350.94	5,061	2,565	3,603	4,416
Long-Term Debt Repaid	-3,345	-3,937	-3,131	-5,121	-2,620
Net Debt Issued (Repaid)	-2,994	1,125	-566.03	-1,517	1,796
Issuance of Common Stock	-	-	-	1,088	-
Repurchase of Common Stock	-	-	-5.2	-50.18	-186.44
Common Dividends Paid	-324.01	-784.33	-481.68	-71.5	-52.87
Other Financing Activities	733.01	17.67	-178.69	-58.27	-25.62
Financing Cash Flow	-2,585	357.9	-1,232	-609.75	1,531
Foreign Exchange Rate Adjustments	4.93	60.59	-41.68	284.52	-65.41
Net Cash Flow	-1,512	1,581	190.55	792.24	270.92
Free Cash Flow	1,338	1,252	1,688	1,199	-523.85
Free Cash Flow Growth	6.88%	-25.85%	40.75%	-	-
Free Cash Flow Margin	9.12%	8.46%	15.44%	9.51%	-4.80%
Free Cash Flow Per Share	1.12	1.05	1.41	1.05	-0.47
Cash Income Tax Paid	-153.44	-182.62	-130.83	-347.86	-305.2
Levered Free Cash Flow	-	609.56	1,041	645.03	-1,202
Unlevered Free Cash Flow	-	657.71	1,094	708.85	-1,165
Change in Working Capital	-124.43	-865.64	389.53	-38.15	-1,418

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