SHE:002458 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	161.78	503.82	540.79	-367.05	29.41
Depreciation & Amortization	368.3	341.33	307.82	283.77	224.55
Other Amortization	0.86	2.66	0.56	0.22	0.87
Loss (Gain) From Sale of Assets	0.31	-0.22	-1.68	-0.25	-5.54
Asset Writedown & Restructuring Costs	32.53	38.05	51.25	18.56	1.81
Loss (Gain) From Sale of Investments	24	29	45.9	30.88	17.9
Other Operating Activities	40.31	37.8	78.16	59.53	46.23
Change in Accounts Receivable	-9.32	26.76	3.63	-7.41	-26.64
Change in Inventory	-31.72	-85.82	-68.61	-20.78	-213.85
Change in Accounts Payable	-23.72	-138.34	50.65	94.65	19.46
Operating Cash Flow	561.93	753.36	1,004	90.43	101.21
Operating Cash Flow Growth	-25.41%	-24.95%	1010.00%	-10.65%	74.01%
Capital Expenditures	-312.71	-593.7	-566.74	-302.11	-796.06
Sale of Property, Plant & Equipment	1.71	2.24	9.21	4.14	17.26
Cash Acquisitions	-	-	-	-	-8.5
Divestitures	-	-	-	-	0
Investment in Securities	-	-	-	-	-0.02
Other Investing Activities	-	-	0.11	-	-
Investing Cash Flow	-311.01	-591.46	-557.42	-297.97	-787.31
Short-Term Debt Issued	-	60	70	204	100
Long-Term Debt Issued	3,268	2,099	928.33	1,609	1,486
Total Debt Issued	3,268	2,159	998.33	1,813	1,586
Short-Term Debt Repaid	-	-60	-110	-249	-42
Long-Term Debt Repaid	-2,866	-1,119	-1,916	-1,341	-796.58
Total Debt Repaid	-2,866	-1,179	-2,026	-1,590	-838.58
Net Debt Issued (Repaid)	401.93	980.49	-1,027	222.71	747.59
Issuance of Common Stock	-	-	1,142	-	8.67
Repurchase of Common Stock	-	-118.54	-	-	-
Common Dividends Paid	-424.83	-249.28	-46.74	-62.62	-57.82
Other Financing Activities	-606.67	-404.08	22.73	18.9	-2.42
Financing Cash Flow	-629.57	208.6	90.19	178.99	696.02
Foreign Exchange Rate Adjustments	-	0	0	0	0.02
Net Cash Flow	-378.65	370.5	536.6	-28.54	9.94
Free Cash Flow	249.22	159.67	437.08	-211.67	-694.84
Free Cash Flow Growth	56.09%	-63.47%	-	-	-
Free Cash Flow Margin	8.44%	5.09%	13.55%	-10.02%	-33.12%
Free Cash Flow Per Share	0.23	0.15	0.44	-0.21	-0.71
Cash Income Tax Paid	11.64	16.77	12.84	3.95	15.61
Levered Free Cash Flow	61.81	22.45	-50.91	50.74	-474.81
Unlevered Free Cash Flow	61.81	47.25	-6.49	100.53	-436.59
Change in Working Capital	-66.15	-199.07	-18.99	64.77	-214.01

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