SHE:002507 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	801.55	799.35	826.58	898.8	741.96	777.11
Depreciation & Amortization	111.89	111.89	115.42	117.37	101.64	83.24
Other Amortization	-	-	-	-	0.01	0
Loss (Gain) From Sale of Assets	-2.45	-2.45	-0.71	-	-0.04	-0.02
Asset Writedown & Restructuring Costs	2.26	2.26	0.55	0.29	2.58	0.45
Loss (Gain) From Sale of Investments	-62.01	-62.01	-77.96	-83.49	-42.92	-11.24
Provision & Write-off of Bad Debts	-0.03	-0.03	-6.46	3.54	-	-
Other Operating Activities	-125.23	-79.23	-79.53	-87.99	-46.49	0.96
Change in Accounts Receivable	-1.25	-1.25	6.18	10.35	14.45	-10.89
Change in Inventory	-66.14	-66.14	-24.93	-69.15	-18.48	30.83
Change in Accounts Payable	110.69	110.69	-319.46	287.07	-18.38	68.5
Operating Cash Flow	773.15	816.94	435.49	1,079	745.48	939.08
Operating Cash Flow Growth	16.00%	87.59%	-59.64%	44.75%	-20.61%	81.81%
Capital Expenditures	-408.61	-261.33	-114.68	-131.42	-140.9	-172.13
Sale of Property, Plant & Equipment	1.64	3.6	2.71	0.11	0.2	0.09
Investment in Securities	-78.92	-940	202.17	-560	-3,283	-1,057
Other Investing Activities	130.01	101.74	180.51	155.38	5.54	11.24
Investing Cash Flow	-355.88	-1,096	270.71	-535.94	-3,418	-1,218
Long-Term Debt Repaid	-	-0.86	-1.54	-1.43	-1.48	-
Net Debt Issued (Repaid)	-0.86	-0.86	-1.54	-1.43	-1.48	-
Issuance of Common Stock	-	-	-	-	3,280	-
Common Dividends Paid	-484.65	-346.18	-337.3	-310.67	-266.29	-236.81
Other Financing Activities	-0.36	-	-	-	-	-
Financing Cash Flow	-485.87	-347.04	-338.84	-312.11	3,012	-236.81
Foreign Exchange Rate Adjustments	0.2	0.36	-0.12	0.54	-0.1	-0.44
Net Cash Flow	-68.41	-625.74	367.23	231.59	339.04	-516.12
Free Cash Flow	364.53	555.61	320.8	947.68	604.58	766.94
Free Cash Flow Growth	-17.98%	73.19%	-66.15%	56.75%	-21.17%	-
Free Cash Flow Margin	15.04%	23.28%	13.10%	37.19%	24.00%	33.75%
Free Cash Flow Per Share	0.31	0.48	0.28	0.82	0.55	0.74
Cash Income Tax Paid	329.72	358.96	399.66	349.4	337.12	319.32
Levered Free Cash Flow	-107.15	414.92	162.08	732.96	424.88	538.55
Unlevered Free Cash Flow	-107.09	414.94	162.11	733.03	424.93	538.55
Change in Working Capital	47.18	47.18	-342.4	230.58	-11.25	88.56

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