SHE:002530 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	45.16	-9.16	-84.25	-340.59	-397.08	-1,244
Depreciation & Amortization	92.42	92.42	92.45	148.71	173.28	142.29
Other Amortization	9.25	9.25	9.58	12.83	14.09	12.92
Loss (Gain) From Sale of Assets	-0.97	-0.97	0.11	-0.25	-0.25	0.15
Asset Writedown & Restructuring Costs	23.87	23.87	53.79	119.88	201.03	979.37
Loss (Gain) From Sale of Investments	-24.99	-24.99	-15.37	18.96	10.34	-18.79
Provision & Write-off of Bad Debts	-	-	-	-	-	101.23
Other Operating Activities	36.92	34.3	30.36	29.19	32.91	106.57
Change in Accounts Receivable	1.71	1.71	-18.89	10.02	-46.93	-102.83
Change in Inventory	29.9	29.9	-54.51	-43.28	-60	-31.32
Change in Accounts Payable	-95.46	-95.46	-28.88	38.37	62.39	101.13
Operating Cash Flow	118.64	61.69	-2.7	38.29	-20.39	-6.15
Operating Cash Flow Growth	1041.58%	-	-	-	-	-
Capital Expenditures	-71.78	-81.11	-82.68	-91.71	-176.02	-180.46
Sale of Property, Plant & Equipment	5.79	5.5	2.44	0.34	1.53	0.26
Cash Acquisitions	11.64	-	-	-12.5	1.12	-
Divestitures	-9.41	-9.41	-	6.83	31.04	-
Investment in Securities	-66.5	-105.51	179.81	-53.42	-27.7	121.89
Other Investing Activities	0.14	14.58	17.18	18.18	16.54	20.26
Investing Cash Flow	-130.11	-175.94	116.74	-132.28	-153.49	-38.05
Long-Term Debt Issued	-	465.27	356.56	331.49	280.05	467.33
Total Debt Issued	228.5	465.27	356.56	331.49	280.05	467.33
Long-Term Debt Repaid	-	-447.46	-363.91	-378.01	-285.83	-309.02
Total Debt Repaid	-192.63	-447.46	-363.91	-378.01	-285.83	-309.02
Net Debt Issued (Repaid)	35.87	17.81	-7.35	-46.52	-5.77	158.31
Common Dividends Paid	-6.08	-10.36	-11.53	-12.74	-15.09	-13.73
Other Financing Activities	-11.93	-3.67	-11.99	4.07	2.37	-10.83
Financing Cash Flow	17.86	3.78	-30.87	-55.19	-18.49	133.75
Foreign Exchange Rate Adjustments	-0.26	-0.22	0.28	2.82	0.07	-0.48
Net Cash Flow	6.13	-110.68	83.44	-146.36	-192.31	89.07
Free Cash Flow	46.86	-19.42	-85.39	-53.42	-196.42	-186.62
Free Cash Flow Margin	4.23%	-1.53%	-7.09%	-4.38%	-16.34%	-18.45%
Free Cash Flow Per Share	0.05	-0.02	-0.11	-0.07	-0.25	-0.24
Cash Income Tax Paid	72.05	74.56	74.92	24.14	67.49	63.74
Levered Free Cash Flow	-64.88	-84.31	-30.15	3.23	-25.12	54.96
Unlevered Free Cash Flow	-60.82	-77.02	-21.97	12.07	-14.18	62.09
Change in Working Capital	-63.02	-63.02	-89.39	49.55	-54.72	-86.27

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.