SHE:002541 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	613.05	772.27	1,179	1,163	1,150	799.09
Depreciation & Amortization	713.11	713.11	552.91	424.15	346.56	280.09
Other Amortization	3.32	3.32	-	-	-	-
Loss (Gain) From Sale of Assets	-1.09	-1.09	2.58	-51.13	0.1	-0.2
Asset Writedown & Restructuring Costs	4.6	4.6	-	0.28	0.44	-
Loss (Gain) From Sale of Investments	1.1	1.1	1.85	1.83	-13.19	16.37
Provision & Write-off of Bad Debts	56.99	56.99	-59.9	-71.76	3.03	65.71
Other Operating Activities	561.01	351.26	292.69	237.86	162.56	88.15
Change in Accounts Receivable	-648.21	-648.21	-1,288	790.3	-1,290	-244.97
Change in Inventory	-536.42	-536.42	-135.52	-783.48	-1,757	-1,086
Change in Accounts Payable	-63.61	-63.61	653.83	-959.8	1,349	415.14
Change in Other Net Operating Assets	2.56	2.56	2.56	1.49	-	-55.68
Operating Cash Flow	623.96	573.43	1,098	622.46	-201.98	159.14
Operating Cash Flow Growth	-7.22%	-47.77%	76.36%	-	-	-81.73%
Capital Expenditures	-1,071	-1,327	-1,675	-1,872	-1,661	-1,229
Sale of Property, Plant & Equipment	16.22	8.83	19.99	57.86	35.3	65.21
Divestitures	-	-	-	-	10.73	-
Investment in Securities	-36.5	-	-	-	8.02	2.5
Other Investing Activities	-	-	-	-	0.16	41.3
Investing Cash Flow	-1,091	-1,318	-1,655	-1,815	-1,606	-1,120
Long-Term Debt Issued	-	4,944	4,077	4,002	3,603	4,858
Long-Term Debt Repaid	-	-3,282	-2,965	-2,999	-2,547	-2,410
Net Debt Issued (Repaid)	1,017	1,661	1,111	1,003	1,056	2,448
Repurchase of Common Stock	-	-	-68.27	-	-	-
Common Dividends Paid	-571.01	-666.43	-438.94	-367.43	-224.51	-171.23
Other Financing Activities	2.45	2.45	-	-	-	5.37
Financing Cash Flow	448.17	997.08	604.14	635.57	831.64	2,282
Foreign Exchange Rate Adjustments	0.01	0.01	0.01	2.97	-0.36	-3.32
Net Cash Flow	-19.01	252.18	47.3	-553.6	-977.2	1,318
Free Cash Flow	-446.91	-753.74	-576.84	-1,250	-1,863	-1,070
Free Cash Flow Margin	-2.07%	-3.50%	-2.45%	-6.30%	-9.54%	-7.95%
Free Cash Flow Per Share	-0.65	-1.09	-0.82	-1.77	-2.62	-1.57
Cash Income Tax Paid	903.13	1,010	1,218	1,089	759.26	465.81
Levered Free Cash Flow	-1,379	-1,839	-707.72	-2,394	-2,094	-1,481
Unlevered Free Cash Flow	-1,160	-1,626	-524.79	-2,244	-1,992	-1,415
Change in Working Capital	-1,328	-1,328	-871.64	-1,081	-1,852	-1,090

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