SHE:002542 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	-1,487	-1,384	-739.39	-707.47	-315.21	184.95
Depreciation & Amortization	128.96	128.96	149.9	194.86	181.34	218.38
Other Amortization	1.65	1.65	2.76	4.89	7.37	12.47
Loss (Gain) From Sale of Assets	1.07	1.07	-8.56	2.74	0.45	-1.17
Asset Writedown & Restructuring Costs	134.44	134.44	75.09	145.87	124.21	27.23
Loss (Gain) From Sale of Investments	-43.96	-43.96	-19.7	-17.58	-3.94	4.98
Provision & Write-off of Bad Debts	640.07	640.07	310.53	213.17	189.54	243.15
Other Operating Activities	-393.08	124.29	99.15	137.21	183.16	129.36
Change in Accounts Receivable	1,366	1,366	-229.66	955.14	49.63	-1,702
Change in Inventory	16.36	16.36	65.32	-22.93	19.84	-115.92
Change in Accounts Payable	-248.04	-248.04	512.93	-502.44	-189.25	830.86
Operating Cash Flow	-3.73	616.46	87.16	299.99	215.4	-207.96
Operating Cash Flow Growth	-	607.25%	-70.94%	39.27%	-	-
Capital Expenditures	-8.85	-22.21	-10.8	-76.66	-237.99	-96.26
Sale of Property, Plant & Equipment	7.83	2.09	12.88	8.48	2.35	1.18
Divestitures	-	-	-	-	0.01	39.59
Investment in Securities	-	0.44	4.86	-7.19	-17.45	46.2
Other Investing Activities	17.16	15.51	-	-	0.03	-
Investing Cash Flow	16.14	-4.16	6.93	-75.36	-253.05	-9.29
Long-Term Debt Issued	-	950.99	1,848	1,622	2,309	3,210
Long-Term Debt Repaid	-	-1,796	-1,565	-2,154	-2,298	-2,502
Net Debt Issued (Repaid)	-188.58	-845.41	283.37	-532.62	11.72	707.92
Issuance of Common Stock	-	-	0.05	0.91	0.23	0.22
Common Dividends Paid	-85.55	-144.54	-99.86	-119.4	-188.85	-136.73
Other Financing Activities	77.99	-0.39	54.83	-4.5	-49.64	2.21
Financing Cash Flow	-196.14	-990.34	238.39	-655.6	-226.55	573.63
Foreign Exchange Rate Adjustments	-0.64	-1.07	0.55	-2.36	-1.03	-2.59
Net Cash Flow	-184.38	-379.11	333.04	-433.33	-265.23	353.79
Free Cash Flow	-12.58	594.26	76.36	223.33	-22.59	-304.22
Free Cash Flow Growth	-	678.24%	-65.81%	-	-	-
Free Cash Flow Margin	-1.22%	38.84%	3.02%	10.26%	-0.44%	-5.37%
Free Cash Flow Per Share	-0.01	0.33	0.04	0.12	-0.01	-0.16
Cash Income Tax Paid	45.78	81.99	73.39	70.96	161.39	172.92
Levered Free Cash Flow	420.17	798.56	287.09	347.71	30.83	-489.65
Unlevered Free Cash Flow	495.5	879.45	355.2	444.04	135.49	-396.09
Change in Working Capital	1,014	1,014	217.4	326.29	-151.52	-1,027

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