SHE:002546 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	562.16	578.3	266.68	61.91	11.16	223.24
Depreciation & Amortization	24.01	24.01	27.83	28.82	33.33	38.94
Other Amortization	3.17	3.17	2.03	2.45	2.51	3.53
Loss (Gain) From Sale of Assets	0.2	0.2	-	-	-	0.23
Asset Writedown & Restructuring Costs	0.17	0.17	3.61	-	-	-0.4
Loss (Gain) From Sale of Investments	-540.43	-540.43	-157.97	39.32	108.55	-199.91
Provision & Write-off of Bad Debts	0.53	0.53	4.74	1.08	1.12	2.09
Other Operating Activities	72.69	6.61	11.08	3.78	0.93	1.72
Change in Accounts Receivable	16.1	16.1	58.08	-74.14	-27.7	-20.49
Change in Inventory	47.3	47.3	31.35	-29.62	-88.05	-28.04
Change in Accounts Payable	-76.86	-76.86	-11.76	-23.96	88.09	12.69
Operating Cash Flow	175.52	125.58	247.16	-5.82	112.94	28.05
Operating Cash Flow Growth	-9.59%	-49.19%	-	-	302.62%	-81.32%
Capital Expenditures	-6.26	-7.18	-5.46	-7.18	-15.02	-16.16
Sale of Property, Plant & Equipment	37.94	0.13	-	0.07	-	0.07
Divestitures	-0.02	-0.02	-	-	-	1.03
Investment in Securities	-182.56	-154.3	-288.9	94.3	-36.64	44.07
Other Investing Activities	272.31	215.88	67.18	34.18	46.03	121.73
Investing Cash Flow	121.42	54.5	-227.18	121.38	-5.64	150.75
Short-Term Debt Issued	-	26	24	24	20	20
Total Debt Issued	29	26	24	24	20	20
Short-Term Debt Repaid	-	-26	-24	-20	-20	-20
Total Debt Repaid	-29	-26	-24	-20	-20	-20
Net Debt Issued (Repaid)	-	-	-	4	-	-
Common Dividends Paid	-102.87	-100.86	-100.93	-100.91	-100.9	-100.96
Other Financing Activities	-0.1	-0.1	-	-	-0.01	-0.7
Financing Cash Flow	-102.97	-100.97	-100.93	-96.91	-100.91	-101.66
Foreign Exchange Rate Adjustments	-	-	-	-	0	-
Net Cash Flow	193.96	79.12	-80.95	18.65	6.4	77.14
Free Cash Flow	169.26	118.4	241.7	-13	97.92	11.9
Free Cash Flow Growth	-9.94%	-51.02%	-	-	723.17%	-91.10%
Free Cash Flow Margin	23.91%	17.21%	31.53%	-2.10%	15.78%	2.56%
Free Cash Flow Per Share	0.20	0.14	0.29	-0.01	0.09	0.01
Cash Interest Paid	0.77	0.77	0.92	0.82	0.81	0.88
Cash Income Tax Paid	85.54	94.07	42.67	57.98	31.33	47
Levered Free Cash Flow	153.85	108.17	201.19	-38.16	77.41	37.46
Unlevered Free Cash Flow	154.29	108.65	201.76	-37.65	77.92	38
Change in Working Capital	53.01	53.01	89.17	-143.17	-44.66	-41.39

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