SHE:002575 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	-12.24	-26.4	-18.4	9.17	11.3	19.68
Depreciation & Amortization	59.03	59.03	6.71	1.23	1.06	4.56
Other Amortization	0.7	0.7	0.59	-	0.08	0.19
Loss (Gain) From Sale of Assets	-	-	-	-	0.14	-
Asset Writedown & Restructuring Costs	2.79	2.79	-0.28	2.85	1.23	-1.19
Loss (Gain) From Sale of Investments	-2.67	-2.67	-7.21	-8.56	-7.01	-7.33
Provision & Write-off of Bad Debts	0.41	0.41	3.86	-	0.48	2.07
Other Operating Activities	-34.38	0.15	-2.09	0.42	0.79	1.36
Change in Accounts Receivable	15.46	15.46	-55.18	7.55	-17.24	-7.96
Change in Inventory	21.32	21.32	-27.11	-5.6	1.56	-3.75
Change in Accounts Payable	30.32	30.32	31.45	9.65	20.8	-26.17
Change in Other Net Operating Assets	-	-	-	0.75	-	-
Operating Cash Flow	73.8	94.17	-71.98	19.07	13.09	-20.49
Operating Cash Flow Growth	-	-	-	45.76%	-	-
Capital Expenditures	-0.7	-0.86	-39.92	-0.01	-	-0.01
Sale of Property, Plant & Equipment	-	-	-	15.93	22.4	-
Divestitures	-	-	-	-	3.5	29.66
Investment in Securities	-91.34	-83.57	375.7	-76.09	-76.14	-15.72
Investing Cash Flow	-92.05	-84.43	335.78	-60.17	-50.24	13.93
Short-Term Debt Issued	-	10	10	-	-	-
Total Debt Issued	10	10	10	-	-	-
Short-Term Debt Repaid	-	-10	-	-	-	-
Long-Term Debt Repaid	-	-0.77	-1.2	-0.34	-	-
Total Debt Repaid	-10.77	-10.77	-1.2	-0.34	-	-
Net Debt Issued (Repaid)	-0.77	-0.77	8.8	-0.34	-	-
Issuance of Common Stock	-	-	-	63.84	-	-
Repurchase of Common Stock	-0.03	-0.03	-	-	-	-
Common Dividends Paid	-0.26	-0.27	-0.06	-	-	-
Other Financing Activities	10.03	10	-264.32	-8.86	-12.43	57.82
Financing Cash Flow	8.97	8.93	-255.58	54.64	-12.43	57.82
Foreign Exchange Rate Adjustments	-0.01	-0.01	0	0	0.02	-0.01
Net Cash Flow	-9.29	18.66	8.22	13.55	-49.56	51.25
Free Cash Flow	73.1	93.31	-111.9	19.07	13.09	-20.51
Free Cash Flow Growth	-	-	-	45.71%	-	-
Free Cash Flow Margin	15.82%	19.83%	-30.28%	30.61%	15.40%	-40.03%
Free Cash Flow Per Share	0.10	0.14	-0.18	0.02	0.02	-0.03
Cash Income Tax Paid	5.11	4.93	3.67	3.28	9.17	18.01
Levered Free Cash Flow	70.35	91.42	-108.58	88.99	-17.31	68.65
Unlevered Free Cash Flow	70.66	91.73	-108.23	89	-17	69.23
Change in Working Capital	60.16	60.16	-55.16	13.96	5.02	-39.83

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