SHE:002580 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	199.1	205.26	173.58	136.25	33.95	28.65
Depreciation & Amortization	76.05	76.05	61.37	59.05	52.33	36.98
Other Amortization	0.74	0.74	-	-	-	-
Loss (Gain) From Sale of Assets	0	0	-0.11	-	-	-0.63
Asset Writedown & Restructuring Costs	-	-	0.43	-	3.19	17.98
Loss (Gain) From Sale of Investments	-15.6	-15.6	-7.42	-21.86	-12.69	-7.78
Provision & Write-off of Bad Debts	19.62	19.62	2.44	15.84	2.35	-
Other Operating Activities	69.24	-3.92	18.12	4.68	30.6	28.23
Change in Accounts Receivable	-149.48	-149.48	81.52	18.1	-211.18	57.81
Change in Inventory	-11.03	-11.03	-212.4	16.85	-42.45	-47.36
Change in Accounts Payable	-2.31	-2.31	-150.34	-35.04	48.49	64.65
Change in Other Net Operating Assets	-2.22	-2.22	-8.46	-6.85	-8.59	-8.56
Operating Cash Flow	185.66	118.65	-56.48	187.71	-101.57	168.85
Operating Cash Flow Growth	69.72%	-	-	-	-	6.34%
Capital Expenditures	-129.65	-51.73	-128.5	-325.46	-55.97	-34.57
Sale of Property, Plant & Equipment	-	-	-	-	0	0.08
Investment in Securities	52.26	3.11	-44.2	21.12	-122.7	-0.5
Other Investing Activities	2.23	15.55	8.82	21.83	12.54	19.6
Investing Cash Flow	-75.16	-33.07	-163.88	-282.52	-166.13	-15.39
Long-Term Debt Issued	-	194.08	232.85	16	93	150
Long-Term Debt Repaid	-	-55.1	-142.5	-41.5	-124	-210.5
Net Debt Issued (Repaid)	64.32	138.98	90.35	-25.5	-31	-60.5
Issuance of Common Stock	-	-	14	121	1.75	485.48
Common Dividends Paid	-29.22	-36.66	-16.72	-6.33	-11.35	-20.09
Other Financing Activities	-	-	-0.11	-	-7.38	-0.29
Financing Cash Flow	35.1	102.32	87.51	89.17	-47.98	404.6
Foreign Exchange Rate Adjustments	3.4	5.6	2.93	4.56	-3.32	-9
Net Cash Flow	149	193.5	-129.92	-1.07	-319	549.06
Free Cash Flow	56.01	66.92	-184.98	-137.75	-157.54	134.28
Free Cash Flow Growth	-18.86%	-	-	-	-	-10.99%
Free Cash Flow Margin	1.67%	2.22%	-6.58%	-4.93%	-7.54%	7.62%
Free Cash Flow Per Share	0.12	0.15	-0.41	-0.30	-0.33	0.38
Cash Interest Paid	-	-	-	-	7.14	-
Cash Income Tax Paid	231.19	180.32	174.95	132.79	107.43	102.96
Levered Free Cash Flow	11.88	155.67	-281.83	0.36	-132.54	148.71
Unlevered Free Cash Flow	18.89	161.73	-277.25	4.28	-128.08	155.72
Change in Working Capital	-163.51	-163.51	-304.9	-6.26	-211.3	65.43

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