SHE:002595 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	2,383	2,011	1,612	1,200	1,053	1,007
Depreciation & Amortization	332.88	332.88	313.5	293.53	263.87	239.23
Other Amortization	6.78	6.78	-	-	-	-
Loss (Gain) From Sale of Assets	1.6	1.6	-3.28	-2.57	-8.13	-5.98
Asset Writedown & Restructuring Costs	1.03	1.03	1.14	2.78	3.41	3.26
Loss (Gain) From Sale of Investments	-51.42	-51.42	-38.18	-31.88	-36.05	-23.06
Provision & Write-off of Bad Debts	27.34	27.34	2.85	20.8	9.82	5.71
Other Operating Activities	-422.39	-8.54	6.83	6.1	13.98	16.14
Change in Accounts Receivable	-784.74	-784.74	-283.76	-958.75	-752.81	-1,212
Change in Inventory	-806.02	-806.02	-54.07	-172.8	-506.86	-79.97
Change in Accounts Payable	387.4	387.4	3.27	183.55	71.7	-90.77
Change in Other Net Operating Assets	3.84	3.84	48.06	18.4	-	-
Operating Cash Flow	1,097	1,139	1,605	555.41	118.38	-127.8
Operating Cash Flow Growth	3.92%	-29.01%	188.96%	369.19%	-	-
Capital Expenditures	-907.96	-372.16	-302.28	-368.67	-210.05	-214.86
Sale of Property, Plant & Equipment	1.96	1.14	2.02	2.47	2.83	2.77
Cash Acquisitions	-	-	-	-	-	-11.28
Investment in Securities	-257.48	63.66	-569.91	113.86	-4	179.5
Other Investing Activities	45.42	48.3	43.82	21.41	41.09	27.81
Investing Cash Flow	-1,118	-259.05	-826.36	-230.92	-170.13	-16.06
Long-Term Debt Issued	-	70.91	40.7	219.55	494.39	1,060
Long-Term Debt Repaid	-	-37.04	-5.06	-5.72	-9.15	-682.37
Net Debt Issued (Repaid)	67.2	33.86	35.64	213.82	485.24	377.96
Issuance of Common Stock	18.45	18.45	14.02	57.84	-	-
Repurchase of Common Stock	-1.86	-1.86	-77.5	-99.81	-	-
Common Dividends Paid	-619.66	-800.38	-299.45	-298.8	-300	-307.87
Other Financing Activities	-39.66	-	-	-0.85	0.32	0
Financing Cash Flow	-575.55	-749.93	-327.29	-127.79	185.56	70.09
Foreign Exchange Rate Adjustments	45.62	20.14	4.66	13.21	-15.51	-11.86
Net Cash Flow	-551.11	150.48	455.91	209.91	118.3	-85.63
Free Cash Flow	188.92	767.17	1,303	186.74	-91.67	-342.67
Free Cash Flow Growth	-77.35%	-41.11%	597.55%	-	-	-
Free Cash Flow Margin	1.80%	8.71%	18.18%	2.81%	-1.53%	-6.47%
Free Cash Flow Per Share	0.24	0.96	1.64	0.23	-0.12	-0.43
Cash Income Tax Paid	479.12	427.53	390.19	215.87	311.91	307.31
Levered Free Cash Flow	-28.42	296.08	1,046	326.48	332.66	219.07
Unlevered Free Cash Flow	-28.42	299.14	1,049	331.16	342.25	230.2
Change in Working Capital	-1,182	-1,182	-290.04	-933.47	-1,182	-1,370

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