SHE:002596 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	-201.11	-214.72	-241.53	-506.84	-493.23	-1,141
Depreciation & Amortization	84.95	84.95	99.32	108.83	126.72	141.32
Other Amortization	13.77	13.77	16.65	28.2	27.57	26.59
Loss (Gain) From Sale of Assets	-1.4	-1.4	-20.51	4.17	10.99	0.54
Asset Writedown & Restructuring Costs	2.77	2.77	-9.5	252.29	94.96	654.47
Loss (Gain) From Sale of Investments	-2.82	-2.82	-14.63	-2.3	-237.87	15.08
Provision & Write-off of Bad Debts	21.17	21.17	-28.81	116.24	550.85	388.86
Other Operating Activities	17.36	42.25	132.47	120.67	62.67	103.55
Change in Accounts Receivable	250.65	250.65	243.73	1.25	-79.98	-414.12
Change in Inventory	19.58	19.58	23.96	10.69	65.9	28.61
Change in Accounts Payable	-141.44	-141.44	-139.15	-30.14	-125.83	138.75
Operating Cash Flow	53.4	64.66	88.01	95.23	-26.96	-25.76
Operating Cash Flow Growth	-11.13%	-26.53%	-7.58%	-	-	-
Capital Expenditures	-9.34	-9.1	-22.07	-21.11	-35.68	-102.13
Sale of Property, Plant & Equipment	-2.96	1.23	94.6	9.61	0.24	2.11
Divestitures	-	-	-	2.86	257.68	18
Investment in Securities	2.59	-0	-20	-0.49	85.5	-17
Other Investing Activities	2.45	-	-	2.25	-	25
Investing Cash Flow	22.12	21.51	50.4	-6.87	307.74	-74.02
Long-Term Debt Issued	-	199.96	214.83	194.89	191.54	310.13
Long-Term Debt Repaid	-	-249.55	-276.14	-272.58	-370.28	-293.2
Net Debt Issued (Repaid)	-58.44	-49.59	-61.32	-77.69	-178.74	16.94
Common Dividends Paid	-36.87	-27.16	-64.34	-70.86	-80.84	-130.34
Other Financing Activities	26.38	-	0.04	0.25	-54.51	-68.53
Financing Cash Flow	-68.93	-76.74	-125.61	-148.3	-314.09	-181.93
Net Cash Flow	6.58	9.42	12.8	-59.95	-33.3	-281.71
Free Cash Flow	44.06	55.56	65.95	74.12	-62.64	-127.89
Free Cash Flow Growth	9.50%	-15.74%	-11.03%	-	-	-
Free Cash Flow Margin	4.00%	4.77%	5.06%	4.33%	-3.24%	-4.60%
Free Cash Flow Per Share	0.04	0.05	0.06	0.06	-0.06	-0.11
Cash Income Tax Paid	89.44	85.19	84.74	99.1	86.03	163.73
Levered Free Cash Flow	147.52	130.65	168.1	101.04	84.78	-720.97
Unlevered Free Cash Flow	193.37	176.5	220.43	161.13	152.87	-645.59
Change in Working Capital	118.7	118.7	154.56	-26.03	-169.61	-215.45

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