SHE:002620 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-67.78	-185.86	-372.59	9.55	-1,843
Depreciation & Amortization	42.72	52.68	9.45	67.02	52.92
Other Amortization	10.02	10.72	10.34	10.37	10.22
Loss (Gain) From Sale of Assets	0.68	1.88	-0.04	-0.01	-1
Asset Writedown & Restructuring Costs	-470.11	11.29	38.89	-24.7	213.15
Loss (Gain) From Sale of Investments	-	0.02	-65.76	1.72	1.2
Provision & Write-off of Bad Debts	-	87.15	340.04	569.03	1,207
Other Operating Activities	543.02	79.85	48.56	-458.42	618.59
Change in Accounts Receivable	-260.23	314.56	-96.12	29.08	-669.74
Change in Inventory	22.17	36.51	54.88	83.46	28.54
Change in Accounts Payable	236.54	-394.56	21.48	-209.28	249.93
Change in Other Net Operating Assets	-	-	-	-	-4.1
Operating Cash Flow	56.84	30.4	26.74	113.33	-125.88
Operating Cash Flow Growth	86.94%	13.69%	-76.40%	-	-
Capital Expenditures	-	-0.01	-2.09	-30.94	-12.63
Sale of Property, Plant & Equipment	1.08	3.79	4.52	0	6.12
Divestitures	-	3.27	137.26	-	-
Other Investing Activities	-	-	2.3	17	-
Investing Cash Flow	1.08	7.04	141.98	-13.94	-6.51
Short-Term Debt Issued	-	-	-	-	1,208
Long-Term Debt Issued	-	-	350	189.97	-
Total Debt Issued	-	-	350	189.97	1,208
Short-Term Debt Repaid	-	-	-	-	-1,063
Long-Term Debt Repaid	-7.15	-20.79	-523.81	-203.3	-3.82
Total Debt Repaid	-7.15	-20.79	-523.81	-203.3	-1,067
Net Debt Issued (Repaid)	-7.15	-20.79	-173.81	-13.33	141.12
Issuance of Common Stock	0.13	-	-	-	-
Repurchase of Common Stock	-	-8.84	-	-2.63	-
Common Dividends Paid	-33	-48.88	-56.45	-54.44	-78.42
Other Financing Activities	-	-31	-108.5	-	-
Financing Cash Flow	-40.02	-109.51	-338.76	-70.4	62.71
Net Cash Flow	17.89	-72.06	-170.03	28.99	-69.68
Free Cash Flow	56.84	30.39	24.65	82.39	-138.51
Free Cash Flow Growth	87.01%	23.29%	-70.08%	-	-
Free Cash Flow Margin	14.35%	3.88%	1.59%	3.83%	-3.94%
Free Cash Flow Per Share	0.15	0.08	0.07	0.26	-0.37
Cash Income Tax Paid	32.46	68.9	70.37	66.84	110
Levered Free Cash Flow	30.35	121.48	-73.93	-106.61	1,019
Unlevered Free Cash Flow	30.35	153.45	-37.04	-72.12	1,053
Change in Working Capital	-1.7	-27.33	17.85	-61.23	-385.38

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