SHE:002644 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	52.49	49.21	60.07	67.19	108.65	93.26
Depreciation & Amortization	55.23	55.23	51.3	52.49	49.94	48.56
Other Amortization	3.68	3.68	4.57	5.98	3.65	0.38
Loss (Gain) From Sale of Assets	-7.13	-7.13	-0.04	-	-0	-27.18
Asset Writedown & Restructuring Costs	-0.27	-0.27	-	0	0.2	0.37
Loss (Gain) From Sale of Investments	13.54	13.54	7.23	4.49	1.3	0.85
Provision & Write-off of Bad Debts	26.73	26.73	29.77	15.07	-	-
Other Operating Activities	75	30.41	6.18	2.8	2.17	1.5
Change in Accounts Receivable	-86.74	-86.74	-62.2	59.5	-189.54	-66.85
Change in Inventory	48.36	48.36	30.26	-7.3	-76.02	-0.8
Change in Accounts Payable	55.56	55.56	-79.85	-134.73	163.45	-49.49
Change in Other Net Operating Assets	-	-	-	-	23.32	11.09
Operating Cash Flow	231.83	183.95	38.98	65.71	86.61	11.85
Operating Cash Flow Growth	266.99%	371.85%	-40.67%	-24.13%	630.59%	-81.15%
Capital Expenditures	-12.49	-18.55	-13.29	-22.47	-41.53	-32.81
Sale of Property, Plant & Equipment	0.27	0.27	0.02	0	0.04	41.3
Cash Acquisitions	-	-	-	-15.46	-	-
Investment in Securities	-20	-20	0.34	2	-2.13	32.48
Other Investing Activities	-0.02	-0.02	1.21	1.77	0.75	1.67
Investing Cash Flow	-32.24	-38.3	-11.72	-34.16	-42.87	42.65
Long-Term Debt Issued	-	16	12	25.66	2.6	-
Total Debt Issued	14	16	12	25.66	2.6	-
Long-Term Debt Repaid	-	-24.83	-25.1	-21.45	-28.31	-35.27
Total Debt Repaid	-24.3	-24.83	-25.1	-21.45	-28.31	-35.27
Net Debt Issued (Repaid)	-10.3	-8.83	-13.1	4.21	-25.71	-35.27
Common Dividends Paid	-7.17	-7.02	-15.96	-27.94	-7.09	-61.43
Other Financing Activities	-0	-0	0.05	-1.26	3.74	3.3
Financing Cash Flow	-17.48	-15.85	-29	-25	-29.06	-93.41
Foreign Exchange Rate Adjustments	-0.19	-0.19	0.31	0.67	0.7	-0.21
Net Cash Flow	181.92	129.61	-1.43	7.23	15.38	-39.11
Free Cash Flow	219.33	165.4	25.7	43.24	45.08	-20.95
Free Cash Flow Growth	397.16%	543.70%	-40.58%	-4.08%	-	-
Free Cash Flow Margin	24.08%	18.07%	2.62%	3.72%	4.32%	-2.56%
Free Cash Flow Per Share	0.43	0.32	0.05	0.09	0.09	-0.04
Cash Interest Paid	-	-	-	-	-	0.95
Cash Income Tax Paid	100.57	100.57	81.59	101.13	68.65	78.4
Levered Free Cash Flow	215.57	146.89	-9.9	60.54	-23.75	-41.83
Unlevered Free Cash Flow	216.05	147.38	-9.38	61.32	-22.91	-41.24
Change in Working Capital	12.56	12.56	-120.1	-82.3	-79.31	-105.88

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