SHE:002659 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	-13.82	-36.96	-49.72	-96.51	-120.62	-129.58
Depreciation & Amortization	66.94	66.94	59.43	63.32	64.96	64.78
Other Amortization	32.52	32.52	32.38	26.49	29.21	27.3
Loss (Gain) From Sale of Assets	-	-	-0	-0	-0	0.05
Loss (Gain) From Sale of Investments	-2.44	-2.44	-3.09	-3.41	-12.83	-2.83
Provision & Write-off of Bad Debts	1.42	1.42	0.22	0.08	0.03	-6.51
Other Operating Activities	107.85	40.49	47.2	48.55	82.63	74.21
Change in Accounts Receivable	-24.65	-24.65	-0.39	-227.79	-4.44	-9.72
Change in Inventory	0	0	0.08	0.01	0.05	-0.09
Change in Accounts Payable	-29.24	-29.24	-18.42	405.63	103.52	29.15
Operating Cash Flow	146.33	55.83	65.14	223.02	121.49	3.5
Operating Cash Flow Growth	6871.45%	-14.29%	-70.79%	83.57%	3374.10%	-84.14%
Capital Expenditures	-31.8	-3.38	-13.14	-27.31	-60.04	-90.25
Sale of Property, Plant & Equipment	0.2	-	0	0	0.01	63.51
Divestitures	-	-	-	-	-35.53	-
Investment in Securities	2.44	2.44	3.09	38.21	228.55	-230
Other Investing Activities	-1.02	-	-	3.48	13.29	2.67
Investing Cash Flow	-30.18	-0.94	-10.05	14.38	146.28	-254.07
Long-Term Debt Issued	-	-	-	43.46	50.9	484.45
Total Debt Issued	-	-	-	43.46	50.9	484.45
Long-Term Debt Repaid	-	-118.01	-55.41	-257.53	-624.24	-285.76
Total Debt Repaid	-118.01	-118.01	-55.41	-257.53	-624.24	-285.76
Net Debt Issued (Repaid)	-118.01	-118.01	-55.41	-214.08	-573.34	198.69
Issuance of Common Stock	-	-	-	-	-	461.01
Common Dividends Paid	-23.75	-28.75	-34.59	-43.27	-53.37	-82.08
Other Financing Activities	-15.14	-7.65	-10.15	-7.03	-	-
Financing Cash Flow	-156.9	-154.41	-100.14	-264.39	-626.71	577.62
Foreign Exchange Rate Adjustments	0.15	0.17	0.19	0.92	-0.23	-0.82
Net Cash Flow	-40.59	-99.35	-44.86	-26.07	-359.17	326.23
Free Cash Flow	114.53	52.45	52	195.71	61.45	-86.75
Free Cash Flow Growth	-	0.87%	-73.43%	218.47%	-	-
Free Cash Flow Margin	33.28%	16.41%	20.48%	113.91%	21.62%	-27.02%
Free Cash Flow Per Share	0.22	0.09	0.08	0.32	0.10	-0.16
Cash Income Tax Paid	40.92	36.77	18.16	12.99	12.54	28.8
Levered Free Cash Flow	201.71	150.78	26.53	204.6	-431.13	-127.49
Unlevered Free Cash Flow	220.72	170.15	49.72	236.52	-381.12	-79.88
Change in Working Capital	-46.15	-46.15	-21.28	184.5	78.11	-23.91

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