SHE:002678 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	Dec '21 Dec 31, 2021
Net Income	-380.94	-235.62	5.88	123.3	186.07
Depreciation & Amortization	81.45	106.7	131.35	128.29	119.45
Other Amortization	0.77	1.81	0.37	0.54	0.9
Loss (Gain) From Sale of Assets	-1.53	-0.13	-69.28	-0.11	-0.18
Asset Writedown & Restructuring Costs	105.67	29.45	0.9	0.7	0.86
Loss (Gain) From Sale of Investments	-5.88	-1.26	0.16	-22.22	-11.02
Provision & Write-off of Bad Debts	-	3.28	-0.89	5.12	-0.26
Other Operating Activities	7.08	33.46	27.3	24.32	29.17
Change in Accounts Receivable	-30.89	0.75	-4.45	0.86	-17.81
Change in Inventory	81.13	62.45	-133.68	-109.88	-54.7
Change in Accounts Payable	-13.72	-190.53	-278.61	-53.58	48.98
Operating Cash Flow	-134.91	-217.05	-315.88	94.91	311.06
Operating Cash Flow Growth	-	-	-	-69.49%	-43.22%
Capital Expenditures	-125.76	-213.84	-56.49	-123.39	-76.17
Sale of Property, Plant & Equipment	2.22	18.46	49.68	0.04	0.64
Investment in Securities	12	218	302	-218	-451.18
Other Investing Activities	6.4	9.65	11.69	21.67	23.71
Investing Cash Flow	-105.14	32.27	306.88	-319.67	-503
Short-Term Debt Issued	-	75.43	-	-	-
Long-Term Debt Issued	163.45	123.4	356.65	499.5	449.14
Total Debt Issued	163.45	198.83	356.65	499.5	449.14
Long-Term Debt Repaid	-74.71	-318.66	-616.34	-372.89	-480.3
Net Debt Issued (Repaid)	88.74	-119.84	-259.69	126.6	-31.16
Issuance of Common Stock	-	1.56	-	17.29	-
Repurchase of Common Stock	-	-5.28	-6.92	-	-
Common Dividends Paid	-5.38	-7.27	-51.32	-78.9	-65.46
Other Financing Activities	-0.31	-	-0.31	-2.48	-1.67
Financing Cash Flow	83.05	-130.82	-318.23	62.52	-98.29
Foreign Exchange Rate Adjustments	5.22	-1.7	4.21	6.04	-1.19
Net Cash Flow	-151.78	-317.31	-323.03	-156.21	-291.41
Free Cash Flow	-260.67	-430.89	-372.38	-28.48	234.9
Free Cash Flow Growth	-	-	-	-	-45.83%
Free Cash Flow Margin	-45.76%	-63.63%	-33.01%	-1.72%	11.63%
Free Cash Flow Per Share	-0.20	-0.31	-0.25	-0.02	0.17
Cash Income Tax Paid	41.48	39.11	36.41	85.7	132.92
Levered Free Cash Flow	-95.2	-365.48	-429.69	-175.07	194.85
Unlevered Free Cash Flow	-95.2	-361.71	-420.08	-162.75	205.24
Change in Working Capital	58.46	-154.75	-411.67	-165.03	-13.93

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