SHE:002689 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	68.14	18.12	31.01	-111.4	-28.11	-14.28
Depreciation & Amortization	44.01	44.01	44.09	48.69	52.25	52.19
Other Amortization	0.96	0.96	-	0	-	-
Loss (Gain) From Sale of Assets	0.77	0.77	-0.02	-0.13	0.09	-1.3
Asset Writedown & Restructuring Costs	13.89	13.89	2.25	10.9	0.02	0.52
Loss (Gain) From Sale of Investments	-34.38	-34.38	-15.78	-30.2	-8.62	0.4
Provision & Write-off of Bad Debts	18.16	18.16	6.46	38.84	-5.1	10.32
Other Operating Activities	210	3.49	0.86	10.55	-0.03	2.03
Change in Accounts Receivable	-104.52	-104.52	70.64	-82	110.94	54.59
Change in Inventory	-3.72	-3.72	150.36	-3.34	-100.9	17.97
Change in Accounts Payable	-58.28	-58.28	-170.15	-39.83	17.93	0.87
Change in Other Net Operating Assets	-15.31	-15.31	-21.68	-8.3	-9.74	-16.71
Operating Cash Flow	147.03	-109.51	106.68	-168.84	30.96	107.79
Operating Cash Flow Growth	-	-	-	-	-71.27%	-
Capital Expenditures	-5.13	-4.18	-5.9	-2.12	-0.56	-27.35
Sale of Property, Plant & Equipment	1.54	4.51	5.38	1.51	1.4	3.01
Divestitures	0.7	18	13.37	102.32	1.03	0.57
Investment in Securities	8.89	70.86	-58.1	-30	-	-
Other Investing Activities	0.06	0.07	1.09	0	0.72	-
Investing Cash Flow	6.06	89.26	-44.15	71.71	2.6	-23.77
Other Financing Activities	4.06	-41.75	-46.76	-4.94	3.71	12.39
Financing Cash Flow	4.06	-41.75	-46.76	-4.94	3.71	12.39
Foreign Exchange Rate Adjustments	2.31	3.58	2.1	1.98	-1.3	-5.76
Net Cash Flow	159.46	-58.42	17.86	-100.09	35.97	90.65
Free Cash Flow	141.89	-113.69	100.78	-170.96	30.41	80.44
Free Cash Flow Growth	-	-	-	-	-62.20%	-
Free Cash Flow Margin	10.84%	-9.45%	7.54%	-17.30%	3.70%	9.47%
Free Cash Flow Per Share	0.14	-0.11	0.10	-0.16	0.03	0.08
Cash Income Tax Paid	-	-8.52	-2.14	5.65	25.24	32.27
Levered Free Cash Flow	125.22	-104.14	126.04	-159.65	75.72	126.35
Unlevered Free Cash Flow	125.3	-103.95	126.19	-159.65	75.72	126.35
Change in Working Capital	-174.53	-174.53	37.81	-136.1	20.47	57.92

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