SHE:002690 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	718.01	649.17	744.83	730.11	511.09	438.19
Depreciation & Amortization	32.97	32.97	33.67	28.9	24.78	16.77
Other Amortization	1.67	1.67	-	0.01	0.15	0.49
Asset Writedown & Restructuring Costs	-1.18	-1.18	-0.18	7.02	0.47	0.02
Loss (Gain) From Sale of Investments	-4.93	-4.93	-5.05	-10.36	-27.28	-42.85
Provision & Write-off of Bad Debts	-3.88	-3.88	16.1	8.04	-1.6	6.09
Other Operating Activities	95.46	-3.6	-7.03	-79.26	18.93	27.1
Change in Accounts Receivable	161.72	161.72	-234.5	-173.66	43.77	-23.17
Change in Inventory	129.32	129.32	58.16	-120.57	-88.98	-121.75
Change in Accounts Payable	-93.22	-93.22	50.74	-93.8	100.64	119.69
Change in Other Net Operating Assets	8.24	8.24	18.62	22.35	-	-
Operating Cash Flow	1,046	877.68	675.35	315.95	578.6	415.36
Operating Cash Flow Growth	39.98%	29.96%	113.75%	-45.39%	39.30%	-17.19%
Capital Expenditures	-29.01	-19.26	-33.66	-75.85	-101.44	-92.37
Sale of Property, Plant & Equipment	0.03	0.02	0.16	1.07	0.05	0.02
Investment in Securities	280	-230	-57.45	560	390	280
Other Investing Activities	8.33	5.53	5.13	14.3	26.22	42.85
Investing Cash Flow	259.36	-243.71	-85.81	499.52	314.83	230.5
Issuance of Common Stock	-	-	-	8.65	46.22	-
Repurchase of Common Stock	-0.93	-0.93	-2.02	-	-	-
Common Dividends Paid	-617.5	-616.1	-617.57	-542.6	-540.8	-540.8
Other Financing Activities	0.57	-	-	-	-	-
Financing Cash Flow	-617.85	-617.03	-619.59	-533.95	-494.58	-540.8
Foreign Exchange Rate Adjustments	-8.92	5.75	4.75	80.52	-15.16	-27.95
Net Cash Flow	678.17	22.69	-25.3	362.05	383.69	77.11
Free Cash Flow	1,017	858.42	641.69	240.1	477.16	323
Free Cash Flow Growth	39.60%	33.78%	167.25%	-49.68%	47.73%	-21.57%
Free Cash Flow Margin	41.89%	37.15%	26.46%	11.34%	26.32%	21.59%
Free Cash Flow Per Share	1.16	0.97	0.73	0.27	0.54	0.37
Cash Income Tax Paid	114.64	115.33	102.66	107.32	100.33	76.66
Levered Free Cash Flow	721.56	628.21	334.66	67.11	348.06	241.18
Unlevered Free Cash Flow	721.56	628.21	334.66	67.11	348.06	241.18
Change in Working Capital	207.46	207.46	-107	-368.51	52.07	-30.45

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