SHE:002690 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	719.12	649.17	744.83	730.11	511.09
Depreciation & Amortization	32.63	34.53	33.67	28.9	24.78
Other Amortization	1.66	0.11	-	0.01	0.15
Asset Writedown & Restructuring Costs	0.06	0.01	-0.01	7.02	0.47
Loss (Gain) From Sale of Investments	-6.24	-6.13	-5.21	-10.36	-27.28
Provision & Write-off of Bad Debts	2.1	-3.88	16.1	8.04	-1.6
Other Operating Activities	14.48	-3.6	-7.03	-79.26	18.93
Change in Accounts Receivable	66.84	161.72	-234.5	-173.66	43.77
Change in Inventory	-36.22	129.32	58.16	-120.57	-88.98
Change in Accounts Payable	172.42	-93.22	50.74	-93.8	100.64
Change in Other Net Operating Assets	-1.21	8.24	18.62	22.35	-
Operating Cash Flow	962.11	877.68	675.35	315.95	578.6
Operating Cash Flow Growth	9.62%	29.96%	113.75%	-45.39%	39.30%
Capital Expenditures	-46.13	-19.26	-33.66	-75.85	-101.44
Sale of Property, Plant & Equipment	0.03	0.02	0.16	1.07	0.05
Investment in Securities	-310	-230	-57.45	560	390
Other Investing Activities	7.02	5.53	5.13	14.3	26.22
Investing Cash Flow	-349.08	-243.71	-85.81	499.52	314.83
Issuance of Common Stock	-	-	-	8.65	46.22
Repurchase of Common Stock	-0.32	-0.93	-2.02	-	-
Common Dividends Paid	-617.51	-616.1	-617.57	-542.6	-540.8
Financing Cash Flow	-617.83	-617.03	-619.59	-533.95	-494.58
Foreign Exchange Rate Adjustments	-13.26	5.75	4.75	80.52	-15.16
Net Cash Flow	-18.06	22.69	-25.3	362.05	383.69
Free Cash Flow	915.98	858.42	641.69	240.1	477.16
Free Cash Flow Growth	6.71%	33.78%	167.25%	-49.68%	47.73%
Free Cash Flow Margin	38.06%	37.15%	26.46%	11.34%	26.32%
Free Cash Flow Per Share	1.04	0.97	0.73	0.27	0.54
Cash Income Tax Paid	116.12	115.33	102.66	107.32	100.33
Levered Free Cash Flow	658.47	628.21	334.66	67.11	348.06
Unlevered Free Cash Flow	658.47	628.21	334.66	67.11	348.06
Change in Working Capital	198.3	207.46	-107	-368.51	52.07

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.