SHE:002693 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	Jan '22 Jan 1, 2022
Net Income	8.92	-78.3	-50.74	9.01	-20.33
Depreciation & Amortization	53	52.34	52.67	57.54	54.33
Other Amortization	2.11	3.12	1.37	0.98	1.16
Loss (Gain) From Sale of Assets	-0.01	0.02	-0.47	-29.91	-13.79
Asset Writedown & Restructuring Costs	5.4	19.01	0.12	2.12	0.05
Loss (Gain) From Sale of Investments	-0.56	9.4	37.1	-4.63	-4.12
Provision & Write-off of Bad Debts	-	0.18	1.15	-0.09	-0.05
Other Operating Activities	9.94	-18.42	-8.29	-5.27	-8.61
Change in Accounts Receivable	-51.02	-3.48	4.99	-13.83	5.39
Change in Inventory	11.94	-19.76	-12.45	-9.89	-4.77
Change in Accounts Payable	22.01	-5.02	-9.66	19.57	13.83
Change in Other Net Operating Assets	-	-	-3.17	-	-
Operating Cash Flow	60.95	-40.83	11.64	25.22	23.55
Operating Cash Flow Growth	-	-	-53.84%	7.07%	-
Capital Expenditures	-43.27	-24.91	-49.2	-32.98	-31.64
Sale of Property, Plant & Equipment	1.06	0.78	9.83	26.98	21.67
Investment in Securities	-0.28	28.48	61.03	-83.76	38.85
Other Investing Activities	0.56	0.69	2.75	4.69	4.12
Investing Cash Flow	-41.93	5.04	24.42	-85.07	32.99
Short-Term Debt Issued	-	22.45	22.94	7.61	-
Long-Term Debt Issued	29	80	-	50	-
Total Debt Issued	29	102.45	22.94	57.61	-
Short-Term Debt Repaid	-	-1.83	-1.15	-	-
Long-Term Debt Repaid	-28	-12.5	-60	-12	-55.34
Total Debt Repaid	-28	-14.33	-61.15	-12	-55.34
Net Debt Issued (Repaid)	1	88.12	-38.2	45.61	-55.34
Issuance of Common Stock	-	0.42	7.42	10.45	13.37
Common Dividends Paid	-7.27	-7.19	-8.69	-11.13	-9.1
Other Financing Activities	1.15	-4.01	-	-	10.45
Financing Cash Flow	-5.12	77.34	-39.47	44.93	-40.62
Foreign Exchange Rate Adjustments	0.04	0.17	-0	0.1	-0.11
Net Cash Flow	13.94	41.72	-3.41	-14.82	15.82
Free Cash Flow	17.68	-65.73	-37.56	-7.77	-8.09
Free Cash Flow Margin	6.39%	-37.73%	-15.92%	-2.83%	-2.52%
Free Cash Flow Per Share	0.05	-0.16	-0.09	-0.02	-0.02
Cash Income Tax Paid	14.15	14.84	31.92	18.04	31.61
Levered Free Cash Flow	88.95	-31.22	-31.8	-23.48	27.13
Unlevered Free Cash Flow	88.95	-25.45	-25.81	-16.49	32.78
Change in Working Capital	-17.84	-28.16	-21.27	-4.53	14.9

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