SHE:002715 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	-15.73	5.13	23.78	-132.02	6.89
Depreciation & Amortization	30.62	32.45	35.01	50.12	44.85
Other Amortization	0.93	2.12	1.9	0.33	0.1
Loss (Gain) From Sale of Assets	-0.19	0.07	-0.25	-	-0.17
Asset Writedown & Restructuring Costs	8.22	-	-	86.04	6.86
Loss (Gain) From Sale of Investments	9.63	-	0.56	-0.06	-0.22
Provision & Write-off of Bad Debts	-	0.34	0.42	4.94	-0.4
Other Operating Activities	15.66	23.58	28.78	48.25	9.74
Change in Accounts Receivable	6.33	-9.16	-11.28	-13.78	-16.15
Change in Inventory	14.9	7.81	27.38	-53.12	-21.67
Change in Accounts Payable	-9.55	-1.4	-38.79	16.42	11.04
Operating Cash Flow	63.65	60.22	65.48	5.95	40.89
Operating Cash Flow Growth	5.71%	-8.04%	1000.02%	-85.44%	-32.64%
Capital Expenditures	-59.76	-50.67	-54.69	-115.72	-54.97
Sale of Property, Plant & Equipment	1.45	0.17	0.04	-	0.15
Cash Acquisitions	-	-9.1	-	-	-
Investment in Securities	-	-	-	3.2	0.17
Other Investing Activities	-0.38	-	-	0.15	3.89
Investing Cash Flow	-58.69	-59.6	-54.65	-112.36	-50.76
Long-Term Debt Issued	253.05	145.02	168.27	295.38	149.81
Total Debt Issued	253.05	145.02	168.27	295.38	149.81
Long-Term Debt Repaid	-218.81	-164.18	-151.93	-221.12	-114.42
Total Debt Repaid	-218.81	-164.18	-151.93	-221.12	-114.42
Net Debt Issued (Repaid)	34.24	-19.16	16.34	74.26	35.39
Common Dividends Paid	-15.13	-9.71	-12.03	-9.93	-21.53
Other Financing Activities	-1.32	2	3.16	5.24	3.43
Financing Cash Flow	17.8	-26.88	7.47	69.56	17.28
Foreign Exchange Rate Adjustments	0.05	1.67	0.87	1.34	0.06
Net Cash Flow	22.8	-24.59	19.17	-35.51	7.47
Free Cash Flow	3.89	9.55	10.79	-109.76	-14.08
Free Cash Flow Growth	-59.26%	-11.53%	-	-	-
Free Cash Flow Margin	0.74%	1.87%	1.98%	-21.64%	-2.90%
Free Cash Flow Per Share	0.03	0.07	0.08	-0.80	-0.10
Cash Income Tax Paid	11.39	20.34	21.38	-3.49	11.14
Levered Free Cash Flow	3.95	-14.56	3.04	-104.54	1.92
Unlevered Free Cash Flow	3.95	-4.13	14.37	-91.67	11.39
Change in Working Capital	14.51	-3.48	-24.72	-51.66	-26.75

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