SHE:002743 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-950.35	-887.84	51.37	96.05	97.49	166.12
Depreciation & Amortization	102.4	102.4	107.12	106.37	85.26	87
Other Amortization	0.49	0.49	2.37	1.44	0.81	-
Loss (Gain) From Sale of Assets	0.06	0.06	0.36	-0.05	-0.06	-0.41
Asset Writedown & Restructuring Costs	412.64	412.64	3.06	-0.09	-0.14	0.09
Loss (Gain) From Sale of Investments	0.11	0.11	0.27	0.23	-	-
Provision & Write-off of Bad Debts	-	-	27.17	14.45	63.49	86.78
Other Operating Activities	291.37	408.36	165.29	170.5	151.36	131.17
Change in Accounts Receivable	582.67	582.67	-108.9	553.12	-837.15	-277.83
Change in Inventory	64.92	64.92	155.56	6.2	-90.95	-1,406
Change in Accounts Payable	-718.07	-718.07	-332.78	-931.33	-135.35	594.59
Change in Other Net Operating Assets	-1.3	-1.3	-0.22	2.76	0.94	-0.69
Operating Cash Flow	-381.22	-201.71	63.31	20.09	-676.75	-631.61
Operating Cash Flow Growth	-	-	215.08%	-	-	-
Capital Expenditures	-18.51	-22.87	-32.72	-38.59	-20.79	-104.99
Sale of Property, Plant & Equipment	1.95	2.38	1.01	0.45	5.67	1.53
Investment in Securities	-	-	-	-15	-	-
Investing Cash Flow	-16.56	-20.49	-31.71	-53.14	-15.12	-103.46
Long-Term Debt Issued	-	4,639	5,089	3,480	2,748	2,088
Long-Term Debt Repaid	-	-4,414	-5,068	-3,325	-1,900	-1,790
Net Debt Issued (Repaid)	576.75	224.67	20.84	155.27	847.57	297.44
Common Dividends Paid	-186.2	-190.14	-168.71	-165.64	-150.45	-127.93
Other Financing Activities	-5.21	-32.29	-1.5	-1.5	-	-13.31
Financing Cash Flow	385.35	2.23	-149.37	-11.87	697.12	156.2
Foreign Exchange Rate Adjustments	-0.01	-0.01	0.01	0	0	-
Net Cash Flow	-12.44	-219.98	-117.77	-44.92	5.25	-578.87
Free Cash Flow	-399.72	-224.58	30.58	-18.5	-697.54	-736.6
Free Cash Flow Margin	-36.10%	-11.72%	0.78%	-0.40%	-14.66%	-12.84%
Free Cash Flow Per Share	-0.91	-0.52	0.07	-0.04	-1.65	-1.69
Cash Interest Paid	-	-	-	-	-	25.31
Cash Income Tax Paid	53.1	59.49	90.59	69.16	101.83	82.77
Levered Free Cash Flow	-229.24	533.72	-232.61	-69.37	-1,236	-739.87
Unlevered Free Cash Flow	-229.24	533.72	-119.39	32.2	-1,144	-658.49
Change in Working Capital	-237.92	-237.92	-293.7	-368.67	-1,075	-1,102

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