SHE:002767 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	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	37.53	26.47	7.62	33.41	23.27	20.91
Depreciation & Amortization	24.95	24.95	24.44	19.63	15.36	3.45
Other Amortization	1.54	1.54	0.79	0.44	0.35	0.25
Loss (Gain) From Sale of Assets	0.01	0.01	-0.01	-0.5	-	0.01
Asset Writedown & Restructuring Costs	0.14	0.14	0.03	-0	0.01	5.96
Loss (Gain) From Sale of Investments	8.89	8.89	45.71	-6.04	-8.86	-15.46
Provision & Write-off of Bad Debts	7.15	7.15	1.63	9.65	4.8	-
Other Operating Activities	28.75	1.04	2.19	3.79	1.59	-0.76
Change in Accounts Receivable	-76.9	-76.9	-4.78	-80.55	-58.54	-56.44
Change in Inventory	18.61	18.61	8.8	-32.9	-38.49	-17.88
Change in Accounts Payable	36.54	36.54	19.27	34.99	29.74	76.12
Change in Other Net Operating Assets	-0.01	-0.01	1.75	-	-	-
Operating Cash Flow	85.64	46.88	100.31	-19.46	-35.73	17.34
Operating Cash Flow Growth	19.28%	-53.26%	-	-	-	299.94%
Capital Expenditures	-13.01	-11.69	-14.37	-29.09	-54.41	-64.31
Sale of Property, Plant & Equipment	-1.42	0.21	0.06	0.48	0.01	0.03
Investment in Securities	-112.94	14.19	48.12	128.73	-34.68	-3.04
Other Investing Activities	2.43	1.15	3.53	9.14	13.57	12.96
Investing Cash Flow	-124.94	3.86	37.34	109.27	-75.51	-54.35
Short-Term Debt Issued	-	7.98	3.46	14.45	11.15	8.36
Total Debt Issued	7.98	7.98	3.46	14.45	11.15	8.36
Short-Term Debt Repaid	-	-1.5	-	-	-	-
Long-Term Debt Repaid	-	-3.93	-3.89	-2.25	-1.69	-
Total Debt Repaid	-6.93	-5.43	-3.89	-2.25	-1.69	-
Net Debt Issued (Repaid)	1.05	2.55	-0.43	12.2	9.47	8.36
Common Dividends Paid	-6.61	-2.51	-0.02	-4.05	-4.2	-5.25
Other Financing Activities	0.75	1.62	-4.5	3	-	-2.92
Financing Cash Flow	-4.81	1.67	-4.95	11.15	5.27	0.19
Net Cash Flow	-44.1	52.4	132.7	100.97	-105.98	-36.82
Free Cash Flow	72.63	35.19	85.94	-48.54	-90.14	-46.97
Free Cash Flow Growth	12.49%	-59.05%	-	-	-	-
Free Cash Flow Margin	11.08%	5.67%	13.77%	-8.63%	-18.96%	-13.25%
Free Cash Flow Per Share	0.49	0.24	0.56	-0.32	-0.62	-0.31
Cash Income Tax Paid	30.13	33.98	22.92	28.65	8.81	5.1
Levered Free Cash Flow	59.34	16.68	71.28	-44.28	-92.61	-47.97
Unlevered Free Cash Flow	59.76	16.99	71.55	-44.12	-92.5	-47.85
Change in Working Capital	-23.32	-23.32	17.94	-79.87	-72.25	2.97

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