SHE:002802 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	42.6	41.2	59.24	50.88	84.56	85.93
Depreciation & Amortization	20.14	20.14	19.69	21.56	24.9	27.52
Other Amortization	0.04	0.04	0.09	0.18	0.08	0.15
Loss (Gain) From Sale of Assets	0.06	0.06	-0.15	-2.81	-0.17	-0.15
Asset Writedown & Restructuring Costs	0.81	0.81	0.09	-6.2	-3.93	0.19
Loss (Gain) From Sale of Investments	-4.82	-4.82	-7.07	-1.83	-1.99	-4.52
Provision & Write-off of Bad Debts	-0.25	-0.25	0.41	0.6	-2.51	0.03
Other Operating Activities	-2.64	-1.13	-1.14	-0.75	-0.77	0.29
Change in Accounts Receivable	41.11	41.11	-58.3	5.97	154.26	-82.34
Change in Inventory	-2.91	-2.91	6.67	11.39	-5.02	1.46
Change in Accounts Payable	-7.82	-7.82	7.7	6.48	-64.56	33.12
Change in Other Net Operating Assets	-0.45	-0.45	0.14	4.7	6.16	1.03
Operating Cash Flow	85.76	85.88	27.2	91.39	191.56	62.9
Operating Cash Flow Growth	470.52%	215.78%	-70.24%	-52.29%	204.55%	-36.55%
Capital Expenditures	-7.27	-8.48	-11.14	-14.51	-19.7	-4.08
Sale of Property, Plant & Equipment	18	0.06	0.3	7.31	0.64	0.19
Divestitures	-	-	-	-	-	0.05
Investment in Securities	18.57	-56.43	125	-15.16	-153.66	10.5
Other Investing Activities	5.24	5.56	7.72	8.32	5.31	4.41
Investing Cash Flow	34.54	-59.29	121.88	-14.04	-167.4	11.07
Long-Term Debt Repaid	-	-0.34	-0.4	-0.4	-0.29	-0.31
Total Debt Repaid	-0.34	-0.34	-0.4	-0.4	-0.29	-0.31
Net Debt Issued (Repaid)	-0.34	-0.34	-0.4	-0.4	-0.29	-0.31
Issuance of Common Stock	-	-	-	-	17.24	-
Repurchase of Common Stock	-13.5	-13.5	-32.92	-	-	-0.1
Common Dividends Paid	-17.85	-17.85	-66.17	-84.7	-43.34	-53
Other Financing Activities	0.22	-	-	-	-0.1	0.19
Financing Cash Flow	-31.46	-31.69	-99.49	-85.1	-26.48	-53.23
Foreign Exchange Rate Adjustments	0.43	0.98	1.24	0.71	1.29	-0.4
Net Cash Flow	89.27	-4.12	50.84	-7.04	-1.04	20.35
Free Cash Flow	78.49	77.4	16.05	76.88	171.87	58.82
Free Cash Flow Growth	1395.10%	382.12%	-79.12%	-55.27%	192.17%	-26.38%
Free Cash Flow Margin	19.96%	19.68%	3.52%	20.62%	33.27%	7.85%
Free Cash Flow Per Share	0.44	0.43	0.09	0.42	0.95	0.33
Cash Income Tax Paid	10.13	10.93	14.36	12.97	16.23	17.51
Levered Free Cash Flow	71.61	67.06	4.59	60.51	143.64	30.64
Unlevered Free Cash Flow	71.62	67.06	4.59	60.51	143.65	30.64
Change in Working Capital	29.83	29.83	-43.97	29.76	91.41	-46.55

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