SHE:002809 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	2.48	48.76	85.51	89.95	112.75	141.75
Depreciation & Amortization	28.42	28.42	32.96	37.26	37.1	23.6
Other Amortization	0.5	0.5	0.12	0.05	0.08	-
Loss (Gain) From Sale of Assets	-0.14	-0.14	-0.62	-0.31	0.05	-0.06
Asset Writedown & Restructuring Costs	0.01	0.01	0.31	0.46	27.31	8.93
Loss (Gain) From Sale of Investments	-9.34	-9.34	-1.84	-7.42	-4.22	-
Provision & Write-off of Bad Debts	12.47	12.47	-2.33	-2.95	-	-
Other Operating Activities	-81.97	2.14	1.67	3.93	12.88	-0.69
Change in Accounts Receivable	38.14	38.14	209.11	376.29	-255.13	-400.42
Change in Inventory	-0.26	-0.26	10.33	12.37	-7.14	-15.95
Change in Accounts Payable	56.22	56.22	-175.52	-371.34	217.02	204.16
Change in Other Net Operating Assets	-	-	-	-14.94	-23.15	-19.32
Operating Cash Flow	45.48	175.87	158.3	127.48	110.04	-60
Operating Cash Flow Growth	-75.44%	11.10%	24.18%	15.85%	-	-
Capital Expenditures	-69.87	-157.77	-337.96	-127.43	-118.51	-79.14
Sale of Property, Plant & Equipment	3.62	0.72	3.26	3.56	0.54	0.21
Cash Acquisitions	-	-	-	-	-	0.41
Divestitures	-	0.81	-	-	-	-
Investment in Securities	6,226	6,226	1,472	0.97	4.75	2.4
Other Investing Activities	-6,268	-6,594	-1,470	25.16	51.19	81.43
Investing Cash Flow	-107.64	-523.65	-332.65	-97.75	-62.02	5.31
Long-Term Debt Issued	-	95.52	563.32	102.98	357.67	126.44
Total Debt Issued	450.1	95.52	563.32	102.98	357.67	126.44
Long-Term Debt Repaid	-	-32.69	-88.67	-288.65	-65.95	-230.3
Total Debt Repaid	-367.79	-32.69	-88.67	-288.65	-65.95	-230.3
Net Debt Issued (Repaid)	82.31	62.83	474.65	-185.67	291.72	-103.86
Issuance of Common Stock	-	-	12.35	19.77	2.42	25.64
Common Dividends Paid	-80.93	-45.72	-21.9	-27.67	-8.23	-33.36
Other Financing Activities	0.8	-	0.5	-0.5	30.1	-16.57
Financing Cash Flow	2.18	17.11	465.6	-194.07	316	-128.15
Net Cash Flow	-59.97	-330.66	291.25	-164.33	364.02	-182.84
Free Cash Flow	-24.39	18.1	-179.65	0.06	-8.47	-139.13
Free Cash Flow Margin	-3.31%	2.68%	-23.61%	0.01%	-0.55%	-10.41%
Free Cash Flow Per Share	-0.11	0.07	-0.84	-	-0.04	-0.69
Cash Income Tax Paid	34.55	2.73	54.67	49.63	84.52	81.56
Levered Free Cash Flow	4.62	28.46	-168.42	8.4	37.01	-114.25
Unlevered Free Cash Flow	12.97	28.83	-167.5	12.71	45.06	-110.82
Change in Working Capital	93.05	93.05	42.52	6.5	-75.91	-233.52

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.