SHE:002818 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	568.03	690.26	806.27	783.05	918.19
Depreciation & Amortization	229.38	233.48	188.29	195.08	203.24
Other Amortization	1.46	3.37	5.39	2.41	1.26
Loss (Gain) From Sale of Assets	-0	-	-0.02	0.02	-0.01
Asset Writedown & Restructuring Costs	12.98	0.51	0.02	0.1	0.62
Loss (Gain) From Sale of Investments	-72.22	-48.07	-63.06	-73.1	-186.31
Provision & Write-off of Bad Debts	-	3.91	4.18	1.81	2.86
Other Operating Activities	8.03	12.92	20.11	21.87	19.75
Change in Accounts Receivable	643.09	22.39	-294.96	233.85	-169.58
Change in Inventory	0.22	-63.37	-86.77	-104.16	-58.24
Change in Accounts Payable	-131.09	-24.23	64.72	46.43	106.65
Change in Other Net Operating Assets	-1.98	-	-	-	-
Operating Cash Flow	1,246	815.74	629.13	1,102	827.3
Operating Cash Flow Growth	52.79%	29.66%	-42.94%	33.26%	308.93%
Capital Expenditures	-34.65	-53.97	-172.85	-279.34	-292.33
Sale of Property, Plant & Equipment	0.07	0.01	0.37	0.07	0.08
Investment in Securities	-567.86	199.68	-50.55	210.63	-557.36
Other Investing Activities	32.94	36.67	79.16	54.51	224.75
Investing Cash Flow	-569.5	182.39	-143.87	-14.12	-624.86
Short-Term Debt Issued	-	18	10	10	10
Long-Term Debt Issued	10	-	-	-	-
Total Debt Issued	10	18	10	10	10
Short-Term Debt Repaid	-	-14	-10	-10	-13
Long-Term Debt Repaid	-14	-	-	-	-
Total Debt Repaid	-14	-14	-10	-10	-13
Net Debt Issued (Repaid)	-4	4	-	-	-3
Repurchase of Common Stock	-	-	-	-	-26.83
Common Dividends Paid	-778.91	-808.91	-808.71	-898.66	-449.79
Other Financing Activities	-7.72	-0.88	-5.62	0.93	0.23
Financing Cash Flow	-790.63	-805.78	-814.33	-897.73	-479.39
Net Cash Flow	-113.79	192.34	-329.07	190.64	-276.94
Free Cash Flow	1,212	761.77	456.28	823.15	534.97
Free Cash Flow Growth	59.06%	66.95%	-44.57%	53.87%	242.87%
Free Cash Flow Margin	101.04%	53.27%	29.94%	55.52%	34.81%
Free Cash Flow Per Share	1.61	1.01	0.61	1.10	0.71
Cash Income Tax Paid	262.49	308.94	332.5	312.41	303.72
Levered Free Cash Flow	1,035	714.97	325.62	639	364.43
Unlevered Free Cash Flow	1,035	715.33	325.86	639.31	365.68
Change in Working Capital	498.68	-80.65	-332.05	171.25	-132.31

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