SHE:002820 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	-23.85	-24.53	27.07	61.03	-69.72	21.29
Depreciation & Amortization	42.3	42.3	36.69	36.13	36.39	36.46
Other Amortization	10.87	10.87	12.98	11.68	12.09	13.66
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.05	-0.02	-0.03	0.01
Asset Writedown & Restructuring Costs	0.13	0.13	0.06	0.27	0.06	3.83
Loss (Gain) From Sale of Investments	-2.93	-2.93	-4.09	-9.32	-9.51	-7.42
Provision & Write-off of Bad Debts	-0.19	-0.19	0.91	0.57	1.19	-
Other Operating Activities	-10.2	1.44	1.55	1.81	2.19	2.71
Change in Accounts Receivable	7.21	7.21	-4.29	3.21	0.85	-0.02
Change in Inventory	2.52	2.52	-11.26	-4.66	8.66	0.28
Change in Accounts Payable	16.84	16.84	4.17	9.45	-2.01	-6.51
Change in Other Net Operating Assets	-1.18	-1.18	-1.18	-1.18	-1.43	-1.46
Operating Cash Flow	41.18	52.15	62.47	109.21	-21.75	63.1
Operating Cash Flow Growth	-31.16%	-16.53%	-42.80%	-	-	138.90%
Capital Expenditures	-20.56	-26.77	-182.83	-16.52	-5.51	-14.88
Sale of Property, Plant & Equipment	0	0.01	0.05	0.01	-	0.02
Investment in Securities	-200	160	-160	-	400.04	-400
Other Investing Activities	2.33	3.11	4.34	9.87	14.65	3.63
Investing Cash Flow	-218.23	136.35	-338.44	-6.64	409.18	-411.24
Long-Term Debt Repaid	-	-22.48	-25.57	-28.93	-23.42	-28.29
Total Debt Repaid	-22.48	-22.48	-25.57	-28.93	-23.42	-28.29
Net Debt Issued (Repaid)	-22.48	-22.48	-25.57	-28.93	-23.42	-28.29
Repurchase of Common Stock	-	-	-50	-	-	-
Common Dividends Paid	-29.3	-29.3	-39.07	-30.13	-30.13	-30.13
Other Financing Activities	-1.17	-	-	-	0.01	-
Financing Cash Flow	-52.96	-51.78	-114.64	-59.06	-53.54	-58.42
Net Cash Flow	-230	136.72	-390.61	43.5	333.89	-406.55
Free Cash Flow	20.63	25.37	-120.36	92.69	-27.26	48.22
Free Cash Flow Growth	-	-	-	-	-	348.52%
Free Cash Flow Margin	4.37%	5.38%	-24.29%	18.39%	-11.54%	11.90%
Free Cash Flow Per Share	0.12	0.13	-0.62	0.46	-0.14	0.25
Cash Income Tax Paid	32.49	31.13	47.18	55.17	12.61	37.32
Levered Free Cash Flow	25.87	28	-136.47	71.77	-2.38	49.87
Unlevered Free Cash Flow	26.77	28.9	-135.5	72.9	-1.01	51.56
Change in Working Capital	25.07	25.07	-12.65	7.07	5.58	-7.43

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