SHE:002835 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	170.78	200.47	150.59	109.52	90.32	70.65
Depreciation & Amortization	32.64	32.64	37.09	33.37	31.23	20.77
Other Amortization	6.92	6.92	8.24	8.14	5	1.96
Loss (Gain) From Sale of Assets	0.02	0.02	0.07	0.01	-1.25	0.05
Asset Writedown & Restructuring Costs	0.39	0.39	0.05	0.02	0.01	5.88
Loss (Gain) From Sale of Investments	-5.2	-5.2	0.98	4.04	-10.2	-0.25
Provision & Write-off of Bad Debts	-0.08	-0.08	0.91	1.08	3.21	1.82
Other Operating Activities	-56.74	11.78	9.63	-1.4	15.66	30.36
Change in Accounts Receivable	19.14	19.14	11.06	-21.65	-120.02	-50.97
Change in Inventory	-19.43	-19.43	22.06	25.85	-47.64	-72.05
Change in Accounts Payable	11.32	11.32	26.36	15.98	13.89	64.35
Operating Cash Flow	158.57	256.77	266.76	176.02	-20.43	71.83
Operating Cash Flow Growth	-34.95%	-3.74%	51.55%	-	-	-29.27%
Capital Expenditures	-81.41	-60.2	-26.37	-34.81	-35.48	-56.35
Sale of Property, Plant & Equipment	1.04	0.15	0.02	0	2.68	0.14
Investment in Securities	-70	-70	-240	-	-	-
Other Investing Activities	167.48	6.77	-2.54	-4.04	10.2	0.25
Investing Cash Flow	17.11	-123.28	-268.9	-38.85	-22.6	-55.96
Short-Term Debt Issued	-	22	30	80	100	95
Total Debt Issued	43.94	22	30	80	100	95
Short-Term Debt Repaid	-	-41	-80	-100	-95	-48
Long-Term Debt Repaid	-	-8.18	-9.68	-6.29	-5.87	-
Total Debt Repaid	-30.18	-49.18	-89.68	-106.29	-100.87	-48
Net Debt Issued (Repaid)	13.77	-27.18	-59.68	-26.29	-0.87	47
Repurchase of Common Stock	-10.1	-10.1	-	-	-	-
Common Dividends Paid	-70.09	-46.33	-34.7	-29.47	-25.35	-12.85
Other Financing Activities	9.2	-	-	-	-0.47	-4.89
Financing Cash Flow	-57.23	-83.6	-94.38	-55.76	-26.69	29.26
Foreign Exchange Rate Adjustments	1.54	0.94	0.99	14.13	-6.31	-26.76
Net Cash Flow	119.99	50.82	-95.52	95.53	-76.04	18.38
Free Cash Flow	77.16	196.57	240.39	141.21	-55.91	15.48
Free Cash Flow Growth	-62.79%	-18.23%	70.24%	-	-	-69.10%
Free Cash Flow Margin	7.01%	16.92%	22.15%	14.55%	-5.57%	1.96%
Free Cash Flow Per Share	0.36	0.90	1.10	0.65	-0.25	0.07
Cash Income Tax Paid	-	-65.89	-54.1	-64.22	-60.48	-47.03
Levered Free Cash Flow	21.17	114.53	169.96	73.38	-106.38	-36.68
Unlevered Free Cash Flow	21.49	115.16	171.61	75.51	-104.38	-34.52
Change in Working Capital	9.83	9.83	59.2	21.23	-154.41	-59.41

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