SHE:002848 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	-60.1	-80.71	-130.9	-82.11	-5.54	-125.16
Depreciation & Amortization	21.06	21.06	19.19	21.68	24.44	30.68
Other Amortization	0.01	0.01	0.14	0.13	0.29	0.81
Loss (Gain) From Sale of Assets	0.01	0.01	0.02	0.05	-0.05	-
Asset Writedown & Restructuring Costs	13.78	13.78	1.59	-0.16	1.11	13.37
Loss (Gain) From Sale of Investments	-	-	-	-0.04	-64.96	-
Provision & Write-off of Bad Debts	-	-	17.94	25.76	18.16	-
Other Operating Activities	18.03	27.93	13.36	13.27	-11.43	17.84
Change in Accounts Receivable	-242.4	-242.4	69.19	-22.95	40.61	87.23
Change in Inventory	-18.78	-18.78	6.83	89.59	17.77	-34.79
Change in Accounts Payable	230.82	230.82	-57.16	-36.34	-57.16	-41.55
Operating Cash Flow	-37.59	-48.29	-26.29	8.89	-35.94	-46.99
Capital Expenditures	-12.25	-7.75	-3.64	-4.62	-3.16	-17.96
Sale of Property, Plant & Equipment	0.18	0	0.02	1.92	1.03	0.02
Divestitures	-	-	0	40.3	45.97	-
Other Investing Activities	-	-	-	-	0.39	0.39
Investing Cash Flow	-12.07	-7.75	-3.62	37.6	44.23	-17.56
Short-Term Debt Issued	-	-	6.98	3.37	3.31	6.5
Long-Term Debt Issued	-	47.1	57.53	18.4	57.33	137.35
Total Debt Issued	58.9	47.1	64.5	21.76	60.64	143.85
Short-Term Debt Repaid	-	-	-7.97	-6.08	-	-14.5
Long-Term Debt Repaid	-	-37.72	-11.73	-33.45	-85.73	-96.32
Total Debt Repaid	-22.8	-37.72	-19.7	-39.52	-85.73	-110.82
Net Debt Issued (Repaid)	36.1	9.38	44.8	-17.76	-25.09	33.03
Common Dividends Paid	-2.54	-2.37	-1.97	-3.29	-2.99	-3.66
Other Financing Activities	26.36	38.55	-3.49	-12.4	5.82	-0.67
Financing Cash Flow	59.92	45.57	39.34	-33.45	-22.26	28.7
Foreign Exchange Rate Adjustments	-0.29	-0.07	0.04	-1.43	1.01	0.02
Net Cash Flow	9.97	-10.54	9.46	11.6	-12.96	-35.82
Free Cash Flow	-49.84	-56.04	-29.93	4.27	-39.1	-64.95
Free Cash Flow Margin	-10.55%	-15.38%	-22.22%	1.45%	-10.31%	-11.26%
Free Cash Flow Per Share	-0.30	-0.34	-0.18	0.03	-0.21	-0.39
Cash Interest Paid	-	-	-	-	0.26	-
Cash Income Tax Paid	-	-5.2	-0.27	-1.55	-9.18	-12.21
Levered Free Cash Flow	5.3	58.86	8.28	71.18	-68.24	-68.89
Unlevered Free Cash Flow	5.3	58.86	12.85	79.54	-61.19	-62.19
Change in Working Capital	-30.37	-30.37	52.38	30.31	2.04	15.47

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