SHE:002857 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	10.77	18.1	5.91	12.94	19.5	23.42
Depreciation & Amortization	11.88	11.88	10.38	4.96	2.71	2.75
Other Amortization	1.1	1.1	0.32	-	-	-
Loss (Gain) From Sale of Assets	-0.07	-0.07	-	-	-	-
Asset Writedown & Restructuring Costs	0.01	0.01	-0.01	0.03	2.14	6.99
Loss (Gain) From Sale of Investments	-4.19	-4.19	-3.17	-2.53	-2.14	-4.67
Provision & Write-off of Bad Debts	0.38	0.38	1.38	2.12	-	-
Other Operating Activities	-43.5	13.4	-4.02	3.29	-	-
Change in Accounts Receivable	-147.23	-147.23	37.81	17.46	27.52	65.21
Change in Inventory	-75.01	-75.01	-14.42	2.08	-10.54	6.42
Change in Accounts Payable	358.7	358.7	17.47	5.41	-15.58	-29.93
Change in Other Net Operating Assets	-72.77	-72.77	-3.84	-	-	-
Operating Cash Flow	38.89	103.11	47.27	45.4	23.37	69.14
Operating Cash Flow Growth	254.76%	118.13%	4.11%	94.32%	-66.20%	35.09%
Capital Expenditures	-1.63	-5.79	-12.22	-11.82	-12.65	-25.69
Sale of Property, Plant & Equipment	-4.67	0.22	0.16	-	0.01	-
Cash Acquisitions	-11.59	-5	-6.81	-	-	-
Investment in Securities	48.96	-215	56	-40	31.5	6.18
Other Investing Activities	3.54	2.97	3.22	2.47	2.23	2.94
Investing Cash Flow	34.61	-222.6	40.35	-49.36	21.09	-16.58
Short-Term Debt Issued	-	6.6	-	-	-	-
Total Debt Issued	-	6.6	-	-	-	-
Short-Term Debt Repaid	-	-3.6	-	-	-	-
Long-Term Debt Repaid	-	-3.95	-1.73	-	-	-
Total Debt Repaid	-10.55	-7.55	-1.73	-	-	-
Net Debt Issued (Repaid)	-10.55	-0.95	-1.73	-	-	-
Issuance of Common Stock	20.21	9.42	-	-	-	-
Repurchase of Common Stock	-17.93	-17.93	-3.07	-	-	-
Common Dividends Paid	-2.44	-4.66	-	-	-	-12.8
Other Financing Activities	18.34	9.02	2.2	1.96	0.75	4.34
Financing Cash Flow	7.64	-5.09	-2.59	1.96	0.75	-8.46
Foreign Exchange Rate Adjustments	-	-	-	-	-	0
Net Cash Flow	81.13	-124.58	85.02	-1.99	45.2	44.11
Free Cash Flow	37.26	97.32	35.05	33.58	10.72	43.45
Free Cash Flow Growth	-	177.69%	4.37%	213.29%	-75.33%	132.35%
Free Cash Flow Margin	4.62%	14.30%	10.75%	17.20%	4.88%	20.52%
Free Cash Flow Per Share	0.28	0.75	0.30	0.26	0.08	0.33
Cash Income Tax Paid	21.99	18.72	24.34	7.42	11.12	11.07
Levered Free Cash Flow	161.19	186.93	34.42	25.86	5.9	29.46
Unlevered Free Cash Flow	161.33	187.44	34.78	25.86	5.9	29.46
Change in Working Capital	62.5	62.5	36.47	24.6	1.15	40.66

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