SHE:002884 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	Dec '21 Dec 31, 2021
Net Income	448.52	454.91	442.41	383.7	421.94	483.31
Depreciation & Amortization	32.63	32.63	31.76	31.82	26.54	22.75
Other Amortization	0.06	0.06	-	-	-	-
Asset Writedown & Restructuring Costs	1.25	1.25	4	4.62	-4.07	9
Loss (Gain) From Sale of Investments	-16.73	-16.73	-10.27	-6.89	-13.03	-11.1
Other Operating Activities	-72.91	-18.36	-24.59	-12.38	-14.52	7.78
Change in Accounts Receivable	-7.77	-7.77	9.6	-40.02	139.37	-143.04
Change in Inventory	-9.63	-9.63	-38.46	41.79	149.13	-146.46
Change in Accounts Payable	20.35	20.35	31.49	15.82	-81.98	48.16
Change in Other Net Operating Assets	-	-	-2.83	1.51	-0.26	-
Operating Cash Flow	398.09	459.03	443.4	417.48	629.37	274.07
Operating Cash Flow Growth	-11.72%	3.53%	6.21%	-33.67%	129.64%	-1.14%
Capital Expenditures	-23.94	-23.03	-24.03	-30.21	-63.96	-130.38
Sale of Property, Plant & Equipment	0.19	0.24	0.07	-	0.16	0
Investment in Securities	-62.9	-50.9	-1,217	71.5	636.3	-54.94
Other Investing Activities	42.28	33.37	8.61	19.55	22.77	11.44
Investing Cash Flow	-44.37	-40.31	-1,232	60.85	595.27	-173.88
Issuance of Common Stock	-	-	-	-	4	10.4
Common Dividends Paid	-357.68	-357.68	-357.68	-357.68	-357.68	-330.2
Financing Cash Flow	-357.68	-357.68	-357.68	-357.68	-353.68	-319.8
Foreign Exchange Rate Adjustments	-0.13	-0.07	0.05	0.04	0.31	-0.08
Net Cash Flow	-4.09	60.97	-1,146	120.69	871.26	-219.69
Free Cash Flow	374.15	436.01	419.37	387.27	565.4	143.69
Free Cash Flow Growth	-13.41%	3.97%	8.29%	-31.50%	293.48%	-29.06%
Free Cash Flow Margin	20.93%	25.32%	26.34%	29.44%	38.11%	6.97%
Free Cash Flow Per Share	1.04	1.22	1.18	1.08	1.58	0.40
Cash Income Tax Paid	56.78	55.51	53.56	55.1	38.99	7.37
Levered Free Cash Flow	262.58	311.29	299.71	261.11	427.4	-33.74
Unlevered Free Cash Flow	262.58	311.29	299.71	261.11	427.4	-33.74
Change in Working Capital	5.27	5.27	0.09	16.61	212.51	-237.67

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