SHE:002887 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	134.98	121.42	99.9	113.61	153.77	166.04
Depreciation & Amortization	11.54	11.54	14.48	13.13	11.83	10.8
Other Amortization	0.06	0.06	0.01	0.25	0.27	0.36
Loss (Gain) From Sale of Assets	0.1	0.1	-0	-0.01	-	-0.02
Asset Writedown & Restructuring Costs	4.4	4.4	3.95	-	7.67	-
Loss (Gain) From Sale of Investments	4.23	4.23	-9.6	-0.87	-117.86	-92.34
Provision & Write-off of Bad Debts	91.48	91.48	56.7	43.29	84.66	55.62
Other Operating Activities	66.3	28.61	58.57	57.02	79.35	40.31
Change in Accounts Receivable	-141.48	-141.48	63.08	37.33	-426.5	-406.84
Change in Inventory	-40.09	-40.09	17.04	-15.2	134.15	136.29
Change in Accounts Payable	52.64	52.64	-99.9	-148.26	91.34	-84.18
Operating Cash Flow	171.48	120.23	199.67	105.66	8.54	-177.24
Operating Cash Flow Growth	7.39%	-39.79%	88.98%	1136.59%	-	-
Capital Expenditures	-3.07	-5.09	-9.28	-7.42	-24.64	-6.31
Sale of Property, Plant & Equipment	-	0.02	0.02	0.02	-	0.03
Investment in Securities	12.29	88.47	-62.89	-721.69	233.61	-290.01
Other Investing Activities	16.25	9.6	8.81	0.58	1.06	0.73
Investing Cash Flow	25.47	93	-63.35	-728.51	210.03	-295.56
Long-Term Debt Issued	-	66.14	147.62	53.45	323.17	1,071
Total Debt Issued	36	66.14	147.62	53.45	323.17	1,071
Long-Term Debt Repaid	-	-194.3	-497.43	-355.19	-152.25	-59.82
Total Debt Repaid	-206.5	-194.3	-497.43	-355.19	-152.25	-59.82
Net Debt Issued (Repaid)	-170.5	-128.16	-349.81	-301.74	170.92	1,012
Repurchase of Common Stock	-	-	-	-	-	-80
Common Dividends Paid	-102.87	-104.02	-109.17	-147.21	-53.03	-192.42
Other Financing Activities	-2.45	-2.93	-0.6	-1.13	35.36	38.89
Financing Cash Flow	-275.83	-235.11	-459.59	-450.08	153.26	778.1
Net Cash Flow	-78.88	-21.88	-323.26	-1,073	371.83	305.3
Free Cash Flow	168.41	115.14	190.39	98.24	-16.1	-183.55
Free Cash Flow Growth	12.89%	-39.52%	93.79%	-	-	-
Free Cash Flow Margin	35.36%	24.28%	47.43%	24.54%	-2.74%	-31.37%
Free Cash Flow Per Share	0.55	0.38	0.61	0.31	-0.05	-0.60
Cash Income Tax Paid	75.83	75.83	25.44	41.86	4.23	68.14
Levered Free Cash Flow	47.12	-47.13	255.26	-375.88	-153.78	-42.07
Unlevered Free Cash Flow	74.09	-20.52	300.57	-331.83	-101.02	-3.53
Change in Working Capital	-141.61	-141.61	-24.34	-120.76	-211.15	-358.01

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