SHE:002889 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	153.45	191.5	158.93	154.66	236.58	196.87
Depreciation & Amortization	63.44	63.44	55.13	51.77	39.87	16.74
Other Amortization	0.49	0.49	0.49	0.04	2.43	0.12
Loss (Gain) From Sale of Assets	-0.35	-0.35	-0.46	0.21	0.04	-0.19
Asset Writedown & Restructuring Costs	-0.01	-0.01	-	-0.35	-	-0.18
Loss (Gain) From Sale of Investments	-13.32	-13.32	11.52	2.54	-23.87	-21.47
Provision & Write-off of Bad Debts	11.5	11.5	13.09	0.6	-0.59	2.07
Other Operating Activities	143.44	40.88	76.37	54.24	39.3	41.97
Change in Accounts Receivable	-547.37	-547.37	-86.08	126.7	-424.56	3,730
Change in Inventory	9.24	9.24	-15.6	-20.48	-9.87	52.65
Change in Accounts Payable	99.44	99.44	79.08	33.06	-69.51	-3,976
Operating Cash Flow	-82.94	-147.45	289.9	399.36	-215.57	49.11
Operating Cash Flow Growth	-	-	-27.41%	-	-	-67.67%
Capital Expenditures	-57.23	-240.55	-164.38	-110.88	-109.35	-7.52
Sale of Property, Plant & Equipment	1.2	0.03	0.25	0.26	0.43	0.49
Investment in Securities	4.03	209.84	-186.62	29.95	2,653	-948.27
Other Investing Activities	-4.06	1.25	10.68	6.69	13.01	11.14
Investing Cash Flow	-56.08	-29.43	-340.06	-73.98	2,557	-944.16
Long-Term Debt Issued	-	3,833	3,252	2,790	3,057	9,145
Short-Term Debt Repaid	-	-	-	-	-	-155.45
Long-Term Debt Repaid	-	-3,448	-3,120	-2,811	-6,421	-8,037
Total Debt Repaid	-2,997	-3,448	-3,120	-2,811	-6,421	-8,192
Net Debt Issued (Repaid)	986.51	385.06	132.13	-20.95	-3,364	952.88
Issuance of Common Stock	-	-	-	-	-	7.3
Repurchase of Common Stock	-	-	-	-14.82	-9.36	-
Common Dividends Paid	-46.03	-61.23	-124.73	-72.24	-96.42	-229.14
Other Financing Activities	-752.89	31.36	33.85	-22.14	1,031	167.82
Financing Cash Flow	187.6	355.19	41.26	-130.16	-2,439	898.85
Foreign Exchange Rate Adjustments	2.43	2.32	0.71	0.9	-1.64	-8.89
Net Cash Flow	51.01	180.62	-8.2	196.13	-99.8	-5.08
Free Cash Flow	-140.18	-388.01	125.52	288.49	-324.92	41.6
Free Cash Flow Growth	-	-	-56.49%	-	-	-69.55%
Free Cash Flow Margin	-3.62%	-10.92%	4.66%	10.20%	-11.79%	1.54%
Free Cash Flow Per Share	-0.37	-1.03	0.33	0.77	-0.86	0.11
Cash Income Tax Paid	57.74	52.12	67.72	73.57	45.65	58.85
Levered Free Cash Flow	-156.08	-443.15	-1	-4.4	-366.9	904.2
Unlevered Free Cash Flow	-123.45	-412.45	35.9	20.68	-336.01	1,040
Change in Working Capital	-441.59	-441.59	-25.18	134.32	-508.1	-195

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.