SHE:002910 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	-96.27	-166.21	-81.48	60.94	53.53	10.45
Depreciation & Amortization	102.82	102.82	104.56	105.53	117.6	97.22
Other Amortization	2.12	2.12	0.72	0.58	0.75	2.91
Loss (Gain) From Sale of Assets	-0.65	-0.65	-	0.02	0.57	-0.31
Asset Writedown & Restructuring Costs	68.8	68.8	79.48	-19.66	0.37	28.14
Loss (Gain) From Sale of Investments	-	-	-	0.79	3.34	12.93
Provision & Write-off of Bad Debts	1.94	1.94	0.25	0.18	0.37	0.45
Other Operating Activities	52.08	26.76	18.38	30.38	18.62	28.61
Change in Accounts Receivable	-16.48	-16.48	18.13	-27.12	27.4	-20.98
Change in Inventory	-11.66	-11.66	13.07	-48.02	-62.83	-18.79
Change in Accounts Payable	72.01	72.01	13.13	76.46	47.5	0.29
Operating Cash Flow	158.24	62.98	161.5	179.95	206.99	141.65
Operating Cash Flow Growth	95.29%	-61.00%	-10.26%	-13.06%	46.13%	0.98%
Capital Expenditures	-84.48	-110.83	-132.08	-205.24	-374.86	-409.8
Sale of Property, Plant & Equipment	33.14	45.5	29.88	20.16	27.91	21.62
Other Investing Activities	-	-	-	0	14.11	41.23
Investing Cash Flow	-51.33	-65.34	-102.19	-185.09	-332.85	-346.94
Long-Term Debt Issued	-	899.34	699.21	1,110	468	551
Long-Term Debt Repaid	-	-841.65	-729.83	-887.31	-826.88	-469.5
Net Debt Issued (Repaid)	-9.09	57.69	-30.62	222.69	-358.88	81.5
Issuance of Common Stock	0.9	0.9	-	-	-	368.88
Repurchase of Common Stock	-15.13	-15.13	-7.85	-336.64	-9.3	-
Common Dividends Paid	-30.62	-35.48	-50.4	-45.5	-26.43	-38.04
Other Financing Activities	-3.68	-12.5	2.4	37.6	251.82	176.26
Financing Cash Flow	-57.62	-4.52	-86.47	-121.85	-142.79	588.6
Foreign Exchange Rate Adjustments	0	0	-0	18.09	-0.01	0.02
Net Cash Flow	49.28	-6.88	-27.16	-108.89	-268.66	383.33
Free Cash Flow	73.76	-47.85	29.42	-25.29	-167.87	-268.15
Free Cash Flow Margin	8.48%	-5.38%	3.08%	-2.41%	-16.43%	-36.24%
Free Cash Flow Per Share	0.38	-0.25	0.15	-0.12	-0.72	-1.28
Cash Income Tax Paid	40.65	38.58	42.91	41.79	35.02	29.66
Levered Free Cash Flow	5.91	-138.9	-62.19	-293.93	-581.42	-186.38
Unlevered Free Cash Flow	17.42	-121.77	-50.66	-271.02	-567.46	-166.63
Change in Working Capital	27.39	27.39	39.59	1.2	11.83	-38.74

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