SHE:002939 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,367	2,352	1,580	1,438	899.06	1,766
Depreciation & Amortization, Total	153.57	153.57	199.11	181.6	196.23	197.34
Gain (Loss) On Sale of Investments	-1,262	-1,262	-917.01	-773.73	-780.36	-816.02
Change in Accounts Receivable	-5,964	-5,964	-1,558	3,226	-508.66	-272.58
Change in Accounts Payable	6,465	6,465	8,820	1,340	2,047	6,416
Change in Other Net Operating Assets	-	-	-	-	-10,198	-9,405
Other Operating Activities	785.64	903.14	1,009	1,003	908.57	1,046
Operating Cash Flow	7,441	7,543	13,270	-4,721	-6,771	-1,229
Capital Expenditures	-113.74	-111.18	-88.8	-107.51	-84.83	-83.79
Investment in Securities	-2,378	-3,720	-3,534	-2,866	689.59	527.76
Other Investing Activities	808.07	797.72	725.64	610.86	532.48	347.92
Investing Cash Flow	-1,683	-3,034	-2,897	-2,362	1,138	792.26
Short-Term Debt Issued	-	-	-	-	617.17	1,140
Long-Term Debt Issued	-	26,815	22,729	28,791	16,427	27,952
Total Debt Issued	28,985	26,815	22,729	28,791	17,044	29,091
Short-Term Debt Repaid	-	-	-	-	-	-21,690
Long-Term Debt Repaid	-	-23,161	-24,264	-20,677	-19,393	-
Total Debt Repaid	-22,280	-23,161	-24,264	-20,677	-19,393	-21,690
Net Debt Issued (Repaid)	6,705	3,654	-1,536	8,115	-2,349	7,402
Issuance of Common Stock	-	-	-	-	7,556	-
Common Dividends Paid	-1,497	-1,578	-1,666	-1,266	-1,422	-1,152
Other Financing Activities	1.01	-2.24	-0.7	-22.05	-162.05	-150.38
Financing Cash Flow	5,209	2,074	-3,203	6,827	3,623	6,100
Foreign Exchange Rate Adjustments	-5.16	-2.55	1.05	4.68	5.23	-1.45
Net Cash Flow	10,962	6,581	7,171	-251.34	-2,006	5,661
Free Cash Flow	7,328	7,432	13,181	-4,828	-6,856	-1,313
Free Cash Flow Growth	-43.23%	-43.61%	-	-	-	-
Free Cash Flow Margin	141.11%	143.09%	326.75%	-121.78%	-221.13%	-16.95%
Free Cash Flow Per Share	1.80	1.84	3.25	-1.21	-1.98	-0.42
Cash Interest Paid	1,801	1,671	1,586	1,405	1,345	1,269
Cash Income Tax Paid	751.98	707.58	246.83	409.42	370.96	608.9

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