SHE:002951 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	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	6.98	-4.4	-44.57	-36.59	55.74	189.18
Depreciation & Amortization	27.04	27.04	21.73	31.55	43.08	44.98
Other Amortization	3.45	3.45	0.51	0.34	0.13	1.13
Loss (Gain) From Sale of Assets	-7.47	-7.47	-30.48	-1.48	-1.56	-0
Asset Writedown & Restructuring Costs	18.58	18.58	14.86	36.33	29.25	0.19
Loss (Gain) From Sale of Investments	-97.42	-97.42	13.98	0.56	-5.02	-5.73
Provision & Write-off of Bad Debts	16.28	16.28	-1.08	-0.16	-3.81	-1.96
Other Operating Activities	-336	-21.11	-3.93	-0.82	3.29	4.35
Change in Accounts Receivable	-337	-337	22.3	18.23	87.46	8.86
Change in Inventory	-73.08	-73.08	18.81	23.71	24.02	9.21
Change in Accounts Payable	261.87	261.87	-55.38	-66.14	-107.12	78.05
Change in Other Net Operating Assets	-0.57	-0.57	21.86	23.87	21.08	-63.02
Operating Cash Flow	-524.62	-221.11	-24.73	28.31	142.52	265.43
Operating Cash Flow Growth	-	-	-	-80.14%	-46.30%	-15.19%
Capital Expenditures	-24.68	-57.41	-74.61	-72.04	-77.09	-258.62
Sale of Property, Plant & Equipment	0.03	14.6	65.02	4.4	1.89	0.01
Cash Acquisitions	-	-6.79	-	-	-	-
Divestitures	165.21	225.21	-	-	-	-
Investment in Securities	590.33	112.47	288.31	-56.14	-29.7	-176.11
Other Investing Activities	-79.1	-87.3	2.09	5.07	5.49	8.95
Investing Cash Flow	651.79	200.78	280.82	-118.71	-99.41	-425.77
Total Debt Issued	31.43	-	-	-	-	-
Short-Term Debt Repaid	-	-12.01	-	-	-	-
Total Debt Repaid	-0.54	-12.01	-	-	-	-
Net Debt Issued (Repaid)	30.89	-12.01	-	-	-	-
Repurchase of Common Stock	-18.52	-18.52	-17.65	-	-	-
Common Dividends Paid	-400.22	-200.21	-	-20.25	-60.75	-101.25
Other Financing Activities	17.78	-13.31	4.8	43.79	-50	27
Financing Cash Flow	-370.07	-244.04	-12.85	23.54	-110.75	-74.25
Net Cash Flow	-242.9	-264.37	243.23	-66.86	-67.63	-234.6
Free Cash Flow	-549.3	-278.52	-99.34	-43.73	65.43	6.81
Free Cash Flow Growth	-	-	-	-	861.28%	-97.21%
Free Cash Flow Margin	-92.14%	-74.11%	-292.97%	-23.69%	16.91%	1.06%
Free Cash Flow Per Share	-1.33	-0.63	-0.24	-0.11	0.16	0.02
Cash Income Tax Paid	39.14	12.88	23.18	9.92	40.12	82.63
Levered Free Cash Flow	-535.33	-214.17	10.63	-55.76	-9.92	3.67
Unlevered Free Cash Flow	-535.13	-214.06	10.65	-55.76	-9.92	3.67
Change in Working Capital	-156.06	-156.06	4.26	-1.43	21.44	33.28

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