SHE:002972 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	79.3	88.09	62.16	122.35	151.41	137.39
Depreciation & Amortization	16.47	16.47	14.6	12.83	11.52	4.21
Other Amortization	0.84	0.84	0.81	0.77	0.68	0.36
Loss (Gain) From Sale of Assets	-	-	-	-0.06	-0.47	-
Asset Writedown & Restructuring Costs	4.43	4.43	1.25	2.32	18.33	7.38
Loss (Gain) From Sale of Investments	-7.43	-7.43	-8.91	-13.66	-10.87	-3.29
Provision & Write-off of Bad Debts	-	-	-	25.77	-	-
Other Operating Activities	23.62	0.29	2.51	13.43	-1.74	0.04
Change in Accounts Receivable	70.72	70.72	21.03	-155.83	-124.8	-76.82
Change in Inventory	-18.54	-18.54	-48.52	-20.86	29.79	-0.57
Change in Accounts Payable	36.11	36.11	-73.24	60.92	7.22	-14.04
Change in Other Net Operating Assets	-	-	-	-	-	29.1
Operating Cash Flow	194.37	179.83	-33.56	45.36	74.77	81.68
Operating Cash Flow Growth	182.56%	-	-	-39.33%	-8.47%	4.26%
Capital Expenditures	-20.07	-17.45	-15.91	-34.72	-34.77	-13.51
Sale of Property, Plant & Equipment	-	-	0.01	0.13	0.64	0.01
Cash Acquisitions	-	-	-	-	-0.43	-
Investment in Securities	-31.49	23	-	-	-	-
Other Investing Activities	-91.31	-98.36	3.89	-89.68	-9.13	6.6
Investing Cash Flow	-142.88	-92.81	-12.01	-124.27	-43.7	-6.9
Short-Term Debt Issued	-	59.93	-	80	-	-
Total Debt Issued	39.93	59.93	-	80	-	-
Short-Term Debt Repaid	-	-10	-50	-30	-	-
Long-Term Debt Repaid	-	-5.13	-7.59	-4.19	-7.8	-
Total Debt Repaid	-75.13	-15.13	-57.59	-34.19	-7.8	-
Net Debt Issued (Repaid)	-35.2	44.8	-57.59	45.81	-7.8	-
Repurchase of Common Stock	-10	-10	-	-15	-21	-
Common Dividends Paid	-73.98	-110.78	-104.53	-88.49	-35.02	-26.45
Dividends Paid	-73.98	-110.78	-104.53	-88.49	-35.02	-26.45
Other Financing Activities	0.1	-	-	-	-	-4.82
Financing Cash Flow	-119.08	-75.98	-162.12	-57.68	-63.83	-31.27
Foreign Exchange Rate Adjustments	4.26	-2.24	6	1.7	0.29	-0.92
Net Cash Flow	-63.32	8.79	-201.68	-134.89	-32.46	42.59
Free Cash Flow	174.3	162.38	-49.47	10.64	40	68.18
Free Cash Flow Growth	207.81%	-	-	-73.39%	-41.34%	75.31%
Free Cash Flow Margin	53.40%	50.87%	-20.23%	2.90%	9.98%	18.91%
Free Cash Flow Per Share	0.71	0.66	-0.20	0.04	0.16	0.28
Cash Income Tax Paid	54.73	41.58	62.92	21.96	47.46	33.56
Levered Free Cash Flow	103.28	-42.74	-80.22	6.02	-42.65	5.22
Unlevered Free Cash Flow	104.15	-42.68	-80.22	6.98	-42.65	5.22
Change in Working Capital	77.15	77.15	-105.97	-118.39	-94.1	-64.41

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