SHE:002977 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	-16.74	16.04	50.05	72.74	111.35	82.37
Depreciation & Amortization	7.93	7.93	7.65	2.96	2.26	2.6
Other Amortization	0	0	-	0.11	0.54	0.54
Asset Writedown & Restructuring Costs	0.01	0.01	0	42.01	1.21	13.18
Loss (Gain) From Sale of Investments	1.76	1.76	0.6	-1.06	-2.72	-7.48
Provision & Write-off of Bad Debts	22.16	22.16	18.06	-	-	-
Other Operating Activities	43.56	6.67	-24.01	-	-	-
Change in Accounts Receivable	117.43	117.43	149.42	-250.82	-15.95	-37.44
Change in Inventory	8.08	8.08	-27.22	87.83	-102.08	-32.61
Change in Accounts Payable	-115.1	-115.1	66.65	27.58	11.15	9.01
Operating Cash Flow	64.75	60.64	242.08	-24.84	4.44	27.89
Operating Cash Flow Growth	65.90%	-74.95%	-	-	-84.09%	-
Capital Expenditures	-11.88	-13.86	-23.88	-	-89.36	-45.06
Sale of Property, Plant & Equipment	-	-	-	0.01	-	-
Investment in Securities	-	-	-	-52.98	40	-40
Other Investing Activities	-	-	0.89	1.37	3.05	7.74
Investing Cash Flow	-11.88	-13.86	-22.99	-51.61	-46.32	-77.32
Short-Term Debt Repaid	-	-	-	-	-	-14.52
Total Debt Repaid	-	-	-	-	-	-14.52
Net Debt Issued (Repaid)	-	-	-	-	-	-14.52
Issuance of Common Stock	-	-	-	-	-	495.48
Common Dividends Paid	-21.62	-21.62	-20.02	-21.45	-21.45	-14.3
Other Financing Activities	-0.03	-0.03	-0.04	-	-	-12.54
Financing Cash Flow	-21.65	-21.65	-20.06	-21.45	-21.45	454.12
Net Cash Flow	31.22	25.13	199.02	-97.9	-63.33	404.69
Free Cash Flow	52.87	46.78	218.2	-24.84	-84.93	-17.17
Free Cash Flow Growth	105.53%	-78.56%	-	-	-	-
Free Cash Flow Margin	65.84%	34.26%	130.47%	-7.25%	-30.50%	-7.85%
Free Cash Flow Per Share	0.43	0.38	1.83	-0.21	-0.70	-0.15
Cash Income Tax Paid	9.94	19.48	17.21	41.15	31.3	26.99
Levered Free Cash Flow	26.1	8.6	158.39	15.36	-139.14	-25.47
Unlevered Free Cash Flow	26.1	8.6	158.39	15.36	-139.14	-25.47
Change in Working Capital	6.07	6.07	189.73	-141.59	-108.2	-63.32

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