SHE:002995 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-126.91	-144.16	-67.54	-26.1	3.15	54.1
Depreciation & Amortization	16.38	16.38	12.85	12.04	12.06	9.87
Other Amortization	0.11	0.11	0.63	0.67	0.6	2.24
Loss (Gain) From Sale of Assets	-0.06	-0.06	-0.06	-0.05	-0.06	0
Asset Writedown & Restructuring Costs	41.7	41.7	0.02	1.95	0.12	0
Loss (Gain) From Sale of Investments	7.33	7.33	32.76	-24.02	-2.67	-4.84
Provision & Write-off of Bad Debts	-	-	6.86	37.23	1.71	4.31
Other Operating Activities	131.09	48.75	18.1	9.1	1.89	1.78
Change in Accounts Receivable	50.94	50.94	-113.8	178.02	255.87	-78.12
Change in Inventory	2.3	2.3	-15.07	-18.47	-0.08	-
Change in Accounts Payable	-12.24	-12.24	5.2	-100.94	-198.68	-17.16
Change in Other Net Operating Assets	-	-	-	-	-	3.07
Operating Cash Flow	111.25	11.66	-127.92	63.52	73.4	-25.87
Operating Cash Flow Growth	-	-	-	-13.46%	-	-
Capital Expenditures	-13.41	-14.09	-5.38	-1.62	-14.79	-116.53
Sale of Property, Plant & Equipment	0.09	0.09	0.02	0	0	-
Investment in Securities	-1.05	71.25	-56	-77.19	-73.04	337.5
Other Investing Activities	2.7	2.71	10.12	6.09	2.8	3.54
Investing Cash Flow	-11.69	59.96	-51.24	-72.73	-85.02	224.51
Long-Term Debt Repaid	-	-	-3.56	-3.5	-3.04	-1.81
Total Debt Repaid	-	-	-3.56	-3.5	-3.04	-1.81
Net Debt Issued (Repaid)	-	-	-3.56	-3.5	-3.04	-1.81
Issuance of Common Stock	-	-	-	-	-	13.71
Repurchase of Common Stock	-	-	-	-	-13.71	-
Common Dividends Paid	-	-	-	-12.68	-19.92	-32.34
Other Financing Activities	-5.13	-4.85	-0.27	-2.92	0.49	0.4
Financing Cash Flow	-5.13	-4.85	-3.83	-19.09	-36.18	-20.04
Net Cash Flow	94.43	66.76	-182.99	-28.3	-47.8	178.6
Free Cash Flow	97.84	-2.43	-133.31	61.89	58.61	-142.4
Free Cash Flow Growth	-	-	-	5.60%	-	-
Free Cash Flow Margin	9.51%	-0.21%	-9.97%	3.36%	1.93%	-3.51%
Free Cash Flow Per Share	0.55	-0.01	-0.75	0.35	0.33	-0.80
Cash Income Tax Paid	13.72	15.18	6.73	4.45	11.73	21.36
Levered Free Cash Flow	166.26	61.95	-114.52	71.64	41.35	-156
Unlevered Free Cash Flow	166.26	61.95	-114.35	71.76	41.43	-155.93
Change in Working Capital	41.61	41.61	-131.53	52.7	56.6	-93.34

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