SHE:002998 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	37.37	83.77	137.04	77.61	100.82	135.18
Depreciation & Amortization	117.85	117.85	110.32	107.71	80.81	72.83
Other Amortization	0.1	0.1	0.04	0.03	0.08	0.21
Loss (Gain) From Sale of Assets	-0.08	-0.08	-	-	-0.12	-0.04
Asset Writedown & Restructuring Costs	12.86	12.86	12.72	-	-	3.07
Loss (Gain) From Sale of Investments	-1.47	-1.47	-0.29	-0.05	0.57	-
Provision & Write-off of Bad Debts	-	-	-	3.77	0.37	0.86
Other Operating Activities	319.45	12	20.38	11.57	2.7	13.33
Change in Accounts Receivable	-221.79	-221.79	-133.82	-146.2	-122.57	-113.29
Change in Inventory	-213.91	-213.91	60.37	-65.85	-134.83	28.74
Change in Accounts Payable	78.91	78.91	4.02	22.6	77.78	-47.3
Change in Other Net Operating Assets	18.39	18.39	-1.55	1.99	-2.38	1.67
Operating Cash Flow	146.36	-114.67	205.29	11.8	4.06	92.55
Operating Cash Flow Growth	-	-	1639.16%	190.81%	-95.61%	-51.54%
Capital Expenditures	-85.75	-55.67	-105.99	-59.57	-165.9	-68.38
Sale of Property, Plant & Equipment	0.05	0.39	0.36	-	0.17	0.11
Cash Acquisitions	-	-	-	-	-41.5	-
Investment in Securities	-5.03	242.81	-250	-	188.9	-188.9
Other Investing Activities	0.95	5.32	1.06	0.05	-0.57	-
Investing Cash Flow	-89.79	192.85	-354.58	-59.52	-18.91	-257.17
Short-Term Debt Issued	-	-	-	252.5	250	-
Total Debt Issued	-	-	-	252.5	250	-
Short-Term Debt Repaid	-	-	-	-210.5	-170	-236
Long-Term Debt Repaid	-	-	-192	-	-	-
Total Debt Repaid	-	-	-192	-210.5	-170	-236
Net Debt Issued (Repaid)	-	-	-192	42	80	-236
Issuance of Common Stock	8.92	-	-	591.7	-	446.36
Repurchase of Common Stock	-	-	-20.29	-	-	-
Common Dividends Paid	-221.41	-19.8	-51.69	-6.93	-32.64	-10.65
Other Financing Activities	-	-	17.2	-20.08	-3.1	-14.84
Financing Cash Flow	-212.49	-19.8	-246.78	606.68	44.26	184.86
Foreign Exchange Rate Adjustments	2.97	3.78	-0.42	1.39	-0.46	-0.34
Net Cash Flow	-152.94	62.16	-396.49	560.36	28.96	19.91
Free Cash Flow	60.61	-170.34	99.3	-47.76	-161.85	24.17
Free Cash Flow Growth	-	-	-	-	-	-85.14%
Free Cash Flow Margin	2.28%	-7.27%	4.07%	-2.12%	-9.99%	1.77%
Free Cash Flow Per Share	0.17	-0.51	0.28	-0.15	-0.50	0.09
Cash Interest Paid	-	-	-	-	3.1	-
Cash Income Tax Paid	-	9.25	13.22	21.12	53.18	56.69
Levered Free Cash Flow	111.8	-55.73	152.14	-17.52	-77.66	59.17
Unlevered Free Cash Flow	116.72	-46.57	161.91	-12.22	-75.67	66.5
Change in Working Capital	-339.71	-339.71	-74.92	-188.85	-181.17	-132.88

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