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 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	68.57	52.06	83.77	137.04	77.61	100.82
Depreciation & Amortization	145.97	145.97	117.85	110.32	107.71	80.81
Other Amortization	0	0	0.1	0.04	0.03	0.08
Loss (Gain) From Sale of Assets	-	-	-0.08	-	-	-0.12
Asset Writedown & Restructuring Costs	5.48	5.48	12.86	12.72	-	-
Loss (Gain) From Sale of Investments	-0.26	-0.26	-1.47	-0.29	-0.05	0.57
Provision & Write-off of Bad Debts	-	-	-	-	3.77	0.37
Other Operating Activities	148.47	41.63	12	20.38	11.57	2.7
Change in Accounts Receivable	-141.56	-141.56	-221.79	-133.82	-146.2	-122.57
Change in Inventory	164.93	164.93	-213.91	60.37	-65.85	-134.83
Change in Accounts Payable	-21.14	-21.14	78.91	4.02	22.6	77.78
Change in Other Net Operating Assets	16.89	16.89	18.39	-1.55	1.99	-2.38
Operating Cash Flow	380.2	256.84	-114.67	205.29	11.8	4.06
Operating Cash Flow Growth	-	-	-	1639.16%	190.81%	-95.61%
Capital Expenditures	-50.33	-46.4	-55.67	-105.99	-59.57	-165.9
Sale of Property, Plant & Equipment	-	-	0.39	0.36	-	0.17
Cash Acquisitions	-	-	-	-	-	-41.5
Investment in Securities	2.22	-270.13	242.81	-250	-	188.9
Other Investing Activities	1.56	0.26	5.32	1.06	0.05	-0.57
Investing Cash Flow	-46.55	-316.27	192.85	-354.58	-59.52	-18.91
Short-Term Debt Issued	-	-	-	-	252.5	250
Total Debt Issued	-	-	-	-	252.5	250
Short-Term Debt Repaid	-	-	-	-	-210.5	-170
Long-Term Debt Repaid	-	-	-	-192	-	-
Total Debt Repaid	-	-	-	-192	-210.5	-170
Net Debt Issued (Repaid)	-	-	-	-192	42	80
Issuance of Common Stock	5.79	8.92	-	-	591.7	-
Repurchase of Common Stock	-	-	-	-20.29	-	-
Common Dividends Paid	-174.41	-222.98	-19.8	-51.69	-6.93	-32.64
Other Financing Activities	-	-	-	17.2	-20.08	-3.1
Financing Cash Flow	-168.62	-214.06	-19.8	-246.78	606.68	44.26
Foreign Exchange Rate Adjustments	-9.69	-1.94	3.78	-0.42	1.39	-0.46
Net Cash Flow	155.33	-275.43	62.16	-396.49	560.36	28.96
Free Cash Flow	329.87	210.44	-170.34	99.3	-47.76	-161.85
Free Cash Flow Margin	12.11%	7.74%	-7.27%	4.07%	-2.12%	-9.99%
Free Cash Flow Per Share	0.98	0.65	-0.51	0.28	-0.15	-0.50
Cash Interest Paid	-	-	-	-	-	3.1
Cash Income Tax Paid	-	-59.64	9.25	13.22	21.12	53.18
Levered Free Cash Flow	346.85	217.64	-55.73	152.14	-17.52	-77.66
Unlevered Free Cash Flow	346.85	217.64	-46.57	161.91	-12.22	-75.67
Change in Working Capital	11.96	11.96	-339.71	-74.92	-188.85	-181.17

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.