SHE:002999 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	46.96	22.24	100.16	106.06	98.02	79.51
Depreciation & Amortization	63.42	63.42	58.31	46.74	40	27.56
Other Amortization	10.31	10.31	10.46	6.36	5.72	6.3
Loss (Gain) From Sale of Assets	-0.23	-0.23	-0.57	1.99	-0.29	-0.14
Asset Writedown & Restructuring Costs	1.36	1.36	0.5	72.23	67.74	25.22
Loss (Gain) From Sale of Investments	-2.64	-2.64	33.13	12.53	-0.5	-0.36
Provision & Write-off of Bad Debts	6.24	6.24	4.86	-6.04	-	-
Other Operating Activities	804.89	109.11	100.19	89.68	103.87	85.49
Change in Accounts Receivable	269.25	269.25	-198.26	-779.54	91.52	-856.3
Change in Inventory	-634.31	-634.31	-370.76	-214.15	-367.25	-87
Change in Accounts Payable	-348.49	-348.49	106.28	894.79	589.49	1,496
Operating Cash Flow	204.65	-515.85	-177.39	213.17	618.43	774.99
Operating Cash Flow Growth	-	-	-	-65.53%	-20.20%	88.16%
Capital Expenditures	-134.68	-220.43	-138.45	-302.84	-278.65	-408.28
Sale of Property, Plant & Equipment	2.58	3.07	24.72	0.13	0.84	1.97
Cash Acquisitions	-	-0.6	-	-	-	-
Divestitures	0.87	0.87	-	-	-	-
Investment in Securities	-5.26	-	-2	-6.32	-15	19.54
Other Investing Activities	9.94	-8.87	1.24	1.35	0.53	0.51
Investing Cash Flow	-126.56	-225.96	-114.5	-307.68	-292.28	-386.27
Long-Term Debt Issued	-	4,821	3,857	2,489	2,527	2,985
Total Debt Issued	4,094	4,821	3,857	2,489	2,527	2,985
Long-Term Debt Repaid	-	-3,451	-3,751	-2,529	-2,624	-3,058
Total Debt Repaid	-4,065	-3,451	-3,751	-2,529	-2,624	-3,058
Net Debt Issued (Repaid)	29.43	1,369	105.79	-40.17	-96.47	-73.09
Issuance of Common Stock	-	0.94	-	-	0.55	351.95
Common Dividends Paid	-121.16	-113.81	-88.69	-81.79	-83.46	-114.9
Other Financing Activities	236.33	257.1	-33.66	-66.17	16.9	-252.62
Financing Cash Flow	144.59	1,514	-16.56	-188.13	-162.49	-88.67
Foreign Exchange Rate Adjustments	-2.43	-0.06	0.22	0.23	-0.02	-2.59
Net Cash Flow	220.26	771.66	-308.22	-282.42	163.64	297.47
Free Cash Flow	69.97	-736.28	-315.84	-89.67	339.79	366.71
Free Cash Flow Growth	-	-	-	-	-7.34%	6.45%
Free Cash Flow Margin	0.52%	-5.09%	-2.04%	-0.62%	2.61%	3.65%
Free Cash Flow Per Share	0.19	-1.99	-0.91	-0.26	0.97	1.25
Cash Income Tax Paid	93.42	103.85	113.6	136.95	98.86	64.49
Levered Free Cash Flow	-140.44	-927.63	-293.95	-201.25	171.83	334.4
Unlevered Free Cash Flow	-102.15	-897.82	-272.02	-175.63	198.34	368.96
Change in Working Capital	-725.68	-725.68	-484.41	-116.38	303.87	551.41

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