SHE:003008 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	87.42	85.56	58.79	69.01	64.25	74.26
Depreciation & Amortization	52.7	52.7	55.92	38.21	32.15	31.27
Other Amortization	0.78	0.78	0.19	0.13	-	-
Loss (Gain) From Sale of Assets	-	-	-	-0	-	-
Asset Writedown & Restructuring Costs	0.37	0.37	0.11	0.03	0.3	0.34
Loss (Gain) From Sale of Investments	-15.46	-15.46	-12.73	-12.84	-10.79	-1.72
Provision & Write-off of Bad Debts	0.09	0.09	0.79	0.16	-	-
Other Operating Activities	3.73	0.03	0.03	0.05	0.02	-
Change in Accounts Receivable	-1.45	-1.45	-13.31	0.9	7.32	-9.44
Change in Inventory	0.44	0.44	-0.31	-0.98	-0.77	-0.19
Change in Accounts Payable	-13.86	-13.86	17.57	12.82	-4.5	8.33
Operating Cash Flow	114.86	109.29	107.16	107.81	88.7	102.18
Operating Cash Flow Growth	6.66%	1.98%	-0.60%	21.55%	-13.20%	-19.49%
Capital Expenditures	-26.83	-39.27	-47.74	-97.68	-86.48	-49.86
Sale of Property, Plant & Equipment	0.02	0.03	0.02	0.02	0.17	-
Investment in Securities	-25	-15	-133.48	67.88	-54.57	-440
Other Investing Activities	15.95	16.97	12.74	-	-	0.91
Investing Cash Flow	-35.86	-37.28	-168.46	-29.78	-140.87	-488.95
Long-Term Debt Repaid	-	-0.19	-0.19	-0.18	-0.1	-
Net Debt Issued (Repaid)	-0.19	-0.19	-0.19	-0.18	-0.1	-
Issuance of Common Stock	-	-	-	-	-	585.38
Common Dividends Paid	-98.8	-60.4	-40	-40	-48	-
Other Financing Activities	-0	-	-	-	-	-24.06
Financing Cash Flow	-99	-60.59	-40.19	-40.18	-48.1	561.31
Net Cash Flow	-20	11.41	-101.49	37.84	-100.27	174.55
Free Cash Flow	88.03	70.01	59.42	10.13	2.22	52.32
Free Cash Flow Growth	38.03%	17.83%	486.73%	356.21%	-95.76%	400.15%
Free Cash Flow Margin	39.72%	31.63%	31.14%	6.49%	1.54%	31.62%
Free Cash Flow Per Share	0.85	0.67	0.58	0.10	0.02	0.62
Cash Income Tax Paid	33.18	43.76	27.33	4.79	15.52	20.29
Levered Free Cash Flow	64.15	58.99	32.02	12.01	-11.01	32.78
Unlevered Free Cash Flow	64.16	59.01	32.04	12.04	-10.99	32.78
Change in Working Capital	-14.78	-14.78	4.05	13.07	2.76	-1.96

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