SHE:003009 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	-27	19.57	96.01	144.23	122.35	103.44
Depreciation & Amortization	52.61	52.61	43.48	32.57	28.74	27.25
Other Amortization	1.75	1.75	1.01	0.98	0.99	1.1
Loss (Gain) From Sale of Assets	-	-	-0.01	-	1.94	0.66
Asset Writedown & Restructuring Costs	0.48	0.48	0.1	0.06	12.34	2.18
Loss (Gain) From Sale of Investments	-	-	-	-	-2.97	-
Provision & Write-off of Bad Debts	0.47	0.47	-2.96	16.98	-	-
Other Operating Activities	8.27	9.35	8.74	7.7	1.11	9.26
Change in Accounts Receivable	1.88	1.88	-37.09	-779.91	-102.53	-45.76
Change in Inventory	-120.33	-120.33	1.04	-58.34	-33.36	-8.6
Change in Accounts Payable	102.17	102.17	-56.28	742.81	89.47	-26.71
Change in Other Net Operating Assets	1.03	1.03	0.59	1.36	1.39	1.38
Operating Cash Flow	12.99	60.63	56.26	107.26	118.63	64.85
Operating Cash Flow Growth	-88.29%	7.77%	-47.55%	-9.58%	82.94%	-43.75%
Capital Expenditures	-215.01	-242.04	-119.97	-60.92	-124.14	-34.51
Sale of Property, Plant & Equipment	0.01	0.02	0.02	0	0.01	0.02
Other Investing Activities	-	-	-	-	1.91	-
Investing Cash Flow	-215	-242.02	-119.95	-60.92	-122.22	-34.5
Long-Term Debt Issued	-	138.85	205	240	-	254
Long-Term Debt Repaid	-	-203.35	-207.41	-42.41	-72.41	-427
Net Debt Issued (Repaid)	-13.6	-64.5	-2.41	197.59	-72.41	-173
Issuance of Common Stock	-	-	-	1.2	1.8	465.98
Common Dividends Paid	-11.13	-19.17	-21.24	-15.13	-11.03	-21.74
Other Financing Activities	1.86	1.9	-0.2	480.58	-6.87	-10.9
Financing Cash Flow	-22.86	-81.76	-23.85	664.24	-88.51	260.35
Foreign Exchange Rate Adjustments	0.75	0.77	0.12	1.18	-0.27	-0.61
Net Cash Flow	-224.13	-262.38	-87.42	711.76	-92.37	290.09
Free Cash Flow	-202.03	-181.41	-63.71	46.35	-5.51	30.33
Free Cash Flow Growth	-	-	-	-	-	-66.94%
Free Cash Flow Margin	-27.84%	-19.62%	-5.40%	3.75%	-0.54%	3.51%
Free Cash Flow Per Share	-1.30	-1.17	-0.40	0.29	-0.04	0.24
Cash Income Tax Paid	30.1	41.85	39.44	49.09	59.67	51.14
Levered Free Cash Flow	-247.5	-177.54	-82.22	60.33	-39.16	-5.18
Unlevered Free Cash Flow	-240.16	-171.86	-77.48	63.04	-38.98	0.6
Change in Working Capital	-23.58	-23.58	-90.11	-95.27	-45.87	-79.05

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