SHE:003015 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	88.06	67.47	-16.58	39.89	82.36	99.09
Depreciation & Amortization	87.45	87.45	92.25	67.66	60.57	57.64
Other Amortization	0.24	0.24	0.1	0.01	-	0.09
Loss (Gain) From Sale of Assets	-0.04	-0.04	-	0	-	0.01
Asset Writedown & Restructuring Costs	-0.06	-0.06	4.51	0.09	0.02	0.01
Loss (Gain) From Sale of Investments	-	-	-0.61	-0	-	-0.4
Provision & Write-off of Bad Debts	-0.17	-0.17	16.96	-1.01	-1.11	-0.98
Other Operating Activities	36.76	7.91	19.87	17.51	10.93	13.05
Change in Accounts Receivable	0.82	0.82	21.47	75.75	37.1	-42.49
Change in Inventory	-10.92	-10.92	-1.16	-22.09	-35.54	-25.4
Change in Accounts Payable	-18.75	-18.75	-0.42	22.14	6.65	12.26
Operating Cash Flow	185.88	136.45	134.84	200	161.31	112.25
Operating Cash Flow Growth	23.70%	1.20%	-32.58%	23.99%	43.71%	38.97%
Capital Expenditures	-108.46	-5.04	-42.25	-191.7	-242.38	-51.68
Sale of Property, Plant & Equipment	0.07	0.11	0	0.04	-	0.02
Investment in Securities	-20	-	0.06	0	280	-280
Other Investing Activities	0.06	-	0.55	-	8.56	1.59
Investing Cash Flow	-128.32	-4.93	-41.63	-191.66	46.19	-330.08
Long-Term Debt Issued	-	55.9	127.99	97.56	124.61	205.8
Long-Term Debt Repaid	-	-122.83	-134.53	-110.78	-189.46	-276.83
Net Debt Issued (Repaid)	-32.06	-66.93	-6.55	-13.22	-64.85	-71.03
Issuance of Common Stock	-	-	-	-	-	428.15
Repurchase of Common Stock	-50.05	-50.05	-	-52.45	-48.94	-
Common Dividends Paid	-55.95	-29.01	-58.29	-59.35	-49.37	-12.1
Dividends Paid	-55.95	-29.01	-58.29	-59.35	-49.37	-12.1
Other Financing Activities	120.87	10.07	-9.92	-	-3.77	-13.48
Financing Cash Flow	-17.19	-135.93	-74.76	-125.01	-166.94	331.54
Foreign Exchange Rate Adjustments	-1	-0.17	0.09	0.15	-0.05	-0.16
Net Cash Flow	39.37	-4.58	18.54	-116.52	40.51	113.55
Free Cash Flow	77.43	131.41	92.59	8.3	-81.07	60.56
Free Cash Flow Growth	-45.31%	41.92%	1015.54%	-	-	-
Free Cash Flow Margin	12.09%	22.54%	19.37%	1.77%	-16.60%	11.71%
Free Cash Flow Per Share	0.28	0.49	0.34	0.03	-0.28	0.28
Cash Income Tax Paid	40.26	34.98	23.13	-11.51	43.73	50.23
Levered Free Cash Flow	4.77	104.35	68.15	5.97	-158.64	23.6
Unlevered Free Cash Flow	5.24	105.82	70.67	9.01	-154.2	31.02
Change in Working Capital	-26.35	-26.35	18.35	75.84	8.53	-56.27

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