SHE:003025 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	144.89	181.78	97.59	139.32	123.46	93.63
Depreciation & Amortization	37.07	37.07	35.61	20.58	14.27	14.15
Other Amortization	0.61	0.61	-	-	-	-
Loss (Gain) From Sale of Assets	-64.85	-64.85	0.02	-0.79	-0.01	-8.39
Asset Writedown & Restructuring Costs	-0.03	-0.03	0.99	-	0.52	1.74
Loss (Gain) From Sale of Investments	-1.9	-1.9	-2.68	-10.36	-5.23	-0.07
Provision & Write-off of Bad Debts	2.37	2.37	-1.3	2.58	-	-
Other Operating Activities	37.37	0.53	-0.31	-8.02	0.97	1.37
Change in Accounts Receivable	5.79	5.79	4.39	-51.97	19.38	-27.59
Change in Inventory	31.08	31.08	-12.1	-86.95	-103.21	4.53
Change in Accounts Payable	39.58	39.58	-8.59	18.01	78.97	43.11
Operating Cash Flow	230.02	230.07	112.56	25.63	131.37	122.69
Operating Cash Flow Growth	-1.23%	104.39%	339.21%	-80.49%	7.07%	189.16%
Capital Expenditures	-72.84	-129.98	-213.81	-107	-109.06	-67.04
Sale of Property, Plant & Equipment	0.51	37.05	19.71	1.36	0.04	4.62
Investment in Securities	-35	10	45	191	-326	-
Other Investing Activities	1.76	2.01	2.68	10.36	5.23	0.07
Investing Cash Flow	-105.58	-80.91	-146.43	95.73	-429.79	-62.35
Long-Term Debt Repaid	-	-0.17	-0.17	-	-	-
Total Debt Repaid	-0.17	-0.17	-0.17	-	-	-
Net Debt Issued (Repaid)	-0.17	-0.17	-0.17	-	-	-
Issuance of Common Stock	-	-	-	-	-	428.93
Common Dividends Paid	-52.06	-47.33	-58.75	-50.65	-43.41	-30.15
Other Financing Activities	0.04	-	-0.57	-	-4.57	-44.49
Financing Cash Flow	-52.18	-47.49	-59.49	-50.65	-47.98	354.3
Foreign Exchange Rate Adjustments	0.99	1.98	2.02	10.07	-0.97	-1.33
Net Cash Flow	73.25	103.65	-91.33	80.78	-347.38	413.31
Free Cash Flow	157.17	100.09	-101.25	-81.37	22.31	55.65
Free Cash Flow Growth	118.15%	-	-	-	-59.91%	-
Free Cash Flow Margin	23.05%	16.04%	-20.84%	-16.01%	4.67%	14.34%
Free Cash Flow Per Share	0.56	0.35	-0.35	-0.29	0.08	0.26
Cash Income Tax Paid	53.12	59.77	17.36	21.09	33.58	33.4
Levered Free Cash Flow	128.55	88.43	-175.23	-110.38	-2.35	34.19
Unlevered Free Cash Flow	128.55	88.43	-175.22	-110.38	-2.35	34.19
Change in Working Capital	74.49	74.49	-17.36	-117.68	-2.6	20.25

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