SHE:003032 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	-101.22	-133.92	15.63	178.84	76.84	65.07
Depreciation & Amortization	32.35	32.35	59.73	70.99	73.83	2.91
Other Amortization	10.93	10.93	11.69	12.59	18.09	19.41
Loss (Gain) From Sale of Assets	-12.74	-12.74	-6.36	-4.07	-7.2	-0.22
Asset Writedown & Restructuring Costs	27.85	27.85	25.1	-0.79	-2.2	1.96
Loss (Gain) From Sale of Investments	-5.51	-5.51	29.28	-23.45	-21.1	-9.29
Stock-Based Compensation	7.59	7.59	-2.03	2.03	0.99	6.36
Provision & Write-off of Bad Debts	-	-	-	2.43	5.04	-
Other Operating Activities	99.58	4.83	5.87	11.64	14.85	-
Change in Accounts Receivable	-13.15	-13.15	-15.9	-1.35	30.18	3.95
Change in Accounts Payable	-13.97	-13.97	-114.34	21.46	5.17	-76.35
Operating Cash Flow	40.24	-87.21	-0.52	275.88	190.8	16.09
Operating Cash Flow Growth	-	-	-	44.59%	1085.58%	-87.99%
Capital Expenditures	-93.64	-209.57	-242.32	-4.68	-6.24	-13.73
Sale of Property, Plant & Equipment	0	0.24	0.41	0.52	0.09	0.24
Investment in Securities	-103.76	193.12	145	-110	-430	-50
Other Investing Activities	16.65	9.12	23.63	31.84	21.66	12.2
Investing Cash Flow	-232.7	-7.1	-73.28	-82.31	-414.49	-51.29
Long-Term Debt Issued	-	2.35	0.66	0.93	2.8	-
Long-Term Debt Repaid	-	-29.17	-56.17	-68.05	-70.33	-
Net Debt Issued (Repaid)	-37.13	-26.81	-55.51	-67.11	-67.54	-
Issuance of Common Stock	40.07	39.53	1.05	27.02	310.73	-
Repurchase of Common Stock	-	-	-	-50	-	-
Common Dividends Paid	-0.42	-6.44	-	-7.7	-6.84	-
Other Financing Activities	-51.21	-27.4	-1.86	0.32	-14.72	-1.35
Financing Cash Flow	-48.69	-21.11	-56.32	-97.48	221.63	-1.35
Foreign Exchange Rate Adjustments	0.98	-0.72	-	-	-	-
Net Cash Flow	-240.17	-116.15	-130.12	96.09	-2.06	-36.54
Free Cash Flow	-53.4	-296.78	-242.84	271.2	184.56	2.37
Free Cash Flow Growth	-	-	-	46.95%	7701.66%	-97.55%
Free Cash Flow Margin	-15.99%	-120.81%	-45.44%	33.78%	27.80%	0.37%
Free Cash Flow Per Share	-0.13	-0.73	-0.62	0.68	0.46	0.01
Cash Income Tax Paid	16.38	13.09	25.68	51.43	26.29	-3.22
Levered Free Cash Flow	-20.38	-222.98	-268.55	247.97	108.65	-48.39
Unlevered Free Cash Flow	-17.15	-219.92	-263.32	255.57	118.3	-48.39
Change in Working Capital	-20.48	-20.48	-139.43	25.67	31.63	-75.39

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