SHE:003043 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2020
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '20 Dec 31, 2020
Net Income	106.94	80.74	88.12	150.24	71.82
Depreciation & Amortization	54.79	27.33	19.16	15.94	11.18
Other Amortization	1.55	1.36	0.41	0.26	1.6
Loss (Gain) From Sale of Assets	0.07	0.71	-0.19	-0.01	0.06
Asset Writedown & Restructuring Costs	-20.1	1.1	-	-	7.58
Loss (Gain) From Sale of Investments	-1.01	-5.26	-5.92	0.63	-0.7
Provision & Write-off of Bad Debts	-	3.96	0.19	0.92	-
Other Operating Activities	38.57	8.11	8.55	-16.62	8.4
Change in Accounts Receivable	-85.94	-27.64	65.8	24.99	1.93
Change in Inventory	47.36	7.93	2.11	-6.32	-8.41
Change in Accounts Payable	36.23	46.37	-74.42	-7.34	9.96
Operating Cash Flow	169.54	136.81	99.69	174.33	102.79
Operating Cash Flow Growth	23.93%	37.24%	-42.82%	69.59%	51.47%
Capital Expenditures	-108.82	-135.87	-204.95	-132.82	-7.55
Sale of Property, Plant & Equipment	0.18	0.22	0.92	0.29	0.12
Cash Acquisitions	-	-78.96	-	-	-
Investment in Securities	210	-514.3	55.01	-12	18.7
Other Investing Activities	-209.55	6.78	13.51	8.63	-
Investing Cash Flow	-108.2	-722.12	-135.51	-135.9	11.28
Long-Term Debt Issued	-	70	-	337.5	-
Total Debt Issued	-	70	-	337.5	-
Short-Term Debt Repaid	-	-	-	-	-10
Long-Term Debt Repaid	-	-77.64	-8.06	-2.38	-
Total Debt Repaid	-	-77.64	-8.06	-2.38	-10
Net Debt Issued (Repaid)	-	-7.64	-8.06	335.12	-10
Issuance of Common Stock	-	293.06	-	-	-
Common Dividends Paid	-31.61	-22.11	-33.36	-24	-18.18
Other Financing Activities	-10.25	-5.89	-0	-	-0.6
Financing Cash Flow	-41.86	257.42	-41.42	311.12	-28.78
Foreign Exchange Rate Adjustments	-3.07	8.18	2.82	21.28	-5.37
Net Cash Flow	16.41	-319.72	-74.42	370.82	79.92
Free Cash Flow	60.72	0.94	-105.26	41.5	95.25
Free Cash Flow Growth	6364.67%	-	-	-56.43%	50.54%
Free Cash Flow Margin	6.06%	0.15%	-22.83%	6.70%	25.86%
Free Cash Flow Per Share	0.45	0.01	-0.91	0.37	1.14
Cash Income Tax Paid	6.77	24.82	16.34	19.32	16.46
Levered Free Cash Flow	-32.77	-47.6	-182.25	-	77.08
Unlevered Free Cash Flow	-32.77	-43	-179.13	-	77.18
Change in Working Capital	-11.26	18.76	-10.63	22.96	2.86

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