SHE:200468 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022	Jan '21 Jan 1, 2021
Net Income	17.02	11.38	-16.88	-47.39	-138.77	21.96
Depreciation & Amortization	8.56	8.56	9.37	10.5	10.26	10.2
Other Amortization	1.62	1.62	1.87	1.46	1.75	1.8
Loss (Gain) From Sale of Assets	-1.08	-1.08	0.13	-0.51	0.13	-72.56
Loss (Gain) From Sale of Investments	-52.3	-52.3	-1.28	0.48	-0	-93.18
Provision & Write-off of Bad Debts	7.63	7.63	9.01	10.85	-	36.76
Other Operating Activities	24.19	35.88	28.87	27.86	64.18	63.04
Change in Accounts Receivable	-23.48	-23.48	-4.65	24.16	139.37	205.6
Change in Inventory	37.6	37.6	42.81	15.64	-44.2	-4.13
Change in Accounts Payable	-43.01	-43.01	-75.28	-73.77	-138.31	-79.05
Change in Other Net Operating Assets	-	-	-	-	43.86	-2.31
Operating Cash Flow	-23.25	-17.2	-6.02	-30.73	-61.72	88.15
Operating Cash Flow Growth	-	-	-	-	-	288.54%
Capital Expenditures	-4.08	-3	-4.23	-2.63	-10	-15.96
Sale of Property, Plant & Equipment	0.02	0	0.24	0.73	0.49	90.39
Divestitures	-0.41	-0.41	-	-	-	42.98
Investment in Securities	-	-	-	20.34	-20	227.49
Other Investing Activities	111.77	108.16	-	-	-	-
Investing Cash Flow	107.3	104.75	-3.99	18.44	-29.51	344.9
Short-Term Debt Issued	-	-	-	-	-	185
Long-Term Debt Issued	-	154.8	170.54	198.6	239.5	4
Total Debt Issued	111.51	154.8	170.54	198.6	239.5	189
Short-Term Debt Repaid	-	-	-	-	-	-571.4
Long-Term Debt Repaid	-	-88.72	-143.8	-179	-116.06	-10.43
Total Debt Repaid	-152.17	-88.72	-143.8	-179	-116.06	-581.83
Net Debt Issued (Repaid)	-40.66	66.08	26.74	19.6	123.44	-392.83
Repurchase of Common Stock	-3	-3	-	-	-	-
Common Dividends Paid	-1.93	-11.65	-9.48	-11.01	-	-29.09
Other Financing Activities	-15.85	-14.85	-7.46	-12.37	-21.85	-49.76
Financing Cash Flow	-61.44	36.59	9.8	-3.78	101.59	-471.67
Foreign Exchange Rate Adjustments	-	0	-	-0.01	0.03	-0.1
Net Cash Flow	22.62	124.15	-0.21	-16.07	10.4	-38.72
Free Cash Flow	-27.33	-20.2	-10.24	-33.36	-71.72	72.18
Free Cash Flow Growth	-	-	-	-	-	786.63%
Free Cash Flow Margin	-3.61%	-2.49%	-1.25%	-3.79%	-7.82%	7.04%
Free Cash Flow Per Share	-0.12	-0.09	-0.05	-0.15	-0.34	0.33
Cash Interest Paid	-	-	-	-	8.2	-
Cash Income Tax Paid	29.49	28.25	37.29	28.23	33.68	40.02
Levered Free Cash Flow	6.19	23.5	-8.62	-24.63	-58.66	92.36
Unlevered Free Cash Flow	12.29	30.2	-2.51	-17.91	-53.53	110.22
Change in Working Capital	-28.89	-28.89	-37.12	-33.97	0.72	120.11

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