SHE:300033 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	2,379	1,823	1,402	1,691	1,911	1,724
Depreciation & Amortization	76.74	76.74	73.08	53.65	50.15	41
Other Amortization	-	-	0.16	0.51	0.89	0.15
Loss (Gain) From Sale of Assets	-	-	-	-	-0.02	0.01
Asset Writedown & Restructuring Costs	0.75	0.75	0.61	0.23	0.4	0.37
Loss (Gain) From Sale of Investments	-20.97	-20.97	-0.78	-0.29	-0.01	-16.5
Provision & Write-off of Bad Debts	-1.09	-1.09	1.28	0.36	-	0.78
Other Operating Activities	985.19	-0.6	-6.52	-8.09	-0.69	4.61
Change in Accounts Receivable	-180.95	-180.95	-453.75	285.89	84.93	-403.85
Change in Accounts Payable	618.08	618.08	575.36	-273.78	81.5	715.02
Operating Cash Flow	3,857	2,316	1,592	1,750	2,128	2,066
Operating Cash Flow Growth	157.55%	45.45%	-9.01%	-17.77%	2.99%	69.47%
Capital Expenditures	-126.14	-103.68	-201.13	-281.68	-236.35	-370.08
Sale of Property, Plant & Equipment	-	-	-	-	0.04	0.01
Investment in Securities	31.71	-18.29	-283.08	-8.74	-	538.42
Other Investing Activities	-26.79	2.52	-	-	-	-67.55
Investing Cash Flow	-121.21	-119.45	-484.21	-290.42	-236.3	100.79
Long-Term Debt Repaid	-	-0.98	-0.98	-0.97	-0.97	-
Net Debt Issued (Repaid)	-0.98	-0.98	-0.98	-0.97	-0.97	-
Common Dividends Paid	-1,667	-1,310	-1,217	-967.68	-645.12	-456.96
Financing Cash Flow	-1,667	-1,311	-1,218	-968.65	-646.09	-456.96
Foreign Exchange Rate Adjustments	11.4	15.11	23.31	53.13	-12.6	-37.46
Net Cash Flow	2,080	900.26	-86.78	543.66	1,233	1,672
Free Cash Flow	3,730	2,212	1,391	1,468	1,891	1,696
Free Cash Flow Growth	170.94%	59.04%	-5.26%	-22.39%	11.53%	55.63%
Free Cash Flow Margin	72.96%	52.83%	39.02%	41.24%	53.89%	59.64%
Free Cash Flow Per Share	6.93	4.11	2.59	2.73	3.52	3.16
Cash Income Tax Paid	613.18	391.01	371.13	376.61	322.21	233.9
Levered Free Cash Flow	2,894	1,467	1,378	486.82	1,161	1,206
Unlevered Free Cash Flow	2,894	1,467	1,378	486.85	1,161	1,206
Change in Working Capital	437.41	437.41	121.61	12.17	165.89	311.61

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