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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	3,341	3,205	1,823	1,402	1,691	1,911
Depreciation & Amortization	77.28	77.28	76.74	73.08	53.65	50.15
Other Amortization	-	-	-	0.16	0.51	0.89
Loss (Gain) From Sale of Assets	-	-	-	-	-	-0.02
Asset Writedown & Restructuring Costs	0.59	0.59	0.75	0.61	0.23	0.4
Loss (Gain) From Sale of Investments	-8.08	-8.08	-20.97	-0.78	-0.29	-0.01
Provision & Write-off of Bad Debts	-0.73	-0.73	-1.09	1.28	0.36	-
Other Operating Activities	394.11	4.12	-0.6	-6.52	-8.09	-0.69
Change in Accounts Receivable	-2,810	-2,810	-180.95	-453.75	285.89	84.93
Change in Accounts Payable	3,306	3,306	618.08	575.36	-273.78	81.5
Operating Cash Flow	4,300	3,774	2,316	1,592	1,750	2,128
Operating Cash Flow Growth	60.48%	63.00%	45.45%	-9.01%	-17.77%	2.99%
Capital Expenditures	-150.83	-142.42	-103.68	-201.13	-281.68	-236.35
Sale of Property, Plant & Equipment	-	-	-	-	-	0.04
Investment in Securities	-35.79	-35.79	-18.29	-283.08	-8.74	-
Other Investing Activities	72.09	65.48	2.52	-	-	-
Investing Cash Flow	-114.53	-112.73	-119.45	-484.21	-290.42	-236.3
Long-Term Debt Repaid	-	-	-0.98	-0.98	-0.97	-0.97
Net Debt Issued (Repaid)	-	-	-0.98	-0.98	-0.97	-0.97
Common Dividends Paid	-53.76	-1,667	-1,310	-1,217	-967.68	-645.12
Financing Cash Flow	-53.76	-1,667	-1,311	-1,218	-968.65	-646.09
Foreign Exchange Rate Adjustments	-39.61	-24.91	15.11	23.31	53.13	-12.6
Net Cash Flow	4,092	1,970	900.26	-86.78	543.66	1,233
Free Cash Flow	4,149	3,632	2,212	1,391	1,468	1,891
Free Cash Flow Growth	62.82%	64.20%	59.04%	-5.26%	-22.39%	11.53%
Free Cash Flow Margin	65.50%	60.24%	52.83%	39.02%	41.24%	53.89%
Free Cash Flow Per Share	5.51	4.82	2.94	1.85	1.95	2.52
Cash Income Tax Paid	753.07	610.6	391.01	371.13	376.61	322.21
Levered Free Cash Flow	10,173	5,385	1,467	1,378	486.82	1,161
Unlevered Free Cash Flow	10,173	5,385	1,467	1,378	486.85	1,161
Change in Working Capital	495.98	495.98	437.41	121.61	12.17	165.89

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