SHE:300039 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	345.55	375.58	327.87	190.8	140.11	106.12
Depreciation & Amortization	35.42	35.42	37.53	31.71	33.86	40.81
Other Amortization	0.93	0.93	0.11	0.01	-	0.21
Loss (Gain) From Sale of Assets	0.26	0.26	0.21	0.17	0.22	0.07
Asset Writedown & Restructuring Costs	-3.03	-3.03	7.33	0.65	-6.16	-1.05
Loss (Gain) From Sale of Investments	-11.43	-11.43	-4.92	10.69	4.85	1.65
Other Operating Activities	-27.8	-0.43	-1.64	-0.44	-0.68	1.21
Change in Accounts Receivable	-0.14	-0.14	99.53	58.32	-74.9	137.88
Change in Inventory	-16.26	-16.26	-10.33	4.06	27.22	-2.23
Change in Accounts Payable	-102.8	-102.8	-60.18	76.9	-4.37	-25.24
Change in Other Net Operating Assets	-4.32	-4.32	-5.33	6.8	3.33	-2.18
Operating Cash Flow	221.56	278.95	382.66	376.42	126.08	250.65
Operating Cash Flow Growth	-37.04%	-27.10%	1.66%	198.56%	-49.70%	-24.97%
Capital Expenditures	-19.89	-140.52	-29.08	-31.62	-42.55	-13.94
Sale of Property, Plant & Equipment	0.46	0.03	0.03	0.27	0.15	0.11
Cash Acquisitions	-	-	-	-	-14.52	-4.45
Investment in Securities	62.26	90.73	-181.21	-257.11	-29.93	69.34
Other Investing Activities	129.87	16.33	11.63	3.08	3.34	14.3
Investing Cash Flow	172.69	-33.43	-198.63	-285.37	-83.51	65.21
Short-Term Debt Issued	-	5.42	-	-	-	35.72
Total Debt Issued	2.43	5.42	-	-	-	35.72
Long-Term Debt Repaid	-	-	-	-	-37.72	-
Total Debt Repaid	-	-	-	-	-37.72	-
Net Debt Issued (Repaid)	2.43	5.42	-	-	-37.72	35.72
Common Dividends Paid	-104.64	-104.6	-62.76	-52.3	-31.64	-104.6
Other Financing Activities	-0.05	-0.05	-	-	-	-0.52
Financing Cash Flow	-102.25	-99.23	-62.76	-52.3	-69.37	-69.39
Net Cash Flow	292	146.3	121.27	38.75	-26.8	246.47
Free Cash Flow	201.66	138.43	353.59	344.8	83.53	236.71
Free Cash Flow Growth	-0.06%	-60.85%	2.55%	312.79%	-64.71%	-25.71%
Free Cash Flow Margin	17.22%	9.40%	22.18%	30.82%	7.59%	26.07%
Free Cash Flow Per Share	0.19	0.13	0.34	0.33	0.08	0.23
Cash Interest Paid	0.04	0.04	-	-	-	0.52
Cash Income Tax Paid	178.3	239.25	255.43	144.47	157.16	151.53
Levered Free Cash Flow	171.41	15.38	261.78	275.04	16.78	191.45
Unlevered Free Cash Flow	171.47	15.41	261.78	275.04	16.88	191.78
Change in Working Capital	-118.33	-118.33	16.17	142.82	-46.13	101.62

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