SHE:300053 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	-305.38	-294.22	-425.34	-572.2	42.64	108.11
Depreciation & Amortization	82.55	82.55	117.83	145.15	135.27	173.33
Other Amortization	54.9	54.9	0.67	0.69	0.74	0.92
Loss (Gain) From Sale of Assets	0.04	0.04	0.15	0.01	0.01	-0.36
Asset Writedown & Restructuring Costs	39.41	39.41	235.51	497.41	5.7	-
Loss (Gain) From Sale of Investments	7.19	7.19	1.65	-4.46	-1.32	-56.76
Provision & Write-off of Bad Debts	90.98	90.98	103.77	77.61	47.74	5.42
Other Operating Activities	38.89	16.85	30.57	19.59	6.51	11.71
Change in Accounts Receivable	69.92	69.92	77.34	-227.43	-182.27	-20.7
Change in Inventory	-60.13	-60.13	10.24	95.61	69.13	-170.54
Change in Accounts Payable	73.81	73.81	-23.98	35.36	41.39	-25.15
Change in Other Net Operating Assets	-	-	-	-	-	17.04
Operating Cash Flow	120.04	109.15	133.17	-19.63	151.65	35.72
Operating Cash Flow Growth	221.76%	-18.03%	-	-	324.49%	-57.19%
Capital Expenditures	-42.34	-113.09	-220.65	-92.97	-230.63	-317.7
Sale of Property, Plant & Equipment	-	0.2	0.07	0.05	0.01	0.06
Cash Acquisitions	3.91	-	-	-3	-	-
Divestitures	-	-	-	15.91	44.61	49.59
Investment in Securities	0.2	-77.47	22	24.7	52.64	159.9
Other Investing Activities	1.01	0.03	0.71	1.21	2.54	82.06
Investing Cash Flow	-29.22	-182.33	-162.79	-54.1	-130.82	-26.09
Long-Term Debt Issued	-	222.42	167.33	104.32	135.46	172.6
Long-Term Debt Repaid	-	-208.28	-105.35	-99.74	-169.47	-161.26
Net Debt Issued (Repaid)	49.7	14.15	61.99	4.57	-34.01	11.34
Issuance of Common Stock	-	-	-	-	-	1.7
Common Dividends Paid	-9.48	-7.97	-6.92	-5.83	-3.7	-29.8
Other Financing Activities	-	-	-	-	-	-1.69
Financing Cash Flow	40.21	6.17	55.06	-1.26	-37.7	-18.45
Foreign Exchange Rate Adjustments	0.38	-0.06	0.21	0.09	-0.47	0.18
Net Cash Flow	131.41	-67.07	25.65	-74.9	-17.35	-8.63
Free Cash Flow	77.7	-3.93	-87.48	-112.6	-78.99	-281.98
Free Cash Flow Margin	36.80%	-1.85%	-24.81%	-26.46%	-11.35%	-32.42%
Free Cash Flow Per Share	0.11	-0.01	-0.13	-0.16	-0.11	-0.40
Cash Income Tax Paid	11.74	13.27	40.22	23.72	44.75	32.06
Levered Free Cash Flow	93.02	-12.58	-49.3	-21.19	-65.99	-136.37
Unlevered Free Cash Flow	98.3	-8.14	-45.69	-18.07	-63.75	-134.64
Change in Working Capital	111.46	111.46	68.36	-183.44	-85.62	-206.65

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