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 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	-361.16	-341.21	-294.22	-425.34	-572.2	42.64
Depreciation & Amortization	74.2	74.2	137.22	117.83	145.15	135.27
Other Amortization	59.88	59.88	0.23	0.67	0.69	0.74
Loss (Gain) From Sale of Assets	-0.44	-0.44	0.04	0.15	0.01	0.01
Asset Writedown & Restructuring Costs	82.29	82.29	39.41	235.51	497.41	5.7
Loss (Gain) From Sale of Investments	3.6	3.6	7.19	1.65	-4.46	-1.32
Provision & Write-off of Bad Debts	96.07	96.07	90.98	103.77	77.61	47.74
Other Operating Activities	71.21	48.24	16.85	30.57	19.59	6.51
Change in Accounts Receivable	-16.6	-16.6	69.92	77.34	-227.43	-182.27
Change in Inventory	-43.83	-43.83	-60.13	10.24	95.61	69.13
Change in Accounts Payable	27.69	27.69	73.81	-23.98	35.36	41.39
Operating Cash Flow	48.75	45.72	109.15	133.17	-19.63	151.65
Operating Cash Flow Growth	-34.56%	-58.11%	-18.03%	-	-	324.49%
Capital Expenditures	-47.72	-43.51	-113.09	-220.65	-92.97	-230.63
Sale of Property, Plant & Equipment	0.04	0.02	0.2	0.07	0.05	0.01
Cash Acquisitions	-1.89	-0.4	-	-	-3	-
Divestitures	-	-	-	-	15.91	44.61
Investment in Securities	-	94	-77.47	22	24.7	52.64
Other Investing Activities	1.1	1.32	0.03	0.71	1.21	2.54
Investing Cash Flow	-48.47	51.44	-182.33	-162.79	-54.1	-130.82
Long-Term Debt Issued	-	228.66	222.42	167.33	104.32	135.46
Long-Term Debt Repaid	-	-176.46	-208.28	-105.35	-99.74	-169.47
Net Debt Issued (Repaid)	62.04	52.2	14.15	61.99	4.57	-34.01
Common Dividends Paid	-9.42	-9.03	-7.97	-6.92	-5.83	-3.7
Other Financing Activities	0.16	-	-	-	-	-
Financing Cash Flow	52.78	43.17	6.17	55.06	-1.26	-37.7
Foreign Exchange Rate Adjustments	0.44	0.41	-0.06	0.21	0.09	-0.47
Net Cash Flow	53.5	140.75	-67.07	25.65	-74.9	-17.35
Free Cash Flow	1.03	2.21	-3.93	-87.48	-112.6	-78.99
Free Cash Flow Growth	-97.35%	-	-	-	-	-
Free Cash Flow Margin	0.41%	0.80%	-1.85%	-24.81%	-26.46%	-11.35%
Free Cash Flow Per Share	0.00	0.00	-0.01	-0.13	-0.16	-0.11
Cash Income Tax Paid	16.33	16.33	13.27	40.22	23.72	44.75
Levered Free Cash Flow	76.57	69.78	-12.56	-49.3	-21.19	-65.99
Unlevered Free Cash Flow	82.43	75.38	-8.12	-45.69	-18.07	-63.75
Change in Working Capital	23.1	23.1	111.46	68.36	-183.44	-85.62

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