SHE:300106 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	-113.88	-118.81	-64.25	12.99	14.41	11.95
Depreciation & Amortization	45.8	45.8	43.63	44.5	44.79	46.1
Other Amortization	1.47	1.47	0.21	0.04	0.45	0.02
Loss (Gain) From Sale of Assets	0.05	0.05	-0.96	0.01	-0.31	-0.06
Asset Writedown & Restructuring Costs	10.3	10.3	0	26.31	17.35	8.74
Loss (Gain) From Sale of Investments	16.96	16.96	34.38	7.6	-1	8.14
Provision & Write-off of Bad Debts	47.64	47.64	14.75	-	-	-
Other Operating Activities	150.43	54.83	64.55	42.52	41.43	29.58
Change in Accounts Receivable	-132.65	-132.65	-149.79	-23.23	10.45	36.64
Change in Inventory	29.68	29.68	32.7	-42.49	1.2	-4.7
Change in Accounts Payable	71.15	71.15	26.27	48.93	-37.95	18.43
Change in Other Net Operating Assets	-	-	-	-	2.58	0.54
Operating Cash Flow	125.42	24.89	5.09	115.06	92.54	155.39
Operating Cash Flow Growth	169.34%	388.93%	-95.58%	24.34%	-40.45%	615.56%
Capital Expenditures	-10.1	-10.9	-25.09	-11.65	-33.88	-29.25
Sale of Property, Plant & Equipment	-0.24	-	1.55	0.02	1.05	0.11
Investment in Securities	-	-	-	-	-	29
Investing Cash Flow	-10.35	-10.9	-23.54	-11.64	-32.84	-0.14
Long-Term Debt Issued	-	157.73	257.27	240	222	222
Total Debt Issued	179.7	157.73	257.27	240	222	222
Long-Term Debt Repaid	-	-195.6	-244.8	-232.5	-222	-196
Total Debt Repaid	-204.46	-195.6	-244.8	-232.5	-222	-196
Net Debt Issued (Repaid)	-24.76	-37.87	12.47	7.5	-	26
Common Dividends Paid	-	-9.68	-	-	-10.24	-16.97
Other Financing Activities	-8.72	-29.01	-29.62	-9.59	-16	-12
Financing Cash Flow	-33.48	-76.56	-17.15	-2.09	-26.24	-2.97
Foreign Exchange Rate Adjustments	-	-	-	-	-0	0
Net Cash Flow	81.6	-62.56	-35.6	101.34	33.46	152.29
Free Cash Flow	115.32	14	-20	103.41	58.66	126.14
Free Cash Flow Growth	198.36%	-	-	76.29%	-53.50%	-
Free Cash Flow Margin	12.77%	1.49%	-1.78%	7.81%	5.20%	15.38%
Free Cash Flow Per Share	0.55	0.07	-0.10	0.49	0.28	0.63
Cash Interest Paid	-	-	9.62	9.59	-	-
Cash Income Tax Paid	8.24	7.55	10.71	-16.55	15.36	11.65
Levered Free Cash Flow	108.34	45.6	-57.05	72.62	26	98.89
Unlevered Free Cash Flow	114.15	51.76	-51.04	78.61	32.45	105.31
Change in Working Capital	-33.35	-33.35	-87.23	-18.91	-24.56	50.93

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