SHE:300139 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	82.71	46.55	-34.38	-82.63	78.64	-98.94
Depreciation & Amortization	43.25	43.25	39.53	29.12	22.63	19.58
Other Amortization	1.35	1.35	0.9	0.88	0.52	0.52
Loss (Gain) From Sale of Assets	-0.16	-0.16	-0.21	-0.09	-0.08	-27.38
Asset Writedown & Restructuring Costs	0.18	0.18	0	-	-	1.89
Loss (Gain) From Sale of Investments	-27.53	-27.53	-0.55	22.88	-16.26	-0.26
Provision & Write-off of Bad Debts	6.34	6.34	31.15	13.56	-108.71	106.78
Other Operating Activities	132.07	15.4	1.15	28.26	29.56	51.43
Change in Accounts Receivable	-35	-35	-23.19	-21.89	301.44	68.1
Change in Inventory	-12.03	-12.03	-8.99	5.95	17.08	7.86
Change in Accounts Payable	68.35	68.35	2.51	-17.08	-14.74	29.39
Change in Other Net Operating Assets	-12.67	-12.67	-	-	-	-
Operating Cash Flow	244.28	91.45	2.61	-20.83	312.95	157.32
Operating Cash Flow Growth	2048.82%	3408.30%	-	-	98.92%	-
Capital Expenditures	-87.7	-74.08	-69.26	-24.35	-50.11	-2.97
Sale of Property, Plant & Equipment	0.06	0	0.11	46.17	125.78	0.43
Cash Acquisitions	-	-	-	-	-46.35	-
Investment in Securities	13.53	3.54	-3.1	-14.85	-27	-
Other Investing Activities	6.98	12.03	0.93	25.44	13.22	7.43
Investing Cash Flow	-67.13	-58.51	-71.33	32.41	15.53	4.89
Long-Term Debt Issued	-	-	-	-	-	40
Long-Term Debt Repaid	-	-	-	-	-10.69	-142.9
Net Debt Issued (Repaid)	10	-	-	-	-10.69	-102.9
Common Dividends Paid	-	-	-	-	-0.56	-6.81
Other Financing Activities	-0.08	-	-	-	-	-3.69
Financing Cash Flow	14.82	-	-	-	-11.25	-113.4
Foreign Exchange Rate Adjustments	2.45	4.31	7.65	1.81	-16.08	-2.11
Net Cash Flow	194.41	37.25	-61.07	13.38	301.15	46.7
Free Cash Flow	156.57	17.37	-66.66	-45.18	262.84	154.35
Free Cash Flow Growth	-	-	-	-	70.28%	-
Free Cash Flow Margin	31.86%	4.96%	-28.13%	-20.67%	136.03%	83.55%
Free Cash Flow Per Share	0.57	0.06	-0.25	-0.16	0.97	0.56
Cash Income Tax Paid	31.73	17.6	12.14	16.14	-1.83	-0.89
Levered Free Cash Flow	227.39	47.53	-34.01	33.85	474.16	145.61
Unlevered Free Cash Flow	227.44	47.53	-34.01	33.85	474.35	151.57
Change in Working Capital	6.09	6.09	-34.99	-32.82	306.64	103.7

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