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 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	217.94	184.04	46.55	-34.38	-82.63	78.64
Depreciation & Amortization	60.56	60.56	43.25	39.53	29.12	22.63
Other Amortization	1.27	1.27	1.35	0.9	0.88	0.52
Loss (Gain) From Sale of Assets	-0.09	-0.09	-0.16	-0.21	-0.09	-0.08
Asset Writedown & Restructuring Costs	31.64	31.64	0.18	0	-	-
Loss (Gain) From Sale of Investments	-23.28	-23.28	-27.53	-0.55	22.88	-16.26
Provision & Write-off of Bad Debts	-	-	6.34	31.15	13.56	-108.71
Other Operating Activities	13.53	8.19	15.4	1.15	28.26	29.56
Change in Accounts Receivable	-15.26	-15.26	-35	-23.19	-21.89	301.44
Change in Inventory	22.71	22.71	-12.03	-8.99	5.95	17.08
Change in Accounts Payable	43.13	43.13	68.35	2.51	-17.08	-14.74
Change in Other Net Operating Assets	-6.57	-6.57	-12.67	-	-	-
Operating Cash Flow	327.22	287.98	91.45	2.61	-20.83	312.95
Operating Cash Flow Growth	177.69%	214.91%	3408.30%	-	-	98.92%
Capital Expenditures	-159.69	-116.99	-74.08	-69.26	-24.35	-50.11
Sale of Property, Plant & Equipment	0.08	0.13	0	0.11	46.17	125.78
Cash Acquisitions	-	-	-	-	-	-46.35
Investment in Securities	-8.98	0.75	3.54	-3.1	-14.85	-27
Other Investing Activities	14.67	26.37	12.03	0.93	25.44	13.22
Investing Cash Flow	-153.93	-89.75	-58.51	-71.33	32.41	15.53
Long-Term Debt Issued	-	10	-	-	-	-
Long-Term Debt Repaid	-	-	-	-	-	-10.69
Net Debt Issued (Repaid)	13	10	-	-	-	-10.69
Common Dividends Paid	-0.2	-0.14	-	-	-	-0.56
Other Financing Activities	-0.09	4.81	-	-	-	-
Financing Cash Flow	12.72	14.68	-	-	-	-11.25
Foreign Exchange Rate Adjustments	-18.46	-8.78	4.31	7.65	1.81	-16.08
Net Cash Flow	167.54	204.13	37.25	-61.07	13.38	301.15
Free Cash Flow	167.52	170.99	17.37	-66.66	-45.18	262.84
Free Cash Flow Growth	340.52%	884.61%	-	-	-	70.28%
Free Cash Flow Margin	24.00%	27.13%	4.96%	-28.13%	-20.67%	136.03%
Free Cash Flow Per Share	0.60	0.62	0.06	-0.25	-0.16	0.97
Cash Income Tax Paid	53.92	45.74	17.6	12.14	16.14	-1.83
Levered Free Cash Flow	141.41	175.01	47.53	-34.01	33.85	474.16
Unlevered Free Cash Flow	141.41	175.01	47.53	-34.01	33.85	474.35
Change in Working Capital	25.65	25.65	6.09	-34.99	-32.82	306.64

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