SHE:300197 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-2,155	-2,596	-1,483	-866.17	-353.97
Depreciation & Amortization	38.47	44.18	50.41	75.17	87.18
Other Amortization	1.99	3.47	3.21	10.76	12.67
Loss (Gain) From Sale of Assets	9.94	0.76	0.93	0.31	-10.94
Asset Writedown & Restructuring Costs	362.91	179.2	109.27	1	1
Loss (Gain) From Sale of Investments	154.69	59.05	-112.02	-50.27	-97.78
Provision & Write-off of Bad Debts	-	1,223	259.9	251.79	18.82
Other Operating Activities	826.23	285.72	662.81	469.08	465.36
Change in Accounts Receivable	1,220	775.16	784.57	-528.8	-344.28
Change in Inventory	39.81	-35.77	17.12	34.58	-18.27
Change in Accounts Payable	-393.39	416.5	-348.61	418.88	-36.65
Operating Cash Flow	102.79	179.46	-134.22	-302.42	-339.48
Operating Cash Flow Growth	-42.73%	-	-	-	-
Capital Expenditures	-0.45	-2.11	-1.48	-24.11	-113.13
Sale of Property, Plant & Equipment	3.67	1.66	32.61	81.21	153.47
Divestitures	-	-	238.93	296.89	0.05
Investment in Securities	82.42	1.02	0.98	192.71	-297.79
Other Investing Activities	0.58	0.49	-	73.32	1.33
Investing Cash Flow	86.22	1.07	271.05	620.02	-256.08
Long-Term Debt Issued	3,118	4,556	11,008	10,247	7,046
Short-Term Debt Repaid	-	-1,942	-2,433	-2,345	-1,786
Long-Term Debt Repaid	-5,435	-8,628	-10,855	-9,930	-6,639
Total Debt Repaid	-5,435	-10,570	-13,288	-12,275	-8,425
Net Debt Issued (Repaid)	-2,317	-6,014	-2,280	-2,028	-1,379
Issuance of Common Stock	-	-	297.26	-	1,396
Common Dividends Paid	-594.4	-683.14	-707.66	-824.2	-858.41
Other Financing Activities	2,736	5,460	3,352	1,925	1,712
Financing Cash Flow	-175.1	-1,237	662.02	-927.4	870.79
Foreign Exchange Rate Adjustments	-1.01	-9.07	-	-	-
Net Cash Flow	12.89	-1,066	798.85	-609.8	275.23
Free Cash Flow	102.34	177.36	-135.7	-326.53	-452.61
Free Cash Flow Growth	-42.30%	-	-	-	-
Free Cash Flow Margin	11.37%	16.96%	-9.57%	-11.71%	-17.00%
Free Cash Flow Per Share	0.04	0.06	-0.05	-0.12	-0.19
Cash Income Tax Paid	39.22	106.78	88.14	-90.29	128.53
Levered Free Cash Flow	3,202	2,756	-503.27	-225.58	-80.67
Unlevered Free Cash Flow	3,202	3,141	-71.07	245.55	353.45
Change in Working Capital	863.87	980.28	374.11	-194.09	-461.82

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