SHE:300204 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-169.06	-147.73	-398.89	-197.01	-137.4	-133.02
Depreciation & Amortization	22.35	22.35	32.31	33.99	36.8	34.87
Other Amortization	0.51	0.51	0.14	0.07	0.12	0.22
Loss (Gain) From Sale of Assets	-0.28	-0.28	-0.3	0.04	-	-2.23
Asset Writedown & Restructuring Costs	-0.01	-0.01	10.55	25.36	3.52	-0.23
Loss (Gain) From Sale of Investments	-0.14	-0.14	0	-4.05	-20.82	-16.35
Other Operating Activities	-60.6	0.39	1.17	0.36	0.65	0.84
Change in Accounts Receivable	27.62	27.62	126.6	-83.75	-148.12	-9.18
Change in Inventory	-1.25	-1.25	-11.99	5.85	8.28	13
Change in Accounts Payable	-78.56	-78.56	-20.3	89.63	170.49	36.56
Operating Cash Flow	-146	-63.68	-228.32	-175.6	-162.07	-114.6
Capital Expenditures	-31.36	-23.53	-32.15	-56.51	-56.24	-48.86
Sale of Property, Plant & Equipment	1.82	0.17	0.24	0.01	0.01	5.67
Investment in Securities	39.65	27.57	49.75	371.25	175.86	-118.22
Other Investing Activities	-0.47	-	-	6.57	23.02	21.12
Investing Cash Flow	9.64	4.21	17.84	321.32	142.66	-140.29
Short-Term Debt Issued	-	46.36	60.14	22.94	-	53.52
Total Debt Issued	88.01	46.36	60.14	22.94	-	53.52
Short-Term Debt Repaid	-	-45.16	-42.69	-0.67	-48	-5.52
Long-Term Debt Repaid	-	-0.06	-0.47	-2.62	-2.5	-
Total Debt Repaid	-46.43	-45.22	-43.16	-3.3	-50.5	-5.52
Net Debt Issued (Repaid)	41.58	1.14	16.98	19.65	-50.5	48
Issuance of Common Stock	26.9	26.9	14.68	16.37	18.31	-
Common Dividends Paid	-0.75	-0.54	-1.02	-	-0.32	-0.85
Other Financing Activities	183.41	-	-	-3.4	-3.4	-3.4
Financing Cash Flow	251.15	27.5	30.64	32.62	-35.91	43.75
Foreign Exchange Rate Adjustments	-0.1	0.34	0.03	1.64	-0.24	-0.89
Net Cash Flow	114.68	-31.63	-179.81	179.98	-55.56	-212.04
Free Cash Flow	-177.35	-87.21	-260.47	-232.12	-218.31	-163.46
Free Cash Flow Margin	-72.58%	-26.85%	-71.52%	-42.28%	-37.36%	-38.44%
Free Cash Flow Per Share	-0.34	-0.18	-0.55	-0.48	-0.46	-0.34
Cash Income Tax Paid	20.9	18.11	17.88	31.18	41.33	41.28
Levered Free Cash Flow	-148.08	-54.17	-159.59	-190.16	-150.29	-94.67
Unlevered Free Cash Flow	-144.9	-53.77	-158.86	-189.93	-149.88	-94.03
Change in Working Capital	61.23	61.23	126.7	-34.36	-44.95	1.29

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