SHE:300210 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	-38.23	-18.23	-49.88	-114.67	-244.85	-183.29
Depreciation & Amortization	32.24	32.24	34.4	29.87	30.45	29.25
Other Amortization	2.8	2.8	-	-	-	-
Loss (Gain) From Sale of Assets	-0.18	-0.18	0.9	2.02	1.05	-0.24
Asset Writedown & Restructuring Costs	0.56	0.56	0.36	11.98	2.46	-
Loss (Gain) From Sale of Investments	0.53	0.53	2.6	15.26	55	17.25
Provision & Write-off of Bad Debts	0.87	0.87	-1.16	-40.58	21.95	53.13
Other Operating Activities	36.33	19.81	20.38	63.47	68.89	48.23
Change in Accounts Receivable	-3.09	-3.09	-44.61	88.81	46.08	94.54
Change in Inventory	42.18	42.18	-70.29	-0.06	-6.58	44.54
Change in Accounts Payable	-20.77	-20.77	22.87	31.07	-6.28	-37.65
Operating Cash Flow	53.18	56.66	-84.49	86.9	12.44	80.71
Operating Cash Flow Growth	-	-	-	598.31%	-84.58%	-50.19%
Capital Expenditures	-9.56	-9.29	-2.47	-1.08	-0.87	-7.39
Sale of Property, Plant & Equipment	0.39	0.39	1.48	1.9	0.87	0.1
Divestitures	0.2	0.2	-	-	-	8.1
Investment in Securities	-0.66	-0.6	-	6.9	-	0.03
Other Investing Activities	0.04	0.04	0.06	0.06	3.56	0.06
Investing Cash Flow	-9.59	-9.26	-0.93	7.79	3.55	0.9
Short-Term Debt Issued	-	-	-	459.2	268.88	469.48
Long-Term Debt Issued	-	224	258.45	-	-	-
Total Debt Issued	258	224	258.45	459.2	268.88	469.48
Short-Term Debt Repaid	-	-	-	-424.69	-277.58	-555.35
Long-Term Debt Repaid	-	-237.78	-268.11	-	-	-
Total Debt Repaid	-279.28	-237.78	-268.11	-424.69	-277.58	-555.35
Net Debt Issued (Repaid)	-21.28	-13.78	-9.66	34.51	-8.7	-85.87
Common Dividends Paid	-13.3	-13.01	-11.8	-21.51	-21.23	-26.08
Other Financing Activities	-	-	-	-	8.43	-8.43
Financing Cash Flow	-34.58	-26.79	-21.46	13	-21.5	-120.38
Net Cash Flow	9.01	20.6	-106.87	107.68	-5.5	-38.77
Free Cash Flow	43.62	47.37	-86.95	85.82	11.57	73.32
Free Cash Flow Growth	-	-	-	641.68%	-84.22%	-51.93%
Free Cash Flow Margin	17.88%	14.47%	-38.34%	43.27%	5.67%	34.79%
Free Cash Flow Per Share	0.09	0.10	-0.17	0.18	0.02	0.15
Cash Income Tax Paid	21.41	25.18	8.74	18.07	9.42	13.07
Levered Free Cash Flow	-133.21	48.84	-67	128.12	76.33	88.82
Unlevered Free Cash Flow	-123.85	58.09	-56.94	140.64	93.65	104.32
Change in Working Capital	18.26	18.26	-92.09	119.54	77.5	116.4

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