SHE:300221 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	Jun '26 Jun 30, 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	156.87	110.72	51.45	27.03	-5.46	73.46
Depreciation & Amortization	72.51	70.87	59.31	46.43	41.83	41.38
Other Amortization	13.64	13.3	11.94	7.36	3.88	4.11
Loss (Gain) From Sale of Assets	-6.68	-0.28	2.57	-7.06	0.35	6.33
Asset Writedown & Restructuring Costs	-4.94	7.82	11.23	27.28	6.24	3.82
Loss (Gain) From Sale of Investments	0.73	2.03	1.86	-3.55	-2.52	-5.71
Provision & Write-off of Bad Debts	0.89	0.89	4.75	2.65	-10.76	3.39
Other Operating Activities	22.79	24.39	12.93	14.16	11.29	-2.32
Change in Accounts Receivable	-82.52	76.69	-275.72	-59.86	350.66	-390.69
Change in Inventory	-9.17	33.55	-94.11	41.22	39.44	-54.45
Change in Accounts Payable	25.74	-135.21	214.6	-38.23	-98.79	221.58
Operating Cash Flow	195.03	206.39	4.02	57.23	340.68	-94.18
Operating Cash Flow Growth	366.21%	5028.52%	-92.97%	-83.20%	-	-
Capital Expenditures	-160.76	-155.95	-160.91	-279.41	-137.36	-41.04
Sale of Property, Plant & Equipment	13	5.24	1.09	29.21	2.5	9.53
Investment in Securities	-11.03	12.87	52.42	143.83	-116.84	149.8
Other Investing Activities	-0.82	1.14	12.83	19.28	6.79	31.57
Investing Cash Flow	-159.62	-136.71	-94.57	-87.09	-244.9	149.87
Short-Term Debt Issued	-	-	-	-	-	384.61
Long-Term Debt Issued	-	179.43	284.56	146.35	207.49	-
Total Debt Issued	331.53	179.43	284.56	146.35	207.49	384.61
Short-Term Debt Repaid	-	-	-	-	-	-412.04
Long-Term Debt Repaid	-	-242.02	-124.02	-171.24	-304.85	-9.39
Total Debt Repaid	-223.63	-242.02	-124.02	-171.24	-304.85	-421.43
Net Debt Issued (Repaid)	107.9	-62.59	160.54	-24.89	-97.36	-36.82
Issuance of Common Stock	-	5.31	31.16	-	-	110.06
Repurchase of Common Stock	-18.33	-18.33	-24.65	-0.44	-5.35	-
Common Dividends Paid	-8.24	-9.65	-7.03	-1.27	-3.66	-9.64
Other Financing Activities	-19.42	6.24	-11.42	38.49	-33.17	-42.63
Financing Cash Flow	61.89	-79.01	148.61	11.89	-139.53	20.98
Foreign Exchange Rate Adjustments	-1.09	-0.51	0.55	0.23	1.74	-1.92
Net Cash Flow	96.21	-9.83	58.62	-17.73	-42.02	74.74
Free Cash Flow	34.27	50.44	-156.88	-222.17	203.32	-135.22
Free Cash Flow Growth	-	-	-	-	-	-
Free Cash Flow Margin	1.43%	2.30%	-7.76%	-13.34%	11.01%	-6.00%
Free Cash Flow Per Share	0.07	0.11	-0.34	-0.49	0.46	-0.29
Levered Free Cash Flow	-36.54	-65.99	-135.75	-279.95	233.04	38.65
Unlevered Free Cash Flow	-27.89	-57.34	-129.06	-276.69	238.49	48.13
Cash Income Tax Paid	13.52	-0.79	13.83	34.27	16.42	22.46
Change in Working Capital	-60.77	-23.36	-152.01	-57.06	295.84	-218.64