SHE:300235 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	18.52	17.37	31.88	23.33	22.87
Depreciation & Amortization	4.44	4.21	4.32	4.89	5.81
Other Amortization	0.02	0.12	0.17	0.44	-
Asset Writedown & Restructuring Costs	-2.39	1.09	0.62	1.01	-0.33
Loss (Gain) From Sale of Investments	-2.08	-4.44	-6.89	-0.82	-5.57
Other Operating Activities	-0.32	-0.05	0	0.01	-0.14
Change in Accounts Receivable	14.51	-2.75	15.58	-13.42	7.9
Change in Inventory	-2.43	1.15	0.29	4.89	-2.46
Change in Accounts Payable	-7.91	5.68	-7.54	-2.01	-5.57
Change in Other Net Operating Assets	-0.69	-	-	-	-
Operating Cash Flow	22	21.46	38.46	18.4	22.48
Operating Cash Flow Growth	2.53%	-44.20%	109.08%	-18.18%	-22.38%
Capital Expenditures	-0.46	-0.72	-2.18	-1.95	-2.03
Sale of Property, Plant & Equipment	0	0	0	0.04	0.07
Cash Acquisitions	-112.65	-	-	-	-
Divestitures	0.8	-	-	-	0.2
Investment in Securities	4.72	5.01	-67.15	-153.81	9.65
Other Investing Activities	5.64	9.82	-21.53	5.88	4.95
Investing Cash Flow	-101.95	14.11	-90.86	-149.83	12.85
Long-Term Debt Repaid	-	-	-0.08	-0.23	-0.14
Total Debt Repaid	-	-	-0.08	-0.23	-0.14
Net Debt Issued (Repaid)	-	-	-0.08	-0.23	-0.14
Repurchase of Common Stock	-	-10	-	-	-
Common Dividends Paid	-11.28	-12.59	-6.71	-3.36	-9.23
Other Financing Activities	1.25	-	-	-	-
Financing Cash Flow	-10.03	-22.59	-6.79	-3.59	-9.37
Net Cash Flow	-89.98	12.98	-59.19	-135.02	25.96
Free Cash Flow	21.54	20.74	36.28	16.45	20.46
Free Cash Flow Growth	3.87%	-42.85%	120.55%	-19.58%	-27.73%
Free Cash Flow Margin	23.71%	22.50%	35.66%	15.26%	18.35%
Free Cash Flow Per Share	0.08	0.08	0.15	0.06	0.08
Cash Income Tax Paid	9.38	9.21	10.31	10.02	9.81
Levered Free Cash Flow	-90.84	14.28	25.99	6.54	9.62
Unlevered Free Cash Flow	-90.84	14.28	25.99	6.54	9.62
Change in Working Capital	3.81	3.16	8.37	-10.47	-0.15

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.