SHE:300255 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	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-301.59	-249.48	-1,240	17.51	233.57	252.84
Depreciation & Amortization	73.31	73.31	74.7	56.94	55.8	55.28
Other Amortization	1.44	1.44	0.8	0.62	-	-
Loss (Gain) From Sale of Assets	0.78	0.78	0	0.01	-	-
Asset Writedown & Restructuring Costs	1.3	1.3	1.78	2.12	0.11	0.02
Loss (Gain) From Sale of Investments	-33.26	-33.26	-0.01	-	-	-
Provision & Write-off of Bad Debts	6.61	6.61	15.38	6.51	-0.13	2.67
Other Operating Activities	213.87	169.76	730.56	98.1	62.96	57.34
Change in Accounts Receivable	-21.01	-21.01	284.66	-97.06	91.52	-90.31
Change in Inventory	190	190	161.28	-156.01	-398.02	-479.01
Change in Accounts Payable	-82.25	-82.25	13.82	72.17	-48.54	23.62
Operating Cash Flow	48.22	56.22	33.73	3.13	2.87	-183.58
Operating Cash Flow Growth	-84.31%	66.69%	979.06%	8.85%	-	-
Capital Expenditures	-193.72	-239.59	-239.32	-431.22	-308.08	-199.78
Sale of Property, Plant & Equipment	0.06	0.06	0.02	0	-	-
Investment in Securities	-	-	0	-	-	-
Other Investing Activities	6.08	5.77	0.45	-0.1	0.78	-3.07
Investing Cash Flow	-187.58	-233.76	-238.85	-431.32	-307.31	-202.85
Long-Term Debt Issued	-	2,000	1,346	2,816	1,581	1,579
Total Debt Issued	2,278	2,000	1,346	2,816	1,581	1,579
Long-Term Debt Repaid	-	-1,687	-1,529	-2,030	-1,182	-1,099
Total Debt Repaid	-2,082	-1,687	-1,529	-2,030	-1,182	-1,099
Net Debt Issued (Repaid)	196.4	312.96	-182.36	786.08	399.46	480.14
Common Dividends Paid	-128.1	-119.93	-107.73	-124	-61.89	-68.46
Other Financing Activities	0.55	-11.3	-4.85	-8.63	5.39	-120.01
Financing Cash Flow	68.85	181.73	-294.94	653.44	342.96	291.67
Foreign Exchange Rate Adjustments	3.36	0.84	3.03	12.96	-3.49	-1.76
Net Cash Flow	-67.15	5.03	-497.03	238.2	35.04	-96.52
Free Cash Flow	-145.5	-183.37	-205.6	-428.1	-305.21	-383.36
Free Cash Flow Margin	-15.68%	-17.79%	-14.58%	-18.32%	-10.28%	-16.22%
Free Cash Flow Per Share	-0.14	-0.20	-0.22	-0.49	-0.33	-0.41
Cash Interest Paid	7.5	7.5	2.65	-	-	-
Cash Income Tax Paid	37.64	22.83	149.83	70.81	163.73	207.02
Levered Free Cash Flow	-72.5	-43.88	55.71	-500.03	-469.98	-472.58
Unlevered Free Cash Flow	-8.36	20.39	115.97	-441.88	-431.04	-437.7
Change in Working Capital	85.78	85.78	450.73	-178.69	-349.44	-551.73

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