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 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	-355.81	-357.9	-249.48	-1,240	17.51	233.57
Depreciation & Amortization	69.55	69.55	73.7	74.7	56.94	55.8
Other Amortization	2.21	2.21	1.05	0.8	0.62	-
Loss (Gain) From Sale of Assets	0.23	0.23	0.78	0	0.01	-
Asset Writedown & Restructuring Costs	3.68	3.68	1.3	1.78	2.12	0.11
Loss (Gain) From Sale of Investments	-1.67	-1.67	-33.26	-0.01	-	-
Provision & Write-off of Bad Debts	29.53	29.53	6.61	15.38	6.51	-0.13
Other Operating Activities	133.79	218.66	169.76	730.56	98.1	62.96
Change in Accounts Receivable	12.29	12.29	-21.01	284.66	-97.06	91.52
Change in Inventory	44.36	44.36	190	161.28	-156.01	-398.02
Change in Accounts Payable	32.32	32.32	-82.25	13.82	72.17	-48.54
Operating Cash Flow	-27.1	55.68	56.22	33.73	3.13	2.87
Operating Cash Flow Growth	-	-0.95%	66.69%	979.06%	8.85%	-
Capital Expenditures	-123.85	-123.36	-239.59	-239.32	-431.22	-308.08
Sale of Property, Plant & Equipment	-	-	0.06	0.02	0	-
Investment in Securities	-	-	-	0	-	-
Other Investing Activities	0.2	-0	5.77	0.45	-0.1	0.78
Investing Cash Flow	-123.6	-123.31	-233.76	-238.85	-431.32	-307.31
Long-Term Debt Issued	-	2,201	2,000	1,346	2,816	1,581
Total Debt Issued	2,782	2,201	2,000	1,346	2,816	1,581
Long-Term Debt Repaid	-	-2,242	-1,687	-1,529	-2,030	-1,182
Total Debt Repaid	-2,700	-2,242	-1,687	-1,529	-2,030	-1,182
Net Debt Issued (Repaid)	82.22	-41.31	312.96	-182.36	786.08	399.46
Common Dividends Paid	-118	-118.69	-119.93	-107.73	-124	-61.89
Other Financing Activities	74.45	101.46	-11.3	-4.85	-8.63	5.39
Financing Cash Flow	38.66	-58.54	181.73	-294.94	653.44	342.96
Foreign Exchange Rate Adjustments	0.38	2.28	0.84	3.03	12.96	-3.49
Net Cash Flow	-111.66	-123.89	5.03	-497.03	238.2	35.04
Free Cash Flow	-150.95	-67.68	-183.37	-205.6	-428.1	-305.21
Free Cash Flow Margin	-17.30%	-7.73%	-17.79%	-14.58%	-18.32%	-10.28%
Free Cash Flow Per Share	-0.17	-0.07	-0.20	-0.22	-0.49	-0.33
Cash Income Tax Paid	33.47	28.98	22.83	149.83	70.81	163.73
Levered Free Cash Flow	332.49	82.38	-43.88	55.71	-500.03	-469.98
Unlevered Free Cash Flow	393.37	142.95	20.39	115.97	-441.88	-431.04
Change in Working Capital	91.39	91.39	85.78	450.73	-178.69	-349.44

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