SHE:300272 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	80.07	83.58	132.45	92.56	104.86
Depreciation & Amortization	92.97	72.67	76.91	75.76	52.12
Other Amortization	6	7.06	2.31	4.57	11.6
Loss (Gain) From Sale of Assets	0.14	0.11	-2.42	-1.55	0.18
Asset Writedown & Restructuring Costs	16.11	0.05	0.09	15.47	6.52
Loss (Gain) From Sale of Investments	41.83	30.46	-5.13	-3.74	-35.38
Provision & Write-off of Bad Debts	-	1.3	2.36	0.55	2.78
Other Operating Activities	59.62	54.05	45.58	18.2	30.84
Change in Accounts Receivable	-3.74	-9.47	-4.74	26.17	-137.99
Change in Inventory	-45.69	-12.33	62.38	-37.84	-65
Change in Accounts Payable	53.93	50.79	62.6	-39.9	218.53
Change in Other Net Operating Assets	-	18.63	1.64	0.3	0.47
Operating Cash Flow	299.61	289.64	374.83	155.44	186.77
Operating Cash Flow Growth	3.44%	-22.73%	141.15%	-16.78%	33.00%
Capital Expenditures	-144.72	-99.66	-80.24	-94.58	-71.29
Sale of Property, Plant & Equipment	16.95	0.14	0.57	2.64	4.7
Cash Acquisitions	-	-	-	0	7.06
Divestitures	-	-	-8.43	-	99.88
Investment in Securities	117.35	-181.76	-262.11	27.12	-41.03
Other Investing Activities	5.92	0.14	-	5.01	0.16
Investing Cash Flow	-4.5	-280.88	-349.67	-59.81	-0.51
Long-Term Debt Issued	1,311	1,091	1,124	518.85	409.78
Total Debt Issued	1,311	1,091	1,124	518.85	409.78
Long-Term Debt Repaid	-925.6	-1,168	-643.52	-357.88	-427.33
Total Debt Repaid	-925.6	-1,168	-643.52	-357.88	-427.33
Net Debt Issued (Repaid)	385.89	-77.05	480.69	160.97	-17.55
Issuance of Common Stock	-	-	44.69	-	2.29
Repurchase of Common Stock	-	-29.06	-	-31.37	-38
Common Dividends Paid	-132.57	-181.47	-78.16	-69.87	-40.86
Other Financing Activities	-76.41	-11.67	-16.94	-28.75	-2.49
Financing Cash Flow	176.91	-299.24	430.29	30.98	-96.6
Foreign Exchange Rate Adjustments	-14.84	12.34	20.45	14.82	0.84
Net Cash Flow	457.18	-278.14	475.9	141.43	90.49
Free Cash Flow	154.89	189.98	294.59	60.85	115.48
Free Cash Flow Growth	-18.47%	-35.51%	384.12%	-47.30%	18.70%
Free Cash Flow Margin	8.41%	11.25%	17.62%	3.66%	7.64%
Free Cash Flow Per Share	0.27	0.33	0.51	0.11	0.20
Cash Income Tax Paid	60.47	61.31	45.22	18.42	19.91
Levered Free Cash Flow	239.06	85.83	165.73	107.38	107.21
Unlevered Free Cash Flow	239.06	107.38	183.5	117.91	117.39
Change in Working Capital	2.87	40.36	122.68	-46.38	13.25

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