SHE:300283 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	25.17	-73.67	21.12	30.33	60.33
Depreciation & Amortization	122.55	104.67	94.5	81.75	70.05
Other Amortization	3.7	16.34	0.6	0.07	0.42
Loss (Gain) From Sale of Assets	-0.4	-0.33	0.42	0.66	-0.07
Asset Writedown & Restructuring Costs	15.99	9.92	0.8	0.33	-
Loss (Gain) From Sale of Investments	0.36	0.51	-100.59	-14.6	-16.54
Provision & Write-off of Bad Debts	2.12	3.62	2.61	2.9	-5.07
Other Operating Activities	114.15	94.74	100.2	70.64	60.23
Change in Accounts Receivable	-193.5	-241.71	-155.72	-110.86	53.66
Change in Inventory	-165.21	-96.24	-62.41	-213.55	-108.3
Change in Accounts Payable	129.42	138.98	80.16	31.67	54.25
Change in Other Net Operating Assets	-	-	-	-	0.84
Operating Cash Flow	59	-49.83	-27.62	-128.25	170.61
Capital Expenditures	-107.7	-274.45	-362.01	-217.94	-115.86
Sale of Property, Plant & Equipment	3.41	0.38	1.56	1.29	1
Divestitures	-	-	153	-	-
Investment in Securities	0.25	-2.47	-0.44	-	0.08
Other Investing Activities	-1.27	-0.19	1.88	1.15	-0.82
Investing Cash Flow	-105.3	-276.73	-206.01	-215.51	-115.6
Long-Term Debt Issued	1,163	1,424	1,171	1,393	1,155
Long-Term Debt Repaid	-1,033	-1,064	-875.92	-960.89	-1,018
Net Debt Issued (Repaid)	129.55	359.74	295	431.93	137.19
Common Dividends Paid	-56.77	-59.41	-45.51	-45.93	-37.83
Other Financing Activities	50.03	-22.12	-25.63	-99.72	-52.88
Financing Cash Flow	122.81	278.22	223.86	286.28	46.48
Foreign Exchange Rate Adjustments	3.14	1.74	0.79	0.75	-0.59
Net Cash Flow	79.66	-46.6	-8.98	-56.72	100.9
Free Cash Flow	-48.7	-324.29	-389.62	-346.18	54.74
Free Cash Flow Margin	-1.33%	-11.05%	-13.44%	-16.23%	2.33%
Free Cash Flow Per Share	-0.10	-0.75	-0.92	-0.80	0.13
Cash Income Tax Paid	23.38	-44.79	40.23	-10.25	30.82
Levered Free Cash Flow	126.47	-178.93	-356.29	-402.73	19.93
Unlevered Free Cash Flow	186.13	-122.47	-310.41	-365.01	51.93
Change in Working Capital	-224.63	-205.63	-147.26	-300.32	1.25

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