SHE:300283 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	96.5	25.17	-73.67	21.12	30.33	60.33
Depreciation & Amortization	122.55	122.55	104.67	94.5	81.75	70.05
Other Amortization	3.7	3.7	16.34	0.6	0.07	0.42
Loss (Gain) From Sale of Assets	-0.4	-0.4	-0.33	0.42	0.66	-0.07
Asset Writedown & Restructuring Costs	15.99	15.99	9.92	0.8	0.33	-
Loss (Gain) From Sale of Investments	0.36	0.36	0.51	-100.59	-14.6	-16.54
Provision & Write-off of Bad Debts	2.12	2.12	3.62	2.61	2.9	-5.07
Other Operating Activities	78.51	114.15	94.74	100.2	70.64	60.23
Change in Accounts Receivable	-193.5	-193.5	-241.71	-155.72	-110.86	53.66
Change in Inventory	-165.21	-165.21	-96.24	-62.41	-213.55	-108.3
Change in Accounts Payable	129.42	129.42	138.98	80.16	31.67	54.25
Change in Other Net Operating Assets	-	-	-	-	-	0.84
Operating Cash Flow	94.68	59	-49.83	-27.62	-128.25	170.61
Capital Expenditures	-75.44	-107.7	-274.45	-362.01	-217.94	-115.86
Sale of Property, Plant & Equipment	3.41	3.41	0.38	1.56	1.29	1
Divestitures	-	-	-	153	-	-
Investment in Securities	6.77	0.25	-2.47	-0.44	-	0.08
Other Investing Activities	38.53	-1.27	-0.19	1.88	1.15	-0.82
Investing Cash Flow	-26.72	-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)	-64.84	129.55	359.74	295	431.93	137.19
Common Dividends Paid	-54.56	-56.77	-59.41	-45.51	-45.93	-37.83
Other Financing Activities	67.19	50.03	-22.12	-25.63	-99.72	-52.88
Financing Cash Flow	-52.21	122.81	278.22	223.86	286.28	46.48
Foreign Exchange Rate Adjustments	1.25	3.14	1.74	0.79	0.75	-0.59
Net Cash Flow	17	79.66	-46.6	-8.98	-56.72	100.9
Free Cash Flow	19.24	-48.7	-324.29	-389.62	-346.18	54.74
Free Cash Flow Margin	0.44%	-1.33%	-11.05%	-13.44%	-16.23%	2.33%
Free Cash Flow Per Share	0.04	-0.10	-0.75	-0.92	-0.80	0.13
Cash Income Tax Paid	31.83	23.38	-44.79	40.23	-10.25	30.82
Levered Free Cash Flow	192.17	126.47	-178.93	-356.29	-402.73	19.93
Unlevered Free Cash Flow	251.82	186.13	-122.47	-310.41	-365.01	51.93
Change in Working Capital	-224.63	-224.63	-205.63	-147.26	-300.32	1.25

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