SHE:300287 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	-158.12	-157.05	-207.23	-281.7	-468.79	-252.23
Depreciation & Amortization	57.24	57.24	50.57	50.99	48.2	58.09
Other Amortization	0.3	0.3	1.97	1.96	2.76	4.38
Loss (Gain) From Sale of Assets	-0.2	-0.2	0	-0.72	39.52	0.51
Asset Writedown & Restructuring Costs	36.41	36.41	6.65	45.61	8.65	17.91
Loss (Gain) From Sale of Investments	5.27	5.27	1.15	27.86	-6.11	-27.78
Provision & Write-off of Bad Debts	-	-	47.99	-16.01	156.11	123.59
Other Operating Activities	33.37	-11.48	12.62	9.24	29.31	21.97
Change in Accounts Receivable	269.98	269.98	282.36	355.45	-65.43	17.99
Change in Inventory	58.19	58.19	127.71	-75.41	90.18	-41.45
Change in Accounts Payable	-287.08	-287.08	-335.24	-61.93	30.72	67.11
Operating Cash Flow	21.44	-22.33	-15.46	50.95	-17.37	-32.86
Operating Cash Flow Growth	66.75%	-	-	-	-	-
Capital Expenditures	-1.87	-4.39	-6.79	-49.41	-89.19	-162.42
Sale of Property, Plant & Equipment	0.01	0.03	0.01	23.26	42.12	168
Divestitures	-	-	-	-	-0.01	28.53
Investment in Securities	-	-	-	4	28.12	8.53
Investing Cash Flow	-1.86	-4.37	-6.78	-22.15	-18.96	42.65
Long-Term Debt Issued	-	32.84	73.43	33.23	28.7	13.91
Total Debt Issued	29.57	32.84	73.43	33.23	28.7	13.91
Long-Term Debt Repaid	-	-28.53	-85.74	-44.82	-34.09	-90.85
Total Debt Repaid	-24.84	-28.53	-85.74	-44.82	-34.09	-90.85
Net Debt Issued (Repaid)	4.73	4.31	-12.31	-11.59	-5.39	-76.94
Common Dividends Paid	-0.57	-0.63	-0.98	-1.12	-1	-1.04
Other Financing Activities	-7.03	-7.21	-	-	-	-8.53
Financing Cash Flow	-2.87	-3.53	-13.29	-12.71	-6.39	-86.52
Foreign Exchange Rate Adjustments	0.08	0.06	-0.03	0.03	-0.03	-0
Net Cash Flow	16.78	-30.18	-35.55	16.13	-42.75	-76.72
Free Cash Flow	19.57	-26.73	-22.25	1.54	-106.56	-195.27
Free Cash Flow Margin	6.41%	-7.68%	-3.80%	0.19%	-9.32%	-11.42%
Free Cash Flow Per Share	0.01	-0.02	-0.01	0.00	-0.07	-0.14
Cash Income Tax Paid	8.05	6.19	5.75	12.21	-4.3	16.89
Levered Free Cash Flow	45.68	35.13	96.34	117.73	33.52	-102.17
Unlevered Free Cash Flow	45.68	35.13	97.45	118.43	34.66	-100.19
Change in Working Capital	47.18	47.18	70.82	213.72	172.98	20.72

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