SHE:300294 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	327.25	396.99	237.47	432.2	344.53	260.06
Depreciation & Amortization	100.87	100.87	98.57	97.03	99.35	81.34
Other Amortization	16.09	16.09	15.39	13.74	13.63	13.26
Loss (Gain) From Sale of Assets	0.61	0.61	-1.3	-0.07	0.87	1.58
Asset Writedown & Restructuring Costs	83.8	83.8	326.72	53.65	80.57	0.27
Loss (Gain) From Sale of Investments	-78.64	-78.64	-99.75	-43.84	-43.11	-10.14
Provision & Write-off of Bad Debts	8.79	8.79	2.37	2.8	0.05	-9.29
Other Operating Activities	-170.09	-3.53	14.46	13.92	31.26	38.39
Change in Accounts Receivable	-211.49	-211.49	40.02	-11.73	799.83	390.43
Change in Inventory	-120.06	-120.06	107.01	1.28	11.77	-68.54
Change in Accounts Payable	116.59	116.59	-92.32	56.24	4.14	15.9
Change in Unearned Revenue	-4.01	-4.01	-3.57	-4.13	-1.46	-
Change in Other Net Operating Assets	-	-	-	3.28	11.59	-
Operating Cash Flow	63.48	299.78	641.73	596.44	1,345	718.58
Operating Cash Flow Growth	-83.23%	-53.29%	7.59%	-55.67%	87.23%	-
Capital Expenditures	-491.36	-197.79	-87.5	-138.41	-68.12	-142.51
Sale of Property, Plant & Equipment	2.63	1.82	3.26	0.33	4.41	1.66
Cash Acquisitions	-1,778	-1,778	-	-	-	-
Divestitures	288.34	239.61	269	-	-	-
Investment in Securities	760.57	975.51	-248.85	-500	-2,505	7.02
Other Investing Activities	260.02	111.26	78.33	77.86	32.4	5.5
Investing Cash Flow	-957.73	-647.53	14.25	-560.22	-2,536	-128.34
Long-Term Debt Issued	-	-	22.15	-	251.85	820
Long-Term Debt Repaid	-	-76.3	-24.98	-3.82	-563.55	-1,113
Net Debt Issued (Repaid)	-52.99	-76.3	-2.83	-3.82	-311.7	-292.56
Issuance of Common Stock	1	-	-	-	2,400	-
Common Dividends Paid	-237.45	-232.41	-100.85	-83.19	-46.03	-88.81
Other Financing Activities	-42.93	5.24	-132.97	2	-9.64	-9.09
Financing Cash Flow	-332.37	-303.47	-236.65	-85.01	2,032	-390.46
Net Cash Flow	-1,227	-651.23	419.33	-48.79	841.39	199.78
Free Cash Flow	-427.87	101.99	554.23	458.03	1,277	576.07
Free Cash Flow Growth	-	-81.60%	21.00%	-64.14%	121.72%	-
Free Cash Flow Margin	-21.79%	5.88%	20.90%	16.60%	48.19%	22.92%
Free Cash Flow Per Share	-0.85	0.20	1.10	0.91	2.93	1.35
Cash Income Tax Paid	206.4	167.06	250.39	227.94	192.85	190.04
Levered Free Cash Flow	-493.85	16.4	376.4	354.85	1,141	449.92
Unlevered Free Cash Flow	-493.1	16.82	376.68	355.24	1,148	463.33
Change in Working Capital	-225.2	-225.2	47.79	27.01	818.22	343.11

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.