SHE:300303 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	339.62	230.05	188.14	271.65
Depreciation & Amortization	118.46	118.71	113.31	106.95
Other Amortization	14.6	10.56	12.45	7.9
Loss (Gain) From Sale of Assets	0.14	-0.17	3.07	-5.27
Asset Writedown & Restructuring Costs	8.3	29.08	7.93	0.67
Loss (Gain) From Sale of Investments	-62.41	-45.16	-22.65	-54.45
Provision & Write-off of Bad Debts	22.36	11.42	16.67	-2.28
Other Operating Activities	63.93	68.45	68.44	68.58
Change in Accounts Receivable	-526.25	-282.43	73.07	235.97
Change in Inventory	-121.78	11.53	-32.74	-13.08
Change in Accounts Payable	466.44	121.76	-67.83	-48.58
Operating Cash Flow	320.84	266.12	354.14	571.36
Operating Cash Flow Growth	20.56%	-24.86%	-38.02%	132.36%
Capital Expenditures	-232.61	-106.17	-216.27	-237.2
Sale of Property, Plant & Equipment	2.89	1.22	6.32	13.79
Investment in Securities	265.1	-29.73	-90.33	-201.25
Other Investing Activities	80.74	56.9	-	19.37
Investing Cash Flow	116.12	-77.78	-300.29	-405.28
Short-Term Debt Issued	60	310	190	140
Total Debt Issued	60	310	190	140
Short-Term Debt Repaid	-280.84	-150.01	-210	-157.59
Total Debt Repaid	-280.84	-150.01	-210	-157.59
Net Debt Issued (Repaid)	-220.84	159.99	-20	-17.59
Issuance of Common Stock	22.22	-	-	-
Repurchase of Common Stock	-	-	-47.28	-67.05
Common Dividends Paid	-141.18	-139.8	-141.6	-133.44
Financing Cash Flow	-339.8	20.19	-208.88	-218.08
Foreign Exchange Rate Adjustments	0.14	0.11	0.81	-0.23
Net Cash Flow	97.29	208.63	-154.22	-52.24
Free Cash Flow	88.23	159.94	137.86	334.16
Free Cash Flow Growth	-44.84%	16.01%	-58.74%	159.22%
Free Cash Flow Margin	2.89%	6.37%	6.09%	14.09%
Free Cash Flow Per Share	0.07	0.12	0.10	0.26
Cash Income Tax Paid	61.2	67.72	9.98	30.6
Levered Free Cash Flow	139.19	-6.22	79.9	154.48
Unlevered Free Cash Flow	151.21	11.15	97.83	176.96
Change in Working Capital	-184.16	-156.81	-33.24	177.61

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.