SHE:300314 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	66.57	57.26	147.61	97.36	80.21	136.19
Depreciation & Amortization	26.08	26.08	27.32	25.51	24.55	21.49
Other Amortization	4.21	4.21	0.09	-	-	-
Loss (Gain) From Sale of Assets	0.01	0.01	0.23	-0.02	-0.12	-0
Asset Writedown & Restructuring Costs	0.53	0.53	1.61	-0.88	1.95	-0.03
Loss (Gain) From Sale of Investments	10.06	10.06	-11.59	5.78	-15.99	-46.72
Provision & Write-off of Bad Debts	0.23	0.23	0.5	1.22	-	-
Other Operating Activities	-4.77	3.77	-4.6	-16.17	2.89	3.3
Change in Accounts Receivable	-2.03	-2.03	-9.05	-5.6	-3.14	-1.71
Change in Inventory	-31.05	-31.05	-12.27	-11.4	-35.31	-13.54
Change in Accounts Payable	26.78	26.78	-4.04	14.66	-3.16	38.83
Operating Cash Flow	94.64	93.87	135.2	111.57	51.48	137.73
Operating Cash Flow Growth	19.35%	-30.57%	21.18%	116.72%	-62.62%	55.50%
Capital Expenditures	-79.4	-139.69	-40.39	-49.78	-6.53	-24.2
Sale of Property, Plant & Equipment	0.11	0.05	0.59	0.02	0.28	0.11
Investment in Securities	-110	-130	107.5	-2.5	93.5	-107.52
Other Investing Activities	264.95	7.03	4.06	11.41	19.44	-
Investing Cash Flow	75.66	-262.61	71.76	-40.85	106.69	-131.62
Long-Term Debt Repaid	-	-5.02	-2.51	-4.08	-0.47	-
Net Debt Issued (Repaid)	-5.02	-5.02	-2.51	-4.08	-0.47	-
Common Dividends Paid	-25.06	-51.84	-43.2	-28.8	-43.2	-11.52
Financing Cash Flow	-28.23	-56.86	-45.71	-32.88	-43.67	-11.52
Foreign Exchange Rate Adjustments	-0.68	-0.29	6.33	17.05	-2.87	-2.84
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-24.54
Net Cash Flow	141.39	-225.9	167.58	54.89	111.63	-32.79
Free Cash Flow	15.24	-45.82	94.81	61.79	44.95	113.53
Free Cash Flow Growth	-	-	53.43%	37.48%	-60.41%	42.82%
Free Cash Flow Margin	2.95%	-8.70%	15.33%	12.21%	9.48%	24.70%
Free Cash Flow Per Share	0.05	-0.16	0.33	0.22	0.16	0.39
Cash Income Tax Paid	18.53	22.12	56.96	34.82	33.17	40.68
Levered Free Cash Flow	29.96	-60.39	65.56	25.76	18.97	75.42
Unlevered Free Cash Flow	30.22	-60.09	65.93	25.97	18.99	75.42
Change in Working Capital	-8.28	-8.28	-25.97	-1.23	-42.02	23.51

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