SHE:300370 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-113.25	-94.18	-199.77	-412.07	-866.35
Depreciation & Amortization	32	23.56	31.21	35.43	38.5
Other Amortization	2.78	10.67	2.21	1.66	1.47
Loss (Gain) From Sale of Assets	-0.44	-0.47	-3.32	-1.32	2.61
Asset Writedown & Restructuring Costs	11.86	4.81	21.37	342	299.65
Loss (Gain) From Sale of Investments	-12.38	11.05	51.99	-320.69	40.49
Provision & Write-off of Bad Debts	-	0.82	6.14	63.85	60.82
Other Operating Activities	18.84	41.13	38.29	166.1	232.94
Change in Accounts Receivable	48.02	71.14	-39.05	102.41	67.06
Change in Inventory	6.65	10.33	28.2	32.92	58.7
Change in Accounts Payable	12.4	-75.98	-41.32	5.98	77.74
Change in Other Net Operating Assets	0.16	-0.16	-	-	-
Operating Cash Flow	34.9	2.27	-104.75	21.3	5.98
Operating Cash Flow Growth	1438.67%	-	-	256.34%	-
Capital Expenditures	-19.43	-30.51	-132.95	-55.6	-42.9
Sale of Property, Plant & Equipment	2.82	1.2	0.18	0.04	1.2
Cash Acquisitions	-	-8.76	-	-0.12	-
Divestitures	-	-	31.47	-	0.01
Investment in Securities	-3	-0.63	-	-	0.37
Other Investing Activities	-1.46	19.82	0.72	0.06	5.48
Investing Cash Flow	-21.08	-18.87	-100.58	-55.62	-35.83
Short-Term Debt Issued	-	-	-	10.67	-
Long-Term Debt Issued	251.7	172.9	450.36	49.19	291.11
Total Debt Issued	251.7	172.9	450.36	59.85	291.11
Long-Term Debt Repaid	-264.06	-80.34	-410.88	-104.74	-224.07
Net Debt Issued (Repaid)	-12.36	92.56	39.48	-44.89	67.04
Issuance of Common Stock	4.13	45.03	47.67	230.59	-
Repurchase of Common Stock	-	-	-	-0.1	-
Common Dividends Paid	-23.88	-25.75	-13.76	-4.68	-32.93
Other Financing Activities	11.86	-6.04	-5.38	-23.31	0.08
Financing Cash Flow	-20.26	105.8	68.01	157.61	34.19
Foreign Exchange Rate Adjustments	-0.01	-0	0	0.02	-0.02
Net Cash Flow	-6.44	89.2	-137.32	123.3	4.31
Free Cash Flow	15.47	-28.24	-237.7	-34.3	-36.93
Free Cash Flow Margin	3.76%	-7.10%	-50.30%	-7.43%	-6.60%
Free Cash Flow Per Share	0.01	-0.02	-0.15	-0.02	-0.04
Cash Income Tax Paid	17.05	8.64	14.43	4.77	24.46
Levered Free Cash Flow	24	-47.11	-439.67	-255.24	322.41
Unlevered Free Cash Flow	24	-30.48	-418.46	-161.56	450.09
Change in Working Capital	95.49	4.88	-52.88	146.35	195.85

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