SHE:300374 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	-122.79	-120.87	-63.72	-162.73	-260.14	-361.03
Depreciation & Amortization	73.19	73.19	76.69	76.59	82.35	85.32
Other Amortization	0.77	0.77	-	-	-	-
Loss (Gain) From Sale of Assets	-12.53	-12.53	0.03	-0.6	-0.06	-
Asset Writedown & Restructuring Costs	-4.45	-4.45	21.14	20.97	103.27	92.97
Loss (Gain) From Sale of Investments	1.86	1.86	3.42	0.81	5.33	2.9
Other Operating Activities	18.45	39.1	40.99	45.5	44.59	49.6
Change in Accounts Receivable	-344.06	-344.06	-699.54	-272.8	24.12	-21.57
Change in Inventory	0.52	0.52	-12.31	-15.15	9.75	-13.59
Change in Accounts Payable	493.94	493.94	728.12	422.51	91.07	204.6
Change in Other Net Operating Assets	0	0	-0.04	-5.07	-5.27	-9.28
Operating Cash Flow	127.16	149.73	91.63	93.88	46.97	-79.26
Operating Cash Flow Growth	49.64%	63.42%	-2.40%	99.87%	-	-
Capital Expenditures	-3.25	-3.22	-4.94	-13.61	-11.33	-11.58
Sale of Property, Plant & Equipment	17.87	17.94	0.16	4.55	1.63	1.29
Investment in Securities	0.04	0.04	-	-	-	1.01
Investing Cash Flow	14.66	14.76	-4.78	-9.06	-9.7	-9.28
Short-Term Debt Issued	-	1,263	1,872	1,210	1,210	-
Long-Term Debt Issued	-	-	-	-	-	1,220
Total Debt Issued	1,363	1,263	1,872	1,210	1,210	1,220
Short-Term Debt Repaid	-	-1,347	-1,770	-1,255	-1,255	-
Long-Term Debt Repaid	-	-	-	-	-	-1,035
Total Debt Repaid	-1,365	-1,347	-1,770	-1,255	-1,255	-1,035
Net Debt Issued (Repaid)	-2.1	-84.1	102	-45	-45	184.62
Issuance of Common Stock	-	-	-	100.11	-	-
Common Dividends Paid	-40.3	-39.94	-40.27	-45.57	-43.06	-50.83
Other Financing Activities	-12.49	-15.44	-36.52	6.22	47.3	-111.44
Financing Cash Flow	-54.89	-139.47	25.22	15.76	-40.76	22.35
Foreign Exchange Rate Adjustments	-0.94	0.69	0.02	0.01	0.08	-0.65
Net Cash Flow	85.99	25.72	112.09	100.59	-3.4	-66.84
Free Cash Flow	123.91	146.52	86.69	80.27	35.64	-90.85
Free Cash Flow Growth	53.75%	69.01%	8.00%	125.20%	-	-
Free Cash Flow Margin	6.23%	7.63%	4.56%	5.37%	5.62%	-21.51%
Free Cash Flow Per Share	0.50	0.59	0.35	0.33	0.14	-0.37
Cash Income Tax Paid	40.34	39.81	32.23	34.42	-2.01	19.86
Levered Free Cash Flow	138.25	158.9	57.36	111.35	91.93	51.49
Unlevered Free Cash Flow	163.13	183.78	83.04	139.8	119.86	82.09
Change in Working Capital	172.68	172.68	13.08	113.34	71.63	50.97

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