SHE:300377 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	-6.8	-424.68	67.64	61.5	262.79
Depreciation & Amortization	37.45	39.93	45.64	45.32	42.06
Other Amortization	-1.93	5.49	3.95	3.68	1.99
Loss (Gain) From Sale of Assets	0.49	2.71	-8.26	0.04	0.01
Asset Writedown & Restructuring Costs	13.81	9.06	0.02	0.08	-
Loss (Gain) From Sale of Investments	-2.25	363.85	15.65	43.24	-201.36
Provision & Write-off of Bad Debts	-	22.25	27.23	17.83	10.84
Other Operating Activities	15.24	7.42	-0.54	-11.23	-19.11
Change in Accounts Receivable	46.62	134.47	-62.9	-140.6	-101.91
Change in Inventory	-28.63	4.89	-2.06	-31.24	-22.88
Change in Accounts Payable	-10.74	-26.51	14.36	15.63	71.25
Change in Other Net Operating Assets	-	1.69	7.01	14.94	47.81
Operating Cash Flow	60.33	103.32	101.83	10.67	106.13
Operating Cash Flow Growth	-41.60%	1.46%	854.53%	-89.95%	-24.66%
Capital Expenditures	-8.26	-9.15	-26.04	-21.77	-67.03
Sale of Property, Plant & Equipment	37.7	25.54	7.89	2.32	0.04
Investment in Securities	108.5	-269.14	0.65	81.7	-10.99
Other Investing Activities	2.28	-	-	2	0.3
Investing Cash Flow	140.22	-252.75	-17.5	64.25	-77.69
Short-Term Debt Issued	-	-	50	-	-
Total Debt Issued	-	-	50	-	-
Short-Term Debt Repaid	-	-	-50	-	-
Long-Term Debt Repaid	-	-6.21	-11.45	-10.69	-9.76
Total Debt Repaid	-	-6.21	-61.45	-10.69	-9.76
Net Debt Issued (Repaid)	-	-6.21	-11.45	-10.69	-9.76
Repurchase of Common Stock	-	-0.37	-0.49	-2.05	-2.77
Common Dividends Paid	-	-30.04	-75.79	-75.16	-75.24
Other Financing Activities	-4.86	-1.17	-1.54	-0.33	-
Financing Cash Flow	-4.86	-37.79	-89.27	-88.22	-87.76
Net Cash Flow	195.69	-187.22	-4.94	-13.3	-59.32
Free Cash Flow	52.08	94.17	75.79	-11.1	39.1
Free Cash Flow Growth	-44.70%	24.26%	-	-	-66.86%
Free Cash Flow Margin	3.79%	7.02%	4.76%	-0.81%	3.80%
Free Cash Flow Per Share	0.07	0.13	0.10	-0.01	0.05
Cash Income Tax Paid	90.48	90.38	93.22	76.99	54.77
Levered Free Cash Flow	85.63	78.07	34.04	-64.46	-35.27
Unlevered Free Cash Flow	85.63	78.91	35.53	-63.24	-34.98
Change in Working Capital	4.32	77.28	-49.5	-149.8	8.91

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