SHE:300385 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	-235.13	-464.33	-46.78	-116.59	121.85
Depreciation & Amortization	55.76	60.86	62.19	61.59	60.5
Other Amortization	6.05	7.03	6.46	8.89	4.4
Loss (Gain) From Sale of Assets	0.01	-0.14	-30.1	-0.02	-104.97
Asset Writedown & Restructuring Costs	14.71	226.29	0.08	103.83	0.33
Loss (Gain) From Sale of Investments	-2.91	-2.91	-1.72	-1.77	-0.27
Provision & Write-off of Bad Debts	-	22.85	28	37.79	28.75
Other Operating Activities	45.29	65.86	46.93	44.04	79.75
Change in Accounts Receivable	288.69	250.83	-130.26	-167.47	-59.72
Change in Inventory	49.04	-129.07	42.1	433.08	107.95
Change in Accounts Payable	-209.16	-35.87	179.73	-445.35	-99.83
Change in Other Net Operating Assets	-	-	-4.64	-4.16	-78.27
Operating Cash Flow	11.3	-5.84	132.69	-57.91	60.27
Operating Cash Flow Growth	-	-	-	-	-43.54%
Capital Expenditures	-3.72	-5.95	-29.53	-8.31	-17.77
Sale of Property, Plant & Equipment	0.31	6.87	25.61	0.11	119.37
Cash Acquisitions	-	-	-106.56	-41.44	-
Investment in Securities	51.71	22.98	-7.36	8	-173
Other Investing Activities	3.24	1.95	0.47	0.97	0.59
Investing Cash Flow	51.53	25.86	-117.36	-40.66	-70.81
Long-Term Debt Issued	626.49	624.5	551.16	756.18	519.78
Total Debt Issued	626.49	624.5	551.16	756.18	519.78
Short-Term Debt Repaid	-	-	-	-50	-
Long-Term Debt Repaid	-664.18	-552.15	-396.83	-570.95	-607.69
Total Debt Repaid	-664.18	-552.15	-396.83	-620.95	-607.69
Net Debt Issued (Repaid)	-37.69	72.35	154.33	135.23	-87.91
Common Dividends Paid	-30.16	-42.89	-49.68	-	-53.23
Other Financing Activities	-16.42	-103.31	-87.72	-19.84	150
Financing Cash Flow	-84.27	-73.86	16.93	115.39	8.85
Foreign Exchange Rate Adjustments	-0.01	0.05	-0.04	-0.36	1.08
Net Cash Flow	-21.45	-53.79	32.22	16.45	-0.61
Free Cash Flow	7.58	-11.79	103.16	-66.22	42.5
Free Cash Flow Growth	-	-	-	-	-42.42%
Free Cash Flow Margin	1.77%	-1.96%	8.15%	-3.68%	2.34%
Free Cash Flow Per Share	0.02	-0.04	0.31	-0.20	0.13
Cash Interest Paid	-	-	-	39.84	-
Cash Income Tax Paid	14.35	39.44	62.67	38.67	41.09
Levered Free Cash Flow	96.25	-28.09	-20.19	61.95	130.74
Unlevered Free Cash Flow	96.25	-1.46	4.81	86.85	164.36
Change in Working Capital	127.53	78.65	67.61	-195.68	-130.07

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