SHE:300388 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	362.8	366.67	392.35	404.94	366.71	331.49
Depreciation & Amortization	473.77	473.77	456.51	456.38	448.11	172.7
Other Amortization	13.22	13.22	21.72	43.71	69.86	47.92
Loss (Gain) From Sale of Assets	-8.86	-8.86	-2.75	-96.88	-10.22	-
Asset Writedown & Restructuring Costs	23.57	23.57	0.08	13.93	17.43	28.66
Loss (Gain) From Sale of Investments	27.22	27.22	-14.69	-25.55	-49.7	-19.39
Provision & Write-off of Bad Debts	99.87	99.87	92.71	11.73	26.34	30.86
Other Operating Activities	370.95	278.51	317.38	327.74	377.13	382.47
Change in Accounts Receivable	-532.91	-532.91	-397.97	-413.37	-540.51	-23.59
Change in Inventory	10.06	10.06	11.89	102.47	33.81	680.26
Change in Accounts Payable	81.39	81.39	-424.44	-271.2	113.93	-764.06
Change in Other Net Operating Assets	-65.54	-65.54	-14.13	59.59	79.8	-
Operating Cash Flow	833.17	744.59	418.73	630.19	928	868.3
Operating Cash Flow Growth	56.03%	77.82%	-33.55%	-32.09%	6.88%	7.62%
Capital Expenditures	-887.84	-685.39	-747.25	-641.91	-524.15	-1,059
Sale of Property, Plant & Equipment	1.12	169.89	152.3	152.13	28.47	0.21
Divestitures	-	-	-	117	13.51	1.6
Investment in Securities	-1.8	-7.98	-36.8	-13.2	-96.8	-112.62
Other Investing Activities	0.9	0.4	6.57	-	2.6	15.94
Investing Cash Flow	-887.62	-523.09	-625.18	-385.97	-576.37	-1,154
Long-Term Debt Issued	-	3,742	3,323	6,081	2,743	2,810
Long-Term Debt Repaid	-	-3,818	-3,069	-6,023	-2,562	-2,046
Net Debt Issued (Repaid)	94.31	-75.84	253.62	58.36	180.92	763.6
Repurchase of Common Stock	-	-	-	-	-128.7	-22.3
Common Dividends Paid	-330.5	-339.51	-391.05	-399.15	-427.86	-436.52
Other Financing Activities	-1.34	269.09	-18.07	-79.78	-	-29.52
Financing Cash Flow	-237.53	-146.26	-155.5	-420.56	-375.63	275.25
Foreign Exchange Rate Adjustments	-8.69	-3	-3.13	1.09	-0.42	-1
Net Cash Flow	-300.67	72.24	-365.09	-175.26	-24.43	-11.77
Free Cash Flow	-54.67	59.2	-328.52	-11.72	403.85	-191.15
Free Cash Flow Margin	-1.51%	1.54%	-7.96%	-0.29%	9.02%	-4.94%
Free Cash Flow Per Share	-0.08	0.09	-0.48	-0.02	0.58	-0.28
Cash Interest Paid	-	-	-	-	-	2.12
Cash Income Tax Paid	201.3	172.43	170.61	108.22	169.99	222.21
Levered Free Cash Flow	-725.29	-630.86	-196.61	-708.49	154.73	-1,206
Unlevered Free Cash Flow	-577.13	-474.15	-19.4	-519.58	363.35	-988.24
Change in Working Capital	-529.38	-529.38	-844.58	-505.81	-317.65	-106.42

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.