SHE:300452 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	129.56	119.42	161.54	130.71	89.25	93.94
Depreciation & Amortization	50.69	50.69	38.78	36.06	34.68	31.76
Other Amortization	0.48	0.48	0.28	0.13	-	-
Loss (Gain) From Sale of Assets	-0.11	-0.11	0.01	0.27	0.12	0.55
Asset Writedown & Restructuring Costs	39.13	39.13	1.02	0.01	8.97	1.31
Loss (Gain) From Sale of Investments	-16.25	-16.25	-19.05	-5.11	-7.83	-4.2
Provision & Write-off of Bad Debts	-0	-0	0.05	-0.04	-0.01	-0.17
Other Operating Activities	80.21	11.95	7.04	-1.13	-2.23	1.17
Change in Accounts Receivable	-96.59	-96.59	-42.25	-98.58	-28.04	-48.23
Change in Inventory	5.34	5.34	-2.91	-13.43	-28.91	-2.31
Change in Accounts Payable	-3.27	-3.27	-15.12	77.63	36.86	11.62
Change in Other Net Operating Assets	0.07	0.07	0.26	0.9	3.84	0.43
Operating Cash Flow	196.72	118.33	132.3	132.82	103.82	85.55
Operating Cash Flow Growth	79.21%	-10.56%	-0.39%	27.93%	21.36%	7.65%
Capital Expenditures	-38.8	-27.94	-54.92	-67.31	-31.47	-21.36
Sale of Property, Plant & Equipment	0.74	0.55	0.1	0.69	0.55	-
Investment in Securities	9	-7	-288.69	-29.31	5	-69
Other Investing Activities	10.13	19.38	10.54	7.73	6.08	3.47
Investing Cash Flow	-18.93	-15.01	-332.98	-88.21	-19.84	-86.89
Short-Term Debt Issued	-	14.85	-	49.8	31.15	49.09
Long-Term Debt Issued	-	32.22	338.88	-	-	-
Total Debt Issued	30.87	47.08	338.88	49.8	31.15	49.09
Short-Term Debt Repaid	-	-	-	-41	-40.1	-20.22
Long-Term Debt Repaid	-	-50.52	-49.57	-	-	-
Total Debt Repaid	-47.76	-50.52	-49.57	-41	-40.1	-20.22
Net Debt Issued (Repaid)	-16.89	-3.44	289.31	8.8	-8.95	28.87
Issuance of Common Stock	-	-	-	-	-	20.08
Repurchase of Common Stock	-22.51	-22.51	-	-	-	-
Common Dividends Paid	-66.96	-59.01	-59.78	-55.33	-46.32	-35.07
Other Financing Activities	22.26	-0.25	-1.36	-1.99	-	-5.12
Financing Cash Flow	-84.09	-85.21	228.17	-48.52	-55.27	8.76
Foreign Exchange Rate Adjustments	1.03	1.22	-0.01	2.56	-0.28	-1
Net Cash Flow	94.72	19.33	27.47	-1.35	28.43	6.42
Free Cash Flow	157.92	90.39	77.38	65.5	72.35	64.19
Free Cash Flow Growth	92.17%	16.82%	18.13%	-9.46%	12.71%	226.94%
Free Cash Flow Margin	16.89%	10.24%	9.22%	9.30%	11.73%	12.08%
Free Cash Flow Per Share	0.66	0.39	0.32	0.28	0.31	0.28
Cash Income Tax Paid	58.06	58.72	15.47	40.46	40.42	38.13
Levered Free Cash Flow	132.24	25.89	53.49	114.88	45.79	41.73
Unlevered Free Cash Flow	140.03	33.85	56.18	115.64	46.54	42.19
Change in Working Capital	-86.99	-86.99	-57.37	-28.09	-19.13	-38.82

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