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 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	Dec '21 Dec 31, 2021
Net Income	173.06	173.17	119.42	161.54	130.71	89.25
Depreciation & Amortization	53.41	53.41	50.69	38.78	36.06	34.68
Other Amortization	1.01	1.01	0.48	0.28	0.13	-
Loss (Gain) From Sale of Assets	0.96	0.96	-0.11	0.01	0.27	0.12
Asset Writedown & Restructuring Costs	-5.72	-5.72	39.13	1.02	0.01	8.97
Loss (Gain) From Sale of Investments	-13.44	-13.44	-16.25	-19.05	-5.11	-7.83
Provision & Write-off of Bad Debts	-	-	-0	0.05	-0.04	-0.01
Other Operating Activities	35.25	14.25	11.95	7.04	-1.13	-2.23
Change in Accounts Receivable	-53.12	-53.12	-96.59	-42.25	-98.58	-28.04
Change in Inventory	-3.56	-3.56	5.34	-2.91	-13.43	-28.91
Change in Accounts Payable	30.91	30.91	-3.27	-15.12	77.63	36.86
Change in Other Net Operating Assets	0.28	0.28	0.07	0.26	0.9	3.84
Operating Cash Flow	212.87	191.99	118.33	132.3	132.82	103.82
Operating Cash Flow Growth	74.27%	62.25%	-10.56%	-0.39%	27.93%	21.36%
Capital Expenditures	-43.61	-40.73	-27.94	-54.92	-67.31	-31.47
Sale of Property, Plant & Equipment	0.14	0.47	0.55	0.1	0.69	0.55
Investment in Securities	-80	-	-7	-288.69	-29.31	5
Other Investing Activities	15.46	13.44	19.38	10.54	7.73	6.08
Investing Cash Flow	-108.01	-26.82	-15.01	-332.98	-88.21	-19.84
Short-Term Debt Issued	-	-	14.85	-	49.8	31.15
Long-Term Debt Issued	-	15.02	32.22	338.88	-	-
Total Debt Issued	14.01	15.02	47.08	338.88	49.8	31.15
Short-Term Debt Repaid	-	-	-	-	-41	-40.1
Long-Term Debt Repaid	-	-16.24	-50.52	-49.57	-	-
Total Debt Repaid	-9.01	-16.24	-50.52	-49.57	-41	-40.1
Net Debt Issued (Repaid)	5	-1.22	-3.44	289.31	8.8	-8.95
Repurchase of Common Stock	-	-	-22.51	-	-	-
Common Dividends Paid	-71.41	-71.43	-59.01	-59.78	-55.33	-46.32
Other Financing Activities	3.46	3.46	-0.25	-1.36	-1.99	-
Financing Cash Flow	-62.95	-69.19	-85.21	228.17	-48.52	-55.27
Foreign Exchange Rate Adjustments	-1.95	-0.57	1.22	-0.01	2.56	-0.28
Net Cash Flow	39.97	95.4	19.33	27.47	-1.35	28.43
Free Cash Flow	169.27	151.26	90.39	77.38	65.5	72.35
Free Cash Flow Growth	87.63%	67.34%	16.82%	18.13%	-9.46%	12.71%
Free Cash Flow Margin	17.70%	16.04%	10.24%	9.22%	9.30%	11.73%
Free Cash Flow Per Share	0.70	0.63	0.39	0.32	0.28	0.31
Cash Income Tax Paid	64.41	59.57	58.72	15.47	40.46	40.42
Levered Free Cash Flow	175.04	163.08	25.89	53.49	114.88	45.79
Unlevered Free Cash Flow	175.04	163.08	33.85	56.18	115.64	46.54
Change in Working Capital	-31.66	-31.66	-86.99	-57.37	-28.09	-19.13

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