SHE:300474 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	-261.53	-165.12	59.68	288.96	292.74	207.63
Depreciation & Amortization	60.1	60.1	74.72	57.65	43.84	25.48
Other Amortization	22.1	22.1	6.03	3.39	0.9	0.59
Loss (Gain) From Sale of Assets	-0.57	-0.57	-4.25	-	-0	-
Asset Writedown & Restructuring Costs	0.39	0.39	0.12	0.05	1.26	-
Loss (Gain) From Sale of Investments	6.11	6.11	-9.58	-2.66	-0.65	0.01
Provision & Write-off of Bad Debts	40.95	40.95	3.9	23.13	4.15	-5.6
Other Operating Activities	-19.56	42.11	56.2	29.37	9.66	18.81
Change in Accounts Receivable	255.78	255.78	157.97	-546.97	-49.13	-143.83
Change in Inventory	-62.26	-62.26	-76.54	-146.92	-169.54	-123.8
Change in Accounts Payable	-64.8	-64.8	89.59	-27.03	65.95	139.47
Change in Other Net Operating Assets	1.46	1.46	-33.03	49.53	50.72	1.4
Operating Cash Flow	-95.91	62.17	263.53	-296.53	232.84	110.17
Operating Cash Flow Growth	-	-76.41%	-	-	111.34%	26.70%
Capital Expenditures	-71.71	-210.16	-86.25	-124.29	-199.12	-132.66
Sale of Property, Plant & Equipment	3.97	3.98	4.65	-	0	-
Investment in Securities	-415.11	-341.8	-26.42	-152.25	30	-122.95
Other Investing Activities	-199.89	-	-	-	2.73	0.55
Investing Cash Flow	-682.74	-547.97	-108.02	-276.54	-166.39	-255.06
Long-Term Debt Issued	-	-	-	200	-	100
Long-Term Debt Repaid	-	-156.98	-7.31	-2.09	-102.64	-
Net Debt Issued (Repaid)	-52.18	-156.98	-7.31	197.91	-102.64	100
Issuance of Common Stock	4,129	3,877	147.14	122.39	-	-
Repurchase of Common Stock	-	-	-	-	-0.27	-0.56
Common Dividends Paid	-33.06	-57.82	-60.4	-60.63	-43.38	-36.59
Other Financing Activities	-0.41	-2.19	-0.03	-0.18	-1.02	-
Financing Cash Flow	4,043	3,660	79.4	259.48	-147.31	62.85
Foreign Exchange Rate Adjustments	-	-	-	-	-	0.03
Net Cash Flow	3,264	3,174	234.9	-313.59	-80.86	-82.01
Free Cash Flow	-167.61	-147.98	177.27	-420.82	33.72	-22.48
Free Cash Flow Margin	-32.24%	-31.73%	24.85%	-36.47%	3.08%	-3.44%
Free Cash Flow Per Share	-0.33	-0.31	0.39	-0.92	0.07	-0.05
Cash Income Tax Paid	56.15	13.71	51.93	87.57	68.78	43.17
Levered Free Cash Flow	-514.77	-115.05	163.15	-559.04	-180.38	-109.62
Unlevered Free Cash Flow	-513.38	-112.26	168.47	-553.65	-177.83	-109.26
Change in Working Capital	56.1	56.1	76.69	-696.41	-119.06	-136.74

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