SHE:300499 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	27.66	-50.32	-31.83	286.72	64.55
Depreciation & Amortization	31.32	26.45	24.21	61.92	44.93
Other Amortization	10.38	9.98	6.67	12.97	10.52
Loss (Gain) From Sale of Assets	-0.1	2.28	-0.13	-0.51	0.62
Asset Writedown & Restructuring Costs	7.06	4.43	0.81	8.21	-11.47
Loss (Gain) From Sale of Investments	-35.43	-23.49	-17.71	-360.02	-0.15
Provision & Write-off of Bad Debts	-	1.84	0.16	-	-
Other Operating Activities	10.79	5.93	6.82	76.66	70.5
Change in Accounts Receivable	-72.87	-108.69	128.02	-31.98	-258.29
Change in Inventory	-187.89	-61.66	39.94	-247.44	-55.11
Change in Accounts Payable	285.04	123.33	-91.07	235.48	158.22
Change in Other Net Operating Assets	-	2.84	6.24	-52.84	-9.6
Operating Cash Flow	110.86	-68.24	49.36	-16.99	12.06
Capital Expenditures	-25.8	-52.81	-23.98	-99.56	-64.39
Sale of Property, Plant & Equipment	1.16	0.94	0.16	0.97	0.35
Divestitures	-	-	-	306.46	-
Investment in Securities	80	-14.5	-30.3	-100.5	-7.93
Other Investing Activities	14.23	2.13	-	-	0.41
Investing Cash Flow	69.59	-64.24	-54.12	107.36	-71.55
Short-Term Debt Issued	-	-	-	-	25
Long-Term Debt Issued	6	1.17	-	251.39	169.82
Total Debt Issued	6	1.17	-	251.39	194.82
Short-Term Debt Repaid	-	-	-0.16	-25	-
Long-Term Debt Repaid	-6	-28.8	-158.86	-166.25	-263.98
Total Debt Repaid	-6	-28.8	-159.02	-191.25	-263.98
Net Debt Issued (Repaid)	-	-27.63	-159.02	60.15	-69.16
Repurchase of Common Stock	-	-	-	-5	-25.64
Common Dividends Paid	-	-0.88	-41.33	-9.71	-12.1
Other Financing Activities	-5.92	-	-3.41	145.02	4.51
Financing Cash Flow	-5.92	-28.51	-203.75	190.45	-102.4
Foreign Exchange Rate Adjustments	0.12	-0.19	0.4	0.43	-1.01
Net Cash Flow	174.64	-161.18	-208.11	281.25	-162.9
Free Cash Flow	85.05	-121.05	25.38	-116.56	-52.33
Free Cash Flow Margin	8.60%	-17.51%	4.43%	-6.12%	-3.12%
Free Cash Flow Per Share	0.27	-0.39	0.08	-0.41	-0.17
Cash Income Tax Paid	33.86	47.38	53.57	79.23	69.64
Levered Free Cash Flow	65	-131.34	20.5	220.31	8.87
Unlevered Free Cash Flow	65	-131.01	22.88	242.27	31.75
Change in Working Capital	59.18	-45.33	60.34	-102.94	-167.42

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