SHE:300504 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	-120.14	-26.43	100.7	193.46	180.7	110.18
Depreciation & Amortization	38.79	38.79	42.71	40.63	37.32	32.75
Other Amortization	0.66	0.66	0.03	0.04	0.04	0.05
Loss (Gain) From Sale of Assets	0.05	0.05	0.04	0.31	0.44	0.26
Asset Writedown & Restructuring Costs	31.99	31.99	20.92	0.49	19.04	4.23
Loss (Gain) From Sale of Investments	-6.11	-6.11	-3.48	-2.41	-14.17	-12.73
Provision & Write-off of Bad Debts	-	-	-	4.04	-	-
Other Operating Activities	263.54	7.18	4.93	23.79	-1.43	-4.39
Change in Accounts Receivable	-17.47	-17.47	12.96	-33.36	-17.49	87.12
Change in Inventory	357.92	357.92	137.19	-102.37	-494.08	27.38
Change in Accounts Payable	-329.92	-329.92	-181.06	-89.54	124.91	-41.92
Change in Other Net Operating Assets	12.43	12.43	4.14	20.39	15.44	0.03
Operating Cash Flow	212.49	49.83	142.7	51.17	-152.87	208.4
Operating Cash Flow Growth	33.86%	-65.08%	178.87%	-	-	49.53%
Capital Expenditures	-39.88	-28.21	-68.01	-141.48	-90.87	-51.76
Sale of Property, Plant & Equipment	1.01	0.09	0.22	0.74	-	0.04
Investment in Securities	-349.6	-99.01	-138.57	-10	376.2	-1
Other Investing Activities	4.64	4.5	3.11	2.43	15.9	13.2
Investing Cash Flow	-383.83	-122.62	-203.25	-148.31	301.23	-39.51
Long-Term Debt Repaid	-	-1.56	-2.86	-3.73	-3.02	-
Total Debt Repaid	-1.56	-1.56	-2.86	-3.73	-3.02	-
Net Debt Issued (Repaid)	-1.56	-1.56	-2.86	-3.73	-3.02	-
Issuance of Common Stock	-	-	-	-	40.97	-
Repurchase of Common Stock	-10.19	-10.19	-0.43	-3.67	-	-
Common Dividends Paid	-	-54.49	-53.91	-54.62	-53.66	-53.48
Other Financing Activities	10.18	-	-	-	-	-
Financing Cash Flow	-1.56	-66.23	-57.19	-62.02	-15.71	-53.48
Foreign Exchange Rate Adjustments	-0.32	-6.55	-4.16	-4.09	1.27	0.09
Net Cash Flow	-173.23	-145.57	-121.91	-163.24	133.91	115.5
Free Cash Flow	172.61	21.63	74.69	-90.31	-243.75	156.64
Free Cash Flow Growth	32.30%	-71.04%	-	-	-	86.05%
Free Cash Flow Margin	13.27%	1.22%	2.92%	-3.02%	-10.16%	8.22%
Free Cash Flow Per Share	0.65	0.08	0.27	-0.34	-0.90	0.58
Cash Income Tax Paid	36.69	52.81	84.44	136.55	131.2	110.3
Levered Free Cash Flow	155.72	0.48	54.44	-162.18	-214.11	109.21
Unlevered Free Cash Flow	155.84	0.53	54.46	-162.09	-214	109.21
Change in Working Capital	3.7	3.7	-23.14	-209.18	-374.82	78.04

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