SHE:300506 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	-210.18	-130.95	-376.47	-474.91	-537.88	-349.95
Depreciation & Amortization	6.81	6.81	10.61	16.74	17.15	9.55
Other Amortization	0.01	0.01	0.52	0.26	0.49	6.63
Loss (Gain) From Sale of Assets	-0.17	-0.17	-0.83	0.47	-0.4	-0.22
Asset Writedown & Restructuring Costs	4.98	4.98	26.15	7.9	3.57	61.43
Loss (Gain) From Sale of Investments	-19.47	-19.47	6.68	0.41	151.83	10.87
Provision & Write-off of Bad Debts	59.19	59.19	144.39	228.43	169.01	166.41
Other Operating Activities	19.44	31.36	42.74	38.67	39.37	68.85
Change in Accounts Receivable	298.11	298.11	109.22	196.33	409.05	252.37
Change in Inventory	17.54	17.54	-15.98	10.23	-19.13	5.02
Change in Accounts Payable	-247	-247	3.62	-103.71	-273.8	-348.46
Change in Other Net Operating Assets	-14.47	-14.47	-5.18	-3.2	-	-
Operating Cash Flow	-85.2	5.95	22.18	-35.45	-25.09	-172.7
Operating Cash Flow Growth	-	-73.19%	-	-	-	-
Capital Expenditures	-1.05	-0.11	-43.82	-31.62	-82.5	-26
Sale of Property, Plant & Equipment	1.27	1.04	0.02	1.67	1.79	3.74
Divestitures	-	4.89	-	-	96.45	-
Investment in Securities	0.2	0	0.26	0	-0	1.59
Other Investing Activities	34.74	34.28	0.01	0	0	0.48
Investing Cash Flow	35.17	40.09	-43.54	-29.95	15.74	-20.2
Long-Term Debt Issued	-	30.05	111.41	124.2	168.96	665.14
Total Debt Issued	-	30.05	111.41	124.2	168.96	665.14
Long-Term Debt Repaid	-	-44.48	-128.24	-212.1	-504.36	-700.66
Total Debt Repaid	-7.82	-44.48	-128.24	-212.1	-504.36	-700.66
Net Debt Issued (Repaid)	-7.82	-14.43	-16.84	-87.9	-335.4	-35.52
Issuance of Common Stock	-	-	-	-	254.79	-
Common Dividends Paid	-1.36	-5.14	-24.54	-25.91	-39.65	-70.67
Other Financing Activities	100.41	99.5	0.49	-	-8.82	1.05
Financing Cash Flow	91.04	79.94	-40.89	-113.81	-129.08	-105.15
Net Cash Flow	41	125.98	-62.25	-179.21	-138.42	-298.04
Free Cash Flow	-86.25	5.83	-21.64	-67.07	-107.59	-198.7
Free Cash Flow Margin	-70.69%	4.99%	-26.67%	-54.55%	-19.68%	-38.74%
Free Cash Flow Per Share	-0.12	0.01	-0.03	-0.10	-0.15	-0.30
Cash Income Tax Paid	-	-2.74	6.45	3.49	68.94	27.65
Levered Free Cash Flow	-43.79	-6.51	62.97	7.04	126.42	-77.83
Unlevered Free Cash Flow	-22.1	13.22	79.4	25.35	154.2	-50.83
Change in Working Capital	54.18	54.18	168.39	146.6	131.78	-146.25

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