SHE:300514 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	114.08	198.17	191.59	98.76	57.56	33.64
Depreciation & Amortization	17.73	17.73	19.43	16.6	12.41	11.46
Other Amortization	10.4	10.4	7.06	4.28	4.27	1.76
Loss (Gain) From Sale of Assets	-0.03	-0.03	0.31	-0.1	-	0.08
Asset Writedown & Restructuring Costs	-	-	0.07	5.62	8.47	5.25
Loss (Gain) From Sale of Investments	-7.02	-7.02	-1.37	-1.94	-5.05	-4.45
Provision & Write-off of Bad Debts	0.61	0.61	-7.32	-	-	-
Other Operating Activities	-16.88	4.05	4.51	2.74	1.69	1.25
Change in Accounts Receivable	-9.47	-9.47	141.6	13.56	25.78	126.89
Change in Inventory	48.67	48.67	32.83	5.05	-98.5	50.63
Change in Accounts Payable	90.33	90.33	-16.6	-159.16	191.22	-118.98
Change in Other Net Operating Assets	-4.02	-4.02	-5.55	-	-	-
Operating Cash Flow	244.86	349.87	368.82	-13.5	196.58	107.44
Operating Cash Flow Growth	-32.97%	-5.14%	-	-	82.97%	-15.37%
Capital Expenditures	-45.55	-33.16	-29.78	-59.92	-31.41	-63.39
Sale of Property, Plant & Equipment	0.58	0.41	0	-	-	0.02
Investment in Securities	-120	-120	-190	-65	-60.49	-
Other Investing Activities	-50	-	1.65	0.73	4.84	4.45
Investing Cash Flow	-214.97	-152.75	-218.13	-124.19	-87.06	-58.92
Short-Term Debt Issued	-	-	-	30	-	-
Long-Term Debt Issued	-	-	-	-	-	10
Total Debt Issued	-	-	-	30	-	10
Short-Term Debt Repaid	-	-	-30	-	-45.4	-
Long-Term Debt Repaid	-	-3.7	-2.49	-	-	-45.38
Total Debt Repaid	-3.7	-3.7	-32.49	-	-45.4	-45.38
Net Debt Issued (Repaid)	-3.7	-3.7	-32.49	30	-45.4	-35.38
Common Dividends Paid	-60	-40	-30.71	-21.07	-11.82	-13.11
Other Financing Activities	-1.02	1.99	6.81	31.64	24.8	15.17
Financing Cash Flow	-64.72	-41.71	-56.39	40.56	-32.43	-33.32
Foreign Exchange Rate Adjustments	-0.09	-0.06	0.23	1.47	-0.18	-0.5
Net Cash Flow	-34.92	155.35	94.53	-95.65	76.92	14.7
Free Cash Flow	199.31	316.72	339.04	-73.42	165.18	44.05
Free Cash Flow Growth	-41.54%	-6.58%	-	-	274.99%	51.80%
Free Cash Flow Margin	25.84%	31.35%	30.89%	-7.19%	19.07%	6.68%
Free Cash Flow Per Share	1.00	1.58	1.70	-0.36	0.83	0.22
Cash Income Tax Paid	61.7	65.26	62.02	43.35	3.38	12.11
Levered Free Cash Flow	156.88	261.75	283.51	-114.45	142.79	28.69
Unlevered Free Cash Flow	156.88	261.75	283.77	-113.78	143.96	29.78
Change in Working Capital	125.97	125.97	154.53	-139.46	117.22	58.44

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