SHE:300515 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	188.69	183.63	143.24	53.74	92.19	86.33
Depreciation & Amortization	18.31	18.31	17.78	15.36	10.99	10.72
Other Amortization	0.49	0.49	-	-	-	-
Loss (Gain) From Sale of Assets	-0	-0	-0.07	0.14	0	0.05
Asset Writedown & Restructuring Costs	0.69	0.69	0.89	0.02	1.8	-0.52
Loss (Gain) From Sale of Investments	-11.07	-11.07	-7.96	-12.42	-10.62	-9.44
Provision & Write-off of Bad Debts	2.72	2.72	1.91	6.8	-	-
Other Operating Activities	3.34	3.62	1.05	86.06	5.08	4.16
Change in Accounts Receivable	-43.51	-43.51	-20.4	-11.83	-24.39	-29.52
Change in Inventory	-69.65	-69.65	19.7	-44.35	-40.76	-23.67
Change in Accounts Payable	127.14	127.14	18.16	57.65	105.47	45.2
Change in Other Net Operating Assets	-	-	-	-	0.28	0.2
Operating Cash Flow	216.45	211.67	174.2	138.77	140.12	82.9
Operating Cash Flow Growth	33.88%	21.51%	25.53%	-0.97%	69.03%	9.23%
Capital Expenditures	-3.29	-4.68	-9.89	-29.99	-40	-62.33
Sale of Property, Plant & Equipment	0	0	0.11	0.1	0.04	0.08
Investment in Securities	-131.19	-152.4	-150.02	-9.36	-45	-18
Other Investing Activities	14.17	6.43	7.98	12.46	10.62	9.43
Investing Cash Flow	-120.3	-150.65	-151.82	-26.79	-74.33	-70.82
Short-Term Debt Repaid	-	-	-	-	-	-5
Total Debt Repaid	-	-	-	-	-	-5
Net Debt Issued (Repaid)	-	-	-	-	-	-5
Repurchase of Common Stock	-	-	-43.02	-0.23	-0.12	-0.01
Common Dividends Paid	-60.6	-60.6	-29.57	-37.56	-35.15	-30.74
Other Financing Activities	2.82	0.78	-2.71	-1.16	-11.1	3
Financing Cash Flow	-57.78	-59.82	-75.3	-38.95	-46.37	-32.76
Foreign Exchange Rate Adjustments	-0.13	0.02	0.17	0.1	0.22	-0.07
Net Cash Flow	38.24	1.23	-52.76	73.13	19.64	-20.75
Free Cash Flow	213.16	206.99	164.31	108.78	100.13	20.56
Free Cash Flow Growth	37.98%	25.97%	51.04%	8.65%	386.88%	-65.37%
Free Cash Flow Margin	31.37%	31.37%	28.50%	23.42%	25.44%	5.35%
Free Cash Flow Per Share	1.06	1.03	0.82	0.53	0.48	0.10
Cash Income Tax Paid	69.73	53.69	42.15	44.03	26.87	24.58
Levered Free Cash Flow	139.16	76.51	115.67	69.29	75.39	-2.64
Unlevered Free Cash Flow	139.16	76.51	115.67	69.3	75.39	-2.62
Change in Working Capital	13.27	13.27	17.37	-10.92	40.68	-8.41

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