SHE:300516 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	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	32.57	30.98	82.92	82.1	78.09	68.14	Upgrade
Depreciation & Amortization	29.62	29.62	29.31	30.69	31.04	30.47	Upgrade
Other Amortization	2	2	1.98	2.53	2.95	0.3	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-0	-	-	Upgrade
Asset Writedown & Restructuring Costs	0.02	0.02	0.03	0.11	22.64	11.43	Upgrade
Loss (Gain) From Sale of Investments	-	-	-	-	-	-1.97	Upgrade
Provision & Write-off of Bad Debts	27.18	27.18	11.72	-	-	-	Upgrade
Other Operating Activities	-32.29	10.85	22.61	33.19	0.19	-0.18	Upgrade
Change in Accounts Receivable	42.15	42.15	-328.68	-131.22	-184.62	-46.32	Upgrade
Change in Inventory	20.8	20.8	-49.03	27.85	-27.92	-21.53	Upgrade
Change in Accounts Payable	-18.35	-18.35	171.53	-72.94	35.61	234.6	Upgrade
Change in Other Net Operating Assets	3.38	3.38	3.2	-	-	-	Upgrade
Operating Cash Flow	99.6	141.15	-59.56	-30.91	-44.95	273.26	Upgrade
Operating Cash Flow Growth	-9.00%	-	-	-	-	207.08%	Upgrade
Capital Expenditures	-15.14	-19.86	-19.65	-17.23	-41.88	-18.99	Upgrade
Sale of Property, Plant & Equipment	-	0	0	0	0	-	Upgrade
Other Investing Activities	-100	-	-	-	-	1.97	Upgrade
Investing Cash Flow	-115.14	-19.86	-19.64	-17.23	-41.88	-17.01	Upgrade
Long-Term Debt Repaid	-	-0.3	-0.41	-	-	-	Upgrade
Net Debt Issued (Repaid)	-0.3	-0.3	-0.41	-	-	-	Upgrade
Common Dividends Paid	-12.42	-63.36	-22.5	-21.42	-18.54	-12.6	Upgrade
Other Financing Activities	0	-	-	-	-	-0	Upgrade
Financing Cash Flow	-12.72	-63.66	-22.91	-21.42	-18.54	-12.6	Upgrade
Foreign Exchange Rate Adjustments	0.01	-0.01	0.01	0	-0.19	0.18	Upgrade
Net Cash Flow	-28.25	57.62	-102.1	-69.55	-105.56	243.82	Upgrade
Free Cash Flow	84.46	121.28	-79.2	-48.14	-86.83	254.27	Upgrade
Free Cash Flow Growth	-10.04%	-	-	-	-	674.87%	Upgrade
Free Cash Flow Margin	13.74%	22.70%	-10.29%	-6.47%	-11.91%	35.18%	Upgrade
Free Cash Flow Per Share	0.47	0.67	-0.44	-0.27	-0.48	1.41	Upgrade
Cash Income Tax Paid	23.92	16.51	25.53	18.9	34.62	46.79	Upgrade
Levered Free Cash Flow	58.68	115.01	-113.16	-85.75	-125.9	232.92	Upgrade
Unlevered Free Cash Flow	58.69	115.03	-113.13	-85.75	-125.9	232.92	Upgrade
Change in Working Capital	40.49	40.49	-208.13	-179.53	-179.87	165.08	Upgrade

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