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

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