SHE:300517 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	-3.05	23	6.05	51.98	91.06	51.9
Depreciation & Amortization	25.14	25.14	28.45	27.13	25.93	23.2
Other Amortization	2.5	2.5	1.03	0.63	-	-
Loss (Gain) From Sale of Assets	0.34	0.34	-0.08	-0.82	1.69	-0.05
Asset Writedown & Restructuring Costs	0.02	0.02	0.07	0.48	1.8	-
Loss (Gain) From Sale of Investments	-0.74	-0.74	-0.38	-	-	-
Provision & Write-off of Bad Debts	-5.4	-5.4	25.75	17.6	51.17	13.95
Other Operating Activities	80.71	9.51	7.73	11.22	14.51	1.6
Change in Accounts Receivable	139.82	139.82	31.5	25.61	-575.38	-23.39
Change in Inventory	7.28	7.28	12.16	29.77	285.27	-110.28
Change in Accounts Payable	-70.94	-70.94	-136.9	-159.7	11.93	56.47
Change in Other Net Operating Assets	-	-	-	1.72	4.28	0
Operating Cash Flow	176.23	131.08	-28.33	5.43	-97.88	12.46
Operating Cash Flow Growth	89.56%	-	-	-	-	-90.25%
Capital Expenditures	-3.71	-4.07	-1.23	-8.8	-10.4	-30.46
Sale of Property, Plant & Equipment	0.03	0.1	0.17	0.82	0.38	0.11
Investment in Securities	-248.12	-57.1	-	-	-	-
Other Investing Activities	88.94	1.19	0.38	-	-	-
Investing Cash Flow	-162.85	-59.88	-0.68	-7.98	-10.02	-30.35
Short-Term Debt Issued	-	11.5	68.51	-	30	40
Total Debt Issued	10.5	11.5	68.51	-	30	40
Short-Term Debt Repaid	-	-	-20	-30	-40	-10
Long-Term Debt Repaid	-	-0.57	-0.43	-0.3	-0.05	-
Total Debt Repaid	-1.57	-0.57	-20.43	-30.3	-40.05	-10
Net Debt Issued (Repaid)	8.93	10.93	48.08	-30.3	-10.05	30
Issuance of Common Stock	-	-	-	-	-	245
Repurchase of Common Stock	-20.01	-20.01	-	-	-	-
Common Dividends Paid	-27.05	-7.33	-8.97	-12.05	-8.16	-3.56
Other Financing Activities	19.13	-	-26.02	6.37	-79.07	-25.78
Financing Cash Flow	-19.01	-16.41	13.09	-35.97	-97.29	245.66
Net Cash Flow	-5.63	54.78	-15.92	-38.51	-205.19	227.76
Free Cash Flow	172.52	127.01	-29.56	-3.36	-108.28	-18
Free Cash Flow Growth	87.64%	-	-	-	-	-
Free Cash Flow Margin	57.23%	30.27%	-7.12%	-0.53%	-9.69%	-2.10%
Free Cash Flow Per Share	0.86	0.66	-0.15	-0.02	-0.54	-0.09
Cash Income Tax Paid	10.68	18.44	32.7	37.81	52.37	24.2
Levered Free Cash Flow	162.72	159.96	-76.66	-51.7	-205.89	-69.56
Unlevered Free Cash Flow	167.93	165.33	-71.14	-45.57	-198.35	-68.24
Change in Working Capital	76.71	76.71	-96.94	-102.79	-284.04	-78.14

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