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 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	4.63	1.78	23	6.05	51.98	91.06
Depreciation & Amortization	24.43	24.43	25.14	28.45	27.13	25.93
Other Amortization	0.91	0.91	2.5	1.03	0.63	-
Loss (Gain) From Sale of Assets	1.4	1.4	0.34	-0.08	-0.82	1.69
Asset Writedown & Restructuring Costs	-14.93	-14.93	0.02	0.07	0.48	1.8
Loss (Gain) From Sale of Investments	-6.2	-6.2	-0.74	-0.38	-	-
Provision & Write-off of Bad Debts	-	-	-5.4	25.75	17.6	51.17
Other Operating Activities	4.29	17.81	9.51	7.73	11.22	14.51
Change in Accounts Receivable	248.04	248.04	139.82	31.5	25.61	-575.38
Change in Inventory	41.7	41.7	7.28	12.16	29.77	285.27
Change in Accounts Payable	-109.31	-109.31	-70.94	-136.9	-159.7	11.93
Change in Other Net Operating Assets	-	-	-	-	1.72	4.28
Operating Cash Flow	195.16	205.83	131.08	-28.33	5.43	-97.88
Operating Cash Flow Growth	73.65%	57.03%	-	-	-	-
Capital Expenditures	-0.25	-0.62	-4.07	-1.23	-8.8	-10.4
Sale of Property, Plant & Equipment	0.06	0.06	0.1	0.17	0.82	0.38
Investment in Securities	-225.69	-176.48	-57.1	-	-	-
Other Investing Activities	6.15	5.74	1.19	0.38	-	-
Investing Cash Flow	-219.73	-171.3	-59.88	-0.68	-7.98	-10.02
Short-Term Debt Issued	-	-	11.5	68.51	-	30
Total Debt Issued	-	-	11.5	68.51	-	30
Short-Term Debt Repaid	-	-	-	-20	-30	-40
Long-Term Debt Repaid	-	-1	-0.57	-0.43	-0.3	-0.05
Total Debt Repaid	-1	-1	-0.57	-20.43	-30.3	-40.05
Net Debt Issued (Repaid)	-1	-1	10.93	48.08	-30.3	-10.05
Repurchase of Common Stock	-	-	-20.01	-	-	-
Common Dividends Paid	-23.76	-23.26	-7.33	-8.97	-12.05	-8.16
Other Financing Activities	68.15	36.91	-	-26.02	6.37	-79.07
Financing Cash Flow	43.39	12.65	-16.41	13.09	-35.97	-97.29
Net Cash Flow	18.82	47.18	54.78	-15.92	-38.51	-205.19
Free Cash Flow	194.9	205.21	127.01	-29.56	-3.36	-108.28
Free Cash Flow Growth	79.30%	61.58%	-	-	-	-
Free Cash Flow Margin	105.91%	87.79%	30.27%	-7.12%	-0.53%	-9.69%
Free Cash Flow Per Share	1.11	1.15	0.66	-0.15	-0.02	-0.54
Cash Income Tax Paid	7.77	8.92	18.44	32.7	37.81	52.37
Levered Free Cash Flow	190.81	181.37	159.96	-76.66	-51.7	-205.89
Unlevered Free Cash Flow	190.81	181.37	165.33	-71.14	-45.57	-198.35
Change in Working Capital	180.63	180.63	76.71	-96.94	-102.79	-284.04

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