SHE:300540 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	68.61	72.37	32.65	-25.09	-76.44	9.43
Depreciation & Amortization	13.3	13.3	10.93	8.41	9.62	3.07
Other Amortization	0.89	0.89	0.21	0.13	0.17	0.07
Loss (Gain) From Sale of Assets	0.01	0.01	-0.36	-	0.01	-0
Asset Writedown & Restructuring Costs	1.76	1.76	2.61	-10.18	80.98	15.75
Loss (Gain) From Sale of Investments	0.01	0.01	0.3	-0.14	-2.69	-0.1
Provision & Write-off of Bad Debts	-2.11	-2.11	-8.98	-	-	-
Other Operating Activities	-263.82	15.72	7.49	-5.71	14.3	10.15
Change in Accounts Receivable	78.08	78.08	-210.95	102.38	-44.85	-195.09
Change in Inventory	-71.17	-71.17	-77.21	-42.96	91.78	-82.27
Change in Accounts Payable	174.42	174.42	63.15	33.65	-113.38	161.33
Change in Other Net Operating Assets	6.94	6.94	4.34	-	0.19	1.6
Operating Cash Flow	6.91	290.2	-177.6	60.84	-50.73	-78.67
Capital Expenditures	-3.83	-8.47	-15.55	-24.56	-17.53	-39.37
Sale of Property, Plant & Equipment	0.01	0.01	0.03	-	-	-
Investment in Securities	-106.2	-	61.28	-299.87	-	-5.25
Other Investing Activities	164.61	-	-0.5	-	-	0.1
Investing Cash Flow	54.58	-8.46	45.26	-324.42	-17.53	-44.52
Short-Term Debt Issued	-	-	45.65	10	-	-
Long-Term Debt Issued	-	144.25	120	36	318	150
Total Debt Issued	129.25	144.25	165.65	46	318	150
Short-Term Debt Repaid	-	-	-	-10	-	-
Long-Term Debt Repaid	-	-103.03	-60.69	-223.4	-200	-75
Total Debt Repaid	-137.01	-103.03	-60.69	-233.4	-200	-75
Net Debt Issued (Repaid)	-7.76	41.22	104.96	-187.4	118	75
Issuance of Common Stock	-	5.68	39.24	488.94	-	-
Repurchase of Common Stock	-	-	-	-	-	-0.13
Common Dividends Paid	-12.61	-4.8	-3.05	-3.63	-10.08	-3.74
Other Financing Activities	8.5	18.22	-	-21.33	-1.71	-5.81
Financing Cash Flow	-11.87	60.32	141.16	276.58	106.22	65.33
Foreign Exchange Rate Adjustments	-0.05	0.75	-0.12	-0	-0	-0
Net Cash Flow	49.58	342.81	8.69	13	37.96	-57.86
Free Cash Flow	3.08	281.73	-193.16	36.29	-68.25	-118.04
Free Cash Flow Margin	0.37%	32.70%	-28.90%	15.18%	-12.80%	-22.75%
Free Cash Flow Per Share	0.01	1.25	-0.86	0.16	-0.39	-0.68
Cash Interest Paid	-	-	-	-	-	5.63
Cash Income Tax Paid	23.5	42.45	9.62	5.22	-14.55	46.44
Levered Free Cash Flow	103.19	339.87	-127.54	52.45	-86.66	-126.41
Unlevered Free Cash Flow	106.7	342.72	-125.29	54.61	-80.75	-122.89
Change in Working Capital	188.26	188.26	-222.44	93.41	-76.69	-117.03

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