SHE:300547 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	197.09	204.04	202.73	161.99	122.42	104.99
Depreciation & Amortization	36.65	36.65	33.8	29.88	26.3	31.72
Other Amortization	-	-	0.2	-	-	-
Loss (Gain) From Sale of Assets	-	-	-0.06	0.22	0.01	-0.01
Asset Writedown & Restructuring Costs	4.72	4.72	0.03	0.24	6.99	0.1
Loss (Gain) From Sale of Investments	0.03	0.03	-0.11	-0.72	-1.3	-0.46
Provision & Write-off of Bad Debts	-	-	6.74	14.09	-	-
Other Operating Activities	123.03	3.57	6.23	9.27	-5.78	4.75
Change in Accounts Receivable	-102.75	-102.75	-76.87	-152.65	-16.07	52.2
Change in Inventory	-47.32	-47.32	-17.22	18.85	-86.82	-12.93
Change in Accounts Payable	3.05	3.05	48.61	22.05	61.68	-13.05
Operating Cash Flow	215.69	103.18	201.04	100.92	107.48	167.51
Operating Cash Flow Growth	59.18%	-48.68%	99.20%	-6.11%	-35.83%	44.82%
Capital Expenditures	-11.98	-10.59	-51.42	-62.28	-64.43	-97.43
Sale of Property, Plant & Equipment	0.14	0.14	0.17	0.1	0.21	0
Investment in Securities	-79.94	-79.94	20.28	-	-20.79	-
Other Investing Activities	-9.89	0.1	2.32	-	0.82	0.82
Investing Cash Flow	-101.68	-90.29	-28.65	-62.18	-84.21	-96.61
Repurchase of Common Stock	-	-	-	-10.1	-	-
Common Dividends Paid	-59.89	-59.89	-90.17	-60.08	-59.45	-60.08
Other Financing Activities	-0.06	-0.03	-0.09	-0.06	-0.06	-0.06
Financing Cash Flow	-59.95	-59.92	-90.26	-70.24	-59.51	-60.14
Foreign Exchange Rate Adjustments	-0.35	-0.35	0.45	-0.15	0.32	-0.66
Net Cash Flow	53.71	-47.39	82.59	-31.65	-35.91	10.09
Free Cash Flow	203.7	92.59	149.61	38.64	43.05	70.08
Free Cash Flow Growth	106.62%	-38.11%	287.18%	-10.24%	-38.57%	-33.32%
Free Cash Flow Margin	13.73%	6.08%	10.98%	3.48%	4.75%	9.03%
Free Cash Flow Per Share	0.94	0.43	0.69	0.18	0.20	0.32
Cash Income Tax Paid	86.04	81.08	70.82	52.4	31.83	35.69
Levered Free Cash Flow	81.38	10.27	75.62	-33.02	22.45	41.77
Unlevered Free Cash Flow	81.38	10.27	75.62	-33.02	22.45	41.77
Change in Working Capital	-145.83	-145.83	-48.52	-114.06	-41.16	26.43

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