SHE:300554 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	-113.63	-140.94	26.92	12.83	-75.01	20.03
Depreciation & Amortization	45.49	45.49	36.12	29.66	31.4	31.2
Other Amortization	0.77	0.77	0.28	0.27	0.37	0.56
Loss (Gain) From Sale of Assets	-0.17	-0.17	2.3	-	0.01	-
Asset Writedown & Restructuring Costs	70.39	70.39	0.34	0.67	81.63	11.56
Loss (Gain) From Sale of Investments	-0.95	-0.95	-0.68	-1.9	-3	-
Provision & Write-off of Bad Debts	3.61	3.61	1.55	3.5	-0.68	-
Other Operating Activities	90	74	10.8	18.09	20.26	4.68
Change in Accounts Receivable	68.59	68.59	-77.04	-176.37	103.74	-43.04
Change in Inventory	11.95	11.95	-34.7	-106.37	-34.25	5.68
Change in Accounts Payable	-79.99	-79.99	5.6	99.56	-3.87	-40.71
Change in Other Net Operating Assets	-4.34	-4.34	4.34	-	-	-
Operating Cash Flow	54.38	11.06	-24.38	-128.53	103.26	-11.8
Operating Cash Flow Growth	22.40%	-	-	-	-	-
Capital Expenditures	-25.12	-36.92	-49.24	-40.33	-22.09	-46.8
Sale of Property, Plant & Equipment	1.7	0.02	1.23	0.44	0.01	-
Investment in Securities	-30	-30	-35	145	-50	-65
Other Investing Activities	51.5	0.93	1.06	2.91	6.45	4.16
Investing Cash Flow	-1.93	-65.98	-81.96	108.02	-65.64	-107.63
Short-Term Debt Issued	-	168.73	127.86	71.79	-	100
Long-Term Debt Issued	-	-	-	-	-	190
Total Debt Issued	126.95	168.73	127.86	71.79	-	290
Short-Term Debt Repaid	-	-106.5	-91.09	-4.8	-80	-219
Total Debt Repaid	-103	-106.5	-91.09	-4.8	-80	-219
Net Debt Issued (Repaid)	23.94	62.23	36.77	66.99	-80	71
Issuance of Common Stock	-	-	116.23	-	-	-
Common Dividends Paid	-4.9	-13.25	-4.05	-2.06	-5.98	-6.08
Other Financing Activities	-0.16	14.57	2.25	-1.03	-0.54	-1.68
Financing Cash Flow	18.89	63.55	151.2	63.9	-86.52	63.24
Foreign Exchange Rate Adjustments	-0.1	0.15	0.05	0.2	-0.02	-
Net Cash Flow	71.24	8.79	44.92	43.59	-48.91	-56.19
Free Cash Flow	29.26	-25.85	-73.62	-168.87	81.17	-58.6
Free Cash Flow Margin	12.46%	-7.41%	-15.30%	-41.54%	32.67%	-22.68%
Free Cash Flow Per Share	0.26	-0.23	-0.66	-1.75	0.87	-0.60
Cash Income Tax Paid	12.27	20.18	29.29	1.34	10.17	2.3
Levered Free Cash Flow	6.76	-17.74	-60.36	-56.91	85.15	-100.15
Unlevered Free Cash Flow	9.87	-15.07	-57.51	-48.91	90.99	-97.23
Change in Working Capital	-41.14	-41.14	-102	-191.65	48.29	-79.83

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