SHE:300584 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	44.78	40.22	36.32	32.45	285.88	55.23
Depreciation & Amortization	52.85	52.85	53.56	48.14	37.06	31.55
Other Amortization	0.08	0.08	-	-	0.01	0.08
Loss (Gain) From Sale of Assets	-	-	0.79	0.95	0.02	0.07
Asset Writedown & Restructuring Costs	2.09	2.09	0.04	0.92	2.56	3.65
Loss (Gain) From Sale of Investments	-0	-0	-0.06	-1.05	-306.42	-0.3
Provision & Write-off of Bad Debts	-0.85	-0.85	1.65	4.07	-	-
Other Operating Activities	26.9	16.92	12.96	11.15	6.51	6.29
Change in Accounts Receivable	-49.87	-49.87	-31.52	-121.75	-37.4	-1.26
Change in Inventory	-13.44	-13.44	-22	-9.37	17.48	1.1
Change in Accounts Payable	17.76	17.76	-19.33	57.12	16.15	-20.39
Operating Cash Flow	74.5	59.96	23.93	-5.82	59.94	73.39
Operating Cash Flow Growth	53.92%	150.54%	-	-	-18.32%	-24.56%
Capital Expenditures	-75.48	-77.94	-197.22	-218.94	-94.41	-120.1
Sale of Property, Plant & Equipment	59.08	0.01	0.65	0.08	0.04	0.18
Investment in Securities	-8.1	0	59.31	247.98	8.8	-9.68
Investing Cash Flow	-24.5	-77.93	-137.27	29.12	-85.57	-129.6
Short-Term Debt Issued	-	73.6	29.38	283.97	145	-
Long-Term Debt Issued	-	273.5	305.2	49	49.18	175
Total Debt Issued	311.1	347.1	334.58	332.97	194.18	175
Short-Term Debt Repaid	-	-73.47	-	-	-135	-
Long-Term Debt Repaid	-	-260.1	-263.04	-338.55	-0.08	-129
Total Debt Repaid	-315.87	-333.57	-263.04	-338.55	-135.08	-129
Net Debt Issued (Repaid)	-4.77	13.53	71.54	-5.58	59.1	46
Common Dividends Paid	-19.71	-13.85	-6.47	-35.5	-22.02	-36.99
Other Financing Activities	12.42	17.24	-	-0.95	-	-
Financing Cash Flow	-12.07	16.91	65.07	-42.03	37.08	9.01
Foreign Exchange Rate Adjustments	0.01	-0.01	0.02	0.01	-0.06	0.01
Net Cash Flow	37.95	-1.06	-48.25	-18.73	11.39	-47.19
Free Cash Flow	-0.98	-17.98	-173.29	-224.76	-34.47	-46.71
Free Cash Flow Margin	-0.16%	-3.56%	-33.46%	-42.69%	-5.96%	-6.61%
Free Cash Flow Per Share	-0.01	-0.15	-1.44	-1.87	-0.29	-0.39
Cash Income Tax Paid	67.97	46.54	82.79	67.18	83.26	101.32
Levered Free Cash Flow	27.6	-15.15	-176.9	-232.9	21.51	-70.62
Unlevered Free Cash Flow	32.03	-9.54	-171.73	-228.36	26.19	-66.24
Change in Working Capital	-51.34	-51.34	-81.32	-102.45	34.31	-23.17

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