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 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	43.06	40.73	40.22	36.32	32.45	285.88
Depreciation & Amortization	64.53	64.53	52.85	53.56	48.14	37.06
Other Amortization	0.05	0.05	0.08	-	-	0.01
Loss (Gain) From Sale of Assets	-0.48	-0.48	-	0.79	0.95	0.02
Asset Writedown & Restructuring Costs	33.93	33.93	2.09	0.04	0.92	2.56
Loss (Gain) From Sale of Investments	3.59	3.59	-0	-0.06	-1.05	-306.42
Provision & Write-off of Bad Debts	-	-	-0.85	1.65	4.07	-
Other Operating Activities	-27.91	6.96	16.92	12.96	11.15	6.51
Change in Accounts Receivable	-70.77	-70.77	-49.87	-31.52	-121.75	-37.4
Change in Inventory	2.26	2.26	-13.44	-22	-9.37	17.48
Change in Accounts Payable	11.68	11.68	17.76	-19.33	57.12	16.15
Operating Cash Flow	45.54	78.09	59.96	23.93	-5.82	59.94
Operating Cash Flow Growth	-53.73%	30.23%	150.54%	-	-	-18.32%
Capital Expenditures	-48.6	-62.64	-77.94	-197.22	-218.94	-94.41
Sale of Property, Plant & Equipment	29.53	29.5	0.01	0.65	0.08	0.04
Investment in Securities	-	-8.1	0	59.31	247.98	8.8
Investing Cash Flow	-19.07	-41.24	-77.93	-137.27	29.12	-85.57
Short-Term Debt Issued	-	-	73.6	29.38	283.97	145
Long-Term Debt Issued	-	234.3	273.5	305.2	49	49.18
Total Debt Issued	216.8	234.3	347.1	334.58	332.97	194.18
Short-Term Debt Repaid	-	-	-73.47	-	-	-135
Long-Term Debt Repaid	-	-222.1	-260.1	-263.04	-338.55	-0.08
Total Debt Repaid	-199.89	-222.1	-333.57	-263.04	-338.55	-135.08
Net Debt Issued (Repaid)	16.91	12.2	13.53	71.54	-5.58	59.1
Common Dividends Paid	-19.32	-19.5	-13.85	-6.47	-35.5	-22.02
Other Financing Activities	-4.08	-9.13	17.24	-	-0.95	-
Financing Cash Flow	-6.48	-16.43	16.91	65.07	-42.03	37.08
Foreign Exchange Rate Adjustments	0	0.02	-0.01	0.02	0.01	-0.06
Net Cash Flow	19.99	20.43	-1.06	-48.25	-18.73	11.39
Free Cash Flow	-3.06	15.45	-17.98	-173.29	-224.76	-34.47
Free Cash Flow Margin	-0.44%	2.30%	-3.56%	-33.46%	-42.69%	-5.96%
Free Cash Flow Per Share	-0.03	0.13	-0.15	-1.44	-1.87	-0.29
Cash Income Tax Paid	93.34	82.25	46.54	82.79	67.18	83.26
Levered Free Cash Flow	63.97	94.33	-15.15	-176.9	-232.9	21.51
Unlevered Free Cash Flow	63.97	94.33	-9.54	-171.73	-228.36	26.19
Change in Working Capital	-71.24	-71.24	-51.34	-81.32	-102.45	34.31

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