SHE:300608 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-180.06	-51.11	22.02	17.26	61.9
Depreciation & Amortization	37.62	34.73	34.53	31.18	31.17
Other Amortization	70.18	48.82	42.41	27.72	16.22
Loss (Gain) From Sale of Assets	-0.2	-0.25	0.15	-0.01	0.01
Asset Writedown & Restructuring Costs	9.94	0.7	3.54	0.59	-
Loss (Gain) From Sale of Investments	4.59	19.25	3.97	5.17	-8.48
Provision & Write-off of Bad Debts	18.75	23.92	14.59	6.26	2.26
Other Operating Activities	35.23	37.28	43.39	48.72	39.86
Change in Accounts Receivable	195.22	-228.46	-144.78	-107.98	3.15
Change in Inventory	-43.08	59.19	-42.43	-30.75	-5.57
Change in Accounts Payable	11.82	-64.21	11.25	23.22	-34.51
Change in Other Net Operating Assets	-	-	2.78	2.58	-0.24
Operating Cash Flow	151.56	-124.34	-9.57	21.01	104.91
Operating Cash Flow Growth	-	-	-	-79.97%	1.59%
Capital Expenditures	-103.21	-117.61	-130.05	-93.92	-65
Sale of Property, Plant & Equipment	0.02	0	0.1	0.02	0.18
Investment in Securities	-10.24	-3	-21.38	-6.1	-1.2
Other Investing Activities	6.06	-2.82	5.61	-5.61	-
Investing Cash Flow	-107.37	-123.43	-145.72	-105.62	-66.02
Long-Term Debt Issued	506.06	526.19	495.45	465.18	496.05
Total Debt Issued	506.06	526.19	495.45	465.18	496.05
Long-Term Debt Repaid	-544.52	-534.64	-579.51	-386.19	-460.64
Total Debt Repaid	-544.52	-534.64	-579.51	-386.19	-460.64
Net Debt Issued (Repaid)	-38.46	-8.45	-84.06	78.99	35.41
Issuance of Common Stock	-	-	-	596.13	-
Repurchase of Common Stock	-	-30	-	-	-
Common Dividends Paid	-20.64	-24.83	-27.37	-41.32	-39.36
Other Financing Activities	-0.5	-	-2.48	-0.41	-0.41
Financing Cash Flow	-59.59	-63.28	-113.91	633.39	-4.36
Foreign Exchange Rate Adjustments	-0.62	0.44	-0.11	0.29	-0.04
Net Cash Flow	-16.03	-310.6	-269.3	549.08	34.49
Free Cash Flow	48.35	-241.95	-139.61	-72.91	39.91
Free Cash Flow Growth	-	-	-	-	202.58%
Free Cash Flow Margin	7.84%	-27.76%	-16.04%	-8.74%	4.41%
Free Cash Flow Per Share	0.15	-0.71	-0.44	-0.30	0.16
Cash Income Tax Paid	40.51	44.2	37.58	34.02	30.46
Levered Free Cash Flow	99.46	-280.51	-195.44	-119.51	-23.52
Unlevered Free Cash Flow	118.46	-260.8	-172.11	-97.68	-1.34
Change in Working Capital	155.51	-237.67	-174.17	-115.88	-38.04

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