SHE:300612 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-31.83	-35.09	-78.53	53.48	9.79	-28.77
Depreciation & Amortization	12.56	12.56	18.51	22.31	25.17	10.13
Other Amortization	6.67	6.67	10.13	1.32	0.77	0.64
Loss (Gain) From Sale of Assets	0	0	-0.39	-0.09	0.11	-0.01
Asset Writedown & Restructuring Costs	0.83	0.83	-	-	0.02	0.8
Loss (Gain) From Sale of Investments	7.01	7.01	80.94	8.19	21.03	15.21
Provision & Write-off of Bad Debts	11	11	22.37	7.41	7.62	2.61
Other Operating Activities	120.59	4.68	8.02	4.35	1.6	1.78
Change in Accounts Receivable	43.59	43.59	26.88	-145.68	-1.49	-104.17
Change in Inventory	-1.91	-1.91	5.17	-8.55	-11.69	-42.22
Change in Accounts Payable	-104.53	-104.53	-36.44	46.41	-129.09	228.33
Change in Other Net Operating Assets	3.67	3.67	-	-	-	-
Operating Cash Flow	63.42	-55.75	49.45	-14.36	-78.41	82.37
Operating Cash Flow Growth	408.69%	-	-	-	-	106.97%
Capital Expenditures	-0.25	-0.03	-5.47	-1.34	-0.25	-9.4
Sale of Property, Plant & Equipment	0.05	0	0.39	0.14	0.02	0.17
Divestitures	0.08	0.08	16.01	-	0.46	-
Investment in Securities	-10.99	-40.13	-6.7	0.05	-20.2	-22.47
Other Investing Activities	2.56	1.79	7.22	2.46	-	-
Investing Cash Flow	-8.55	-38.29	11.45	1.31	-19.97	-31.7
Short-Term Debt Issued	-	34.5	136.82	114.59	63	2
Total Debt Issued	33	34.5	136.82	114.59	63	2
Short-Term Debt Repaid	-	-102	-137.59	-61.32	-23.01	-7.5
Long-Term Debt Repaid	-	-8.89	-9.59	-13.27	-16.71	-
Total Debt Repaid	-67.71	-110.89	-147.18	-74.59	-39.72	-7.5
Net Debt Issued (Repaid)	-34.71	-76.39	-10.36	40	23.28	-5.5
Issuance of Common Stock	2.82	289.35	-	-	-	-
Common Dividends Paid	-1.13	-2.92	-4.27	-3.4	-0.23	-
Other Financing Activities	0.71	-51.7	-46.19	-38.22	-30.38	0.93
Financing Cash Flow	-32.31	158.34	-60.82	-1.61	-7.33	-4.57
Foreign Exchange Rate Adjustments	0.23	0.22	0.11	0.34	-0.1	-0.7
Net Cash Flow	22.8	64.53	0.19	-14.32	-105.81	45.39
Free Cash Flow	63.17	-55.77	43.98	-15.7	-78.66	72.97
Free Cash Flow Growth	550.96%	-	-	-	-	209.96%
Free Cash Flow Margin	12.36%	-8.16%	4.19%	-1.42%	-8.57%	11.78%
Free Cash Flow Per Share	0.35	-0.32	0.27	-0.10	-0.48	0.46
Cash Income Tax Paid	22.91	24.34	22.35	28.79	20.03	21.13
Levered Free Cash Flow	38.95	-105.56	24.19	-63.5	-127.27	284.94
Unlevered Free Cash Flow	40.33	-102.67	28.76	-59.91	-125.41	284.94
Change in Working Capital	-63.41	-63.41	-11.6	-111.33	-144.52	79.99

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