SHE:300619 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	62.61	11	-80.71	93.71	66.57	30.04
Depreciation & Amortization	132.54	132.54	120.92	81.62	62.65	51.36
Other Amortization	8.43	8.43	7.76	4.5	2.56	0.92
Loss (Gain) From Sale of Assets	0.03	0.03	-0.02	-0.04	0.01	0.01
Asset Writedown & Restructuring Costs	5.96	5.96	60.8	51.07	20.02	17.1
Loss (Gain) From Sale of Investments	0.49	0.49	0.42	0.3	0.01	-
Other Operating Activities	86.63	106.32	59.7	49.31	30.21	44.13
Change in Accounts Receivable	-171.57	-171.57	-441.31	-608.72	30.13	65.17
Change in Inventory	-165.52	-165.52	109.36	-32.98	-215.11	-362.35
Change in Accounts Payable	332.54	332.54	-175.88	30.11	371.56	183.28
Change in Other Net Operating Assets	-52.43	-52.43	-102.67	293.63	121.17	41.19
Operating Cash Flow	223.86	191.95	-460.31	-44.02	484.09	62.56
Operating Cash Flow Growth	-	-	-	-	673.76%	-37.12%
Capital Expenditures	-234.16	-237.82	-295.57	-544.51	-285.8	-103.02
Sale of Property, Plant & Equipment	0.53	0.54	0.01	0.12	0.13	0.08
Investment in Securities	-3	-3	-3.9	-	-3.41	-
Investing Cash Flow	-236.64	-240.28	-299.46	-544.39	-289.08	-102.94
Long-Term Debt Issued	-	1,871	1,881	1,421	748.12	336.9
Total Debt Issued	2,082	1,871	1,881	1,421	748.12	336.9
Long-Term Debt Repaid	-	-1,990	-1,643	-777.55	-683.13	-347.37
Total Debt Repaid	-1,942	-1,990	-1,643	-777.55	-683.13	-347.37
Net Debt Issued (Repaid)	139.27	-119.61	237.1	643.29	64.99	-10.47
Issuance of Common Stock	-	-	-	650.17	-	102.73
Common Dividends Paid	-65.17	-65.73	-89.82	-55.41	-28.77	-29.45
Other Financing Activities	103.07	96.35	60.05	9.47	-55.42	-49.03
Financing Cash Flow	157.27	-89	207.34	1,248	-19.2	13.78
Foreign Exchange Rate Adjustments	-0.5	-0.33	1.32	0.93	3.08	-0.16
Net Cash Flow	144	-137.66	-551.11	660.04	178.88	-26.75
Free Cash Flow	-10.3	-45.87	-755.88	-588.53	198.29	-40.46
Free Cash Flow Margin	-0.51%	-2.38%	-50.10%	-26.14%	10.90%	-3.52%
Free Cash Flow Per Share	-0.06	-0.26	-4.34	-3.89	1.33	-0.32
Cash Income Tax Paid	82.33	59.19	37.26	48.56	72.65	31.58
Levered Free Cash Flow	90.96	86.04	-728.74	-921.41	124.46	-163.19
Unlevered Free Cash Flow	90.96	86.04	-684.39	-883.6	145.52	-135.88
Change in Working Capital	-72.83	-72.83	-629.18	-324.49	302.06	-81

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