SHE:300628 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	2,648	2,010	2,178	1,616
Depreciation & Amortization	82.46	76.19	68.3	44.92
Other Amortization	4.39	2.98	3.5	1.16
Loss (Gain) From Sale of Assets	-	0	0.13	-0.04
Asset Writedown & Restructuring Costs	-0.06	0.13	0.06	0.25
Loss (Gain) From Sale of Investments	-196.75	-205.01	-112.52	-184.97
Provision & Write-off of Bad Debts	0.16	2.29	1.06	8.56
Other Operating Activities	-51.25	-30.48	-119.63	30.96
Change in Accounts Receivable	-110.44	-83.95	-196.13	-211.6
Change in Inventory	-97.14	-165.31	163.44	-394.55
Change in Accounts Payable	162.37	156.79	57.82	138.72
Change in Other Net Operating Assets	67.8	43.55	85.53	57.95
Operating Cash Flow	2,509	1,802	2,123	1,107
Operating Cash Flow Growth	39.24%	-15.12%	91.75%	-1.84%
Capital Expenditures	-140.12	-188.23	-657.89	-296.56
Sale of Property, Plant & Equipment	0.06	0.2	0.04	0.11
Investment in Securities	-639	36.25	-712.21	-507.28
Other Investing Activities	155.56	159.65	140.56	162.82
Investing Cash Flow	-623.51	7.87	-1,229	-640.91
Long-Term Debt Repaid	-4.97	-9.34	-5.05	-11.5
Total Debt Repaid	-4.97	-9.34	-5.05	-11.5
Net Debt Issued (Repaid)	-4.97	-9.34	-5.05	-11.5
Issuance of Common Stock	-	56.23	-	19.61
Repurchase of Common Stock	-	-10.8	-14.6	-17.08
Common Dividends Paid	-1,894	-1,802	-722.18	-586.94
Other Financing Activities	-	-99.99	-24	-0.51
Financing Cash Flow	-1,899	-1,866	-765.83	-596.42
Foreign Exchange Rate Adjustments	64.02	34.18	123.93	-9.87
Net Cash Flow	50.78	-22.35	251.44	-140.12
Free Cash Flow	2,369	1,614	1,465	810.53
Free Cash Flow Growth	46.80%	10.15%	80.74%	-17.25%
Free Cash Flow Margin	42.14%	37.11%	30.45%	22.00%
Free Cash Flow Per Share	1.87	1.28	1.16	0.64
Cash Interest Paid	-	-	-	1.24
Cash Income Tax Paid	69.63	21.65	18.07	-37.82
Levered Free Cash Flow	1,497	999.48	772.37	373.48
Unlevered Free Cash Flow	1,497	1,000	773.26	374.25
Change in Working Capital	22.12	-54.43	104.28	-409.84

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.