SHE:300675 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-32.71	2.4	23.68	73.14	44.51	43.87
Depreciation & Amortization	30.14	30.14	44.83	49.51	50.9	28.95
Other Amortization	8.99	8.99	4.13	9.45	10.38	11.59
Loss (Gain) From Sale of Assets	-0.17	-0.17	-0.43	-0.09	-0.02	0.1
Asset Writedown & Restructuring Costs	2.82	2.82	-45	-3.3	-	-
Loss (Gain) From Sale of Investments	-0.33	-0.33	-7.9	-5.07	0.18	-0.33
Provision & Write-off of Bad Debts	14.17	14.17	9.73	7.23	6.31	11.2
Other Operating Activities	38.62	15.9	18.89	6.17	6.9	4.84
Change in Accounts Receivable	-58.81	-58.81	-11.19	-69.12	-57.09	-97.26
Change in Inventory	0	0	0.01	0.04	-0	-0.03
Change in Accounts Payable	-13.43	-13.43	-20.04	-24.03	-12.14	58.97
Change in Unearned Revenue	-	-	-	-	-	6.93
Change in Other Net Operating Assets	0.73	0.73	-0.16	-36.98	-9.49	-
Operating Cash Flow	-11.28	1.11	14.52	12.76	42.04	65.65
Operating Cash Flow Growth	-	-92.33%	13.81%	-69.66%	-35.97%	3.37%
Capital Expenditures	-37.34	-51.7	-24.1	-50.12	-62.17	-135.38
Sale of Property, Plant & Equipment	0.01	0.01	0.05	0.01	0.03	0.04
Divestitures	-	7.3	-	3.58	-	-
Investment in Securities	1.6	-	-	-	4.01	42.99
Other Investing Activities	-	0.06	-0.33	-	0	1.23
Investing Cash Flow	-35.73	-44.32	-24.38	-46.53	-58.14	-91.11
Long-Term Debt Issued	-	356.48	230.33	129.82	369.38	190
Total Debt Issued	423.79	356.48	230.33	129.82	369.38	190
Long-Term Debt Repaid	-	-255	-148.13	-144.69	-358.99	-102
Total Debt Repaid	-334.78	-255	-148.13	-144.69	-358.99	-102
Net Debt Issued (Repaid)	89.01	101.47	82.2	-14.87	10.39	88
Common Dividends Paid	-18.26	-22.58	-30.49	-29.68	-26.94	-21.97
Other Financing Activities	-5.68	-3.62	-3.56	-2.34	0.1	-
Financing Cash Flow	65.06	75.28	48.14	-46.9	-16.45	66.03
Net Cash Flow	18.06	32.07	38.28	-80.68	-32.55	40.58
Free Cash Flow	-48.62	-50.58	-9.58	-37.37	-20.13	-69.72
Free Cash Flow Margin	-16.63%	-13.59%	-2.27%	-7.88%	-4.00%	-13.77%
Free Cash Flow Per Share	-0.33	-0.34	-0.07	-0.26	-0.14	-0.47
Cash Income Tax Paid	8.38	14.21	21.61	15.98	21.51	22.94
Levered Free Cash Flow	-62.15	-101.04	-57.04	-8.82	-63.64	-53.23
Unlevered Free Cash Flow	-51.03	-90.27	-47.4	-6.4	-61.18	-52.6
Change in Working Capital	-72.82	-72.82	-33.43	-124.29	-77.13	-34.57

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