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 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	-76.23	-92.13	2.4	23.68	73.14	44.51
Depreciation & Amortization	28.11	28.11	36.91	44.83	49.51	50.9
Other Amortization	7.16	7.16	2.22	4.13	9.45	10.38
Loss (Gain) From Sale of Assets	-0.28	-0.28	-0.17	-0.43	-0.09	-0.02
Asset Writedown & Restructuring Costs	12.74	12.74	2.82	-45	-3.3	-
Loss (Gain) From Sale of Investments	-0.18	-0.18	-0.33	-7.9	-5.07	0.18
Provision & Write-off of Bad Debts	16.06	16.06	14.17	9.73	7.23	6.31
Other Operating Activities	41.47	17.78	15.9	18.89	6.17	6.9
Change in Accounts Receivable	61.72	61.72	-58.08	-11.19	-69.12	-57.09
Change in Inventory	-0.02	-0.02	0	0.01	0.04	-0
Change in Accounts Payable	-80.87	-80.87	-13.43	-20.04	-24.03	-12.14
Change in Other Net Operating Assets	-	-	-	-0.16	-36.98	-9.49
Operating Cash Flow	8.02	-31.58	1.11	14.52	12.76	42.04
Operating Cash Flow Growth	-	-	-92.33%	13.81%	-69.66%	-35.97%
Capital Expenditures	-15.54	-35.54	-51.7	-24.1	-50.12	-62.17
Sale of Property, Plant & Equipment	0.31	0.29	0.01	0.05	0.01	0.03
Divestitures	-	-	7.3	-	3.58	-
Investment in Securities	-	1.6	-	-	-	4.01
Other Investing Activities	-	-	0.06	-0.33	-	0
Investing Cash Flow	-15.23	-33.65	-44.32	-24.38	-46.53	-58.14
Long-Term Debt Issued	-	393.62	356.48	230.33	129.82	369.38
Total Debt Issued	281.95	393.62	356.48	230.33	129.82	369.38
Long-Term Debt Repaid	-	-354.11	-255	-148.13	-144.69	-358.99
Total Debt Repaid	-322.66	-354.11	-255	-148.13	-144.69	-358.99
Net Debt Issued (Repaid)	-40.71	39.51	101.47	82.2	-14.87	10.39
Common Dividends Paid	-17.95	-18.43	-22.58	-30.49	-29.68	-26.94
Other Financing Activities	0.85	-	-3.62	-3.56	-2.34	0.1
Financing Cash Flow	-57.81	21.09	75.28	48.14	-46.9	-16.45
Net Cash Flow	-65.02	-44.14	32.07	38.28	-80.68	-32.55
Free Cash Flow	-7.52	-67.12	-50.58	-9.58	-37.37	-20.13
Free Cash Flow Margin	-2.89%	-26.31%	-13.59%	-2.27%	-7.88%	-4.00%
Free Cash Flow Per Share	-0.05	-0.46	-0.34	-0.07	-0.26	-0.14
Cash Income Tax Paid	15.61	14.1	14.21	21.61	15.98	21.51
Levered Free Cash Flow	-	-83.11	-101.04	-57.04	-8.82	-63.64
Unlevered Free Cash Flow	-	-72.02	-90.27	-47.4	-6.4	-61.18
Change in Working Capital	-20.83	-20.83	-72.82	-33.43	-124.29	-77.13

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