SHE:300717 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	51.55	55.04	50.6	40.98	40.07	20.97
Depreciation & Amortization	26.46	26.46	23.91	24.92	25.55	21.07
Other Amortization	0.08	0.08	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	0.59	2.99
Loss (Gain) From Sale of Investments	-0.04	-0.04	-0.04	-0.04	-0.03	-0.38
Provision & Write-off of Bad Debts	-2.95	-2.95	-0.37	0.02	-	-
Other Operating Activities	43.93	3.59	-3.48	-1.93	-11.2	2.13
Change in Accounts Receivable	-4.42	-4.42	-39.61	-11.71	13.09	-9.71
Change in Inventory	-6.47	-6.47	-16.03	18.46	-25.64	4.6
Change in Accounts Payable	8.86	8.86	32.05	15.8	43.8	-7.23
Operating Cash Flow	119.15	82.3	48.36	86.47	88.03	35.73
Operating Cash Flow Growth	131.24%	70.18%	-44.08%	-1.77%	146.39%	-40.91%
Capital Expenditures	-64.82	-49.39	-134.36	-40.54	-50.06	-29.2
Sale of Property, Plant & Equipment	-	-	-	0	-	-
Investment in Securities	-21.75	-21.75	0.04	-	3	9
Other Investing Activities	21.79	-	-	0.04	0.03	1.49
Investing Cash Flow	-64.79	-71.14	-134.32	-40.5	-47.03	-18.71
Short-Term Debt Issued	-	249.38	92.22	49	-	-
Total Debt Issued	285.02	249.38	92.22	49	-	-
Short-Term Debt Repaid	-	-214.61	-	-49	-	-
Total Debt Repaid	-265.71	-214.61	-	-49	-	-
Net Debt Issued (Repaid)	19.31	34.77	92.22	-	-	-
Issuance of Common Stock	1.52	2.34	-	-	2.61	-
Common Dividends Paid	-30.83	-20.56	-20.56	-20.63	-5.12	-10.24
Other Financing Activities	3.24	3.24	-3.24	-	-	-
Financing Cash Flow	-6.77	19.79	68.43	-20.63	-2.51	-10.24
Foreign Exchange Rate Adjustments	-6.9	-3.13	3.8	1.95	10.93	-2
Net Cash Flow	40.7	27.81	-13.74	27.29	49.42	4.78
Free Cash Flow	54.33	32.91	-86	45.93	37.97	6.53
Free Cash Flow Growth	-	-	-	20.95%	481.40%	-46.81%
Free Cash Flow Margin	14.90%	9.15%	-26.98%	14.04%	11.03%	2.02%
Free Cash Flow Per Share	0.54	0.32	-0.83	0.45	0.37	0.07
Cash Income Tax Paid	14.57	8.72	15.31	10.26	3.18	5.75
Levered Free Cash Flow	11.6	12.2	-90.12	26.06	16.8	13.52
Unlevered Free Cash Flow	12.33	12.93	-89.9	26.11	16.8	13.52
Change in Working Capital	0.11	0.11	-22.26	22.51	33.06	-11.05

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