SHE:300730 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-60.31	-63.82	-161.64	23.94	38.55	32.44
Depreciation & Amortization	6.17	6.17	8.12	6.58	5.3	5.8
Other Amortization	1.29	1.29	-	0.82	-	-
Loss (Gain) From Sale of Assets	-0.08	-0.08	0.01	-	0	0.03
Asset Writedown & Restructuring Costs	0.01	0.01	0.21	0.03	0.03	0
Loss (Gain) From Sale of Investments	-0.01	-0.01	0.04	1.9	-0	-
Provision & Write-off of Bad Debts	12.56	12.56	108.19	18.27	6.31	11.36
Other Operating Activities	52.79	8.68	6.77	-2.11	-0.81	-0.35
Change in Accounts Receivable	38.22	38.22	-50.25	-121.38	-80.78	-64.64
Change in Inventory	-18.53	-18.53	-154.64	24.86	-38.14	-12.71
Change in Accounts Payable	-47.82	-47.82	113.45	-48.15	30.64	38.69
Change in Other Net Operating Assets	-0.04	-0.04	-2.4	3.8	5.68	2.69
Operating Cash Flow	-17.65	-65.28	-149.81	-93.24	-34.33	11.96
Capital Expenditures	-3.19	-7.68	-3.27	-7.21	-11.99	-1.82
Sale of Property, Plant & Equipment	0.84	0.85	0.01	0	0	0
Divestitures	21.83	21.83	22.05	27.14	10.61	5.24
Investment in Securities	-0.15	-	-0.18	-1.9	0	-
Other Investing Activities	-2.88	-	-	-	-	-
Investing Cash Flow	16.45	15	18.6	18.03	-1.38	3.42
Short-Term Debt Issued	-	-	-	130	55	10
Long-Term Debt Issued	-	268	251.13	-	-	-
Total Debt Issued	227.2	268	251.13	130	55	10
Short-Term Debt Repaid	-	-0.17	-0.87	-55	-10	-20
Long-Term Debt Repaid	-	-301.6	-145.74	-0.68	-0.38	-
Total Debt Repaid	-264.63	-301.77	-146.6	-55.68	-10.38	-20
Net Debt Issued (Repaid)	-37.43	-33.77	104.53	74.32	44.62	-10
Issuance of Common Stock	0	4.35	5.5	11.8	3.65	9.78
Repurchase of Common Stock	-	-	-1.63	-1.51	-0.53	-
Common Dividends Paid	-8.42	-9.79	-11.13	-12.44	-10.57	-9.48
Other Financing Activities	10.99	5.46	2.84	28.5	0.83	-2.73
Financing Cash Flow	-34.87	-33.75	100.11	100.67	37.99	-12.43
Net Cash Flow	-36.06	-84.03	-31.09	25.47	2.28	2.95
Free Cash Flow	-20.84	-72.96	-153.09	-100.45	-46.33	10.14
Free Cash Flow Margin	-8.14%	-23.53%	-65.42%	-19.02%	-9.33%	2.33%
Free Cash Flow Per Share	-0.08	-0.30	-0.64	-0.42	-0.19	0.04
Cash Interest Paid	-	-	-	-	-	0.51
Cash Income Tax Paid	11.71	18.93	15.3	18.64	17.43	14.03
Levered Free Cash Flow	3.01	-62.5	-67.28	-79.44	-24.15	8.42
Unlevered Free Cash Flow	8.5	-56.27	-62.6	-77.49	-23.51	8.74
Change in Working Capital	-30.08	-30.08	-111.51	-142.66	-83.71	-37.31

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.