SHE:300733 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	89.23	50.61	-105.68	36.99	20.04	8.11
Depreciation & Amortization	155.06	155.06	137.99	127.1	100.68	56.13
Other Amortization	1.86	1.86	0.75	0.51	1.53	0.41
Loss (Gain) From Sale of Assets	-2.05	-2.05	-0.14	0.12	-0.1	0.96
Asset Writedown & Restructuring Costs	0.32	0.32	73.52	0.77	0.24	2.47
Loss (Gain) From Sale of Investments	2.73	2.73	3.71	-	0.27	-2.33
Provision & Write-off of Bad Debts	11.22	11.22	8.97	10.27	1.39	0.93
Other Operating Activities	-38.4	42.99	46.64	42.01	38.21	10.35
Change in Accounts Receivable	-280.93	-280.93	-162.68	-204.14	-66.59	-41.27
Change in Inventory	-72.04	-72.04	-43.86	-77.3	-82.84	-16.62
Change in Accounts Payable	142.97	142.97	180.84	96.82	17.38	-18.83
Change in Other Net Operating Assets	0.4	0.4	-1.3	8.98	12.09	3.2
Operating Cash Flow	9.82	52.6	127.53	37.53	36.17	1.29
Operating Cash Flow Growth	-93.14%	-58.76%	239.82%	3.75%	2711.89%	-96.62%
Capital Expenditures	-81.55	-69.32	-105.04	-205.77	-239.64	-205.53
Sale of Property, Plant & Equipment	0	-	-	0.01	0.5	0.86
Cash Acquisitions	-	-	-	-	-153.63	-
Investment in Securities	38	30	-48.48	13.8	30	21
Other Investing Activities	0.4	0.97	2.33	-	-1.85	1.93
Investing Cash Flow	-43.15	-38.35	-151.18	-191.96	-364.62	-181.74
Long-Term Debt Issued	-	379.25	399	583.19	638.97	315.27
Total Debt Issued	683.24	379.25	399	583.19	638.97	315.27
Long-Term Debt Repaid	-	-449.31	-565.61	-441.17	-411.25	-177.89
Total Debt Repaid	-565.09	-449.31	-565.61	-441.17	-411.25	-177.89
Net Debt Issued (Repaid)	118.15	-70.06	-166.61	142.03	227.71	137.38
Issuance of Common Stock	-	-	14.78	329.16	149.58	-
Repurchase of Common Stock	-10	-10	-20	-	-	-
Common Dividends Paid	-27.58	-13.78	-39.28	-20.34	-6.19	-20.14
Other Financing Activities	25.42	0.28	-0.65	-3.03	33.86	-38.24
Financing Cash Flow	106	-93.56	-211.76	447.82	404.96	79.01
Foreign Exchange Rate Adjustments	0.2	0.13	0.09	0	-0.06	0.24
Net Cash Flow	72.87	-79.18	-235.32	293.39	76.45	-101.2
Free Cash Flow	-71.73	-16.72	22.49	-168.24	-203.47	-204.25
Free Cash Flow Margin	-3.72%	-0.95%	1.48%	-15.20%	-27.13%	-39.80%
Free Cash Flow Per Share	-0.24	-0.06	0.07	-0.61	-0.75	-0.80
Cash Income Tax Paid	-	-100.93	-107.71	-3.52	6.78	5.31
Levered Free Cash Flow	76.75	35.88	145.57	-171.43	-217.79	-122.79
Unlevered Free Cash Flow	86.47	46.7	161.71	-153.73	-206.91	-118.08
Change in Working Capital	-210.15	-210.15	-38.24	-180.25	-126.09	-75.75

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