SHE:300746 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	-408.71	-429.67	10.92	16.42	100.22	70.11
Depreciation & Amortization	47.54	47.54	59.77	48.43	46.28	40.26
Other Amortization	7.2	7.2	2.02	7.24	1.85	0.61
Loss (Gain) From Sale of Assets	0.24	0.24	-0.46	-0.04	-0	-0.06
Asset Writedown & Restructuring Costs	261.08	261.08	31.32	35.51	39.24	33.04
Loss (Gain) From Sale of Investments	-4.18	-4.18	-9.26	-9.06	-57.53	-6.87
Provision & Write-off of Bad Debts	38.42	38.42	7.74	-	-	-
Other Operating Activities	-199.27	-58.94	10	10.4	16.98	44.67
Change in Accounts Receivable	-16.54	-16.54	-440.29	-277.04	-118.26	-92.86
Change in Inventory	-	-	-1.1	-	-	0.13
Change in Accounts Payable	141.18	141.18	383.3	217.08	175.29	134.84
Change in Other Net Operating Assets	-	-	-	-0.16	-0.45	-0.61
Operating Cash Flow	-127.49	-8.11	53.76	38.98	198.65	212.44
Operating Cash Flow Growth	-	-	37.92%	-80.38%	-6.49%	91.86%
Capital Expenditures	-20.15	-9.32	-24.59	-15.91	-71.9	-50.04
Sale of Property, Plant & Equipment	1.44	1.75	1.1	0.13	0.38	0.25
Cash Acquisitions	-481.49	-212.68	-	-	-	-83.9
Investment in Securities	219.02	306	28.85	-42.01	-10.13	585.4
Other Investing Activities	2.31	7.42	-	8.2	56.22	3.22
Investing Cash Flow	-278.88	93.16	5.35	-49.58	-40.43	451.92
Short-Term Debt Issued	-	33.27	9.8	39.2	49	-
Long-Term Debt Issued	-	-	-	-	-	58.8
Total Debt Issued	863.76	33.27	9.8	39.2	49	58.8
Short-Term Debt Repaid	-	-	-49	-49	-79	-
Long-Term Debt Repaid	-	-1.22	-1.6	-1.12	-47.44	-523.3
Total Debt Repaid	-422.34	-1.22	-50.6	-50.12	-126.44	-523.3
Net Debt Issued (Repaid)	441.42	32.06	-40.8	-10.92	-77.44	-464.5
Common Dividends Paid	-19.46	-49.71	-77.81	-32.18	-24.87	-43.25
Other Financing Activities	-4.57	-3.1	-12.8	-5	3.72	-4.62
Financing Cash Flow	417.39	-20.75	-131.41	-48.1	-98.59	-512.37
Net Cash Flow	11.03	64.3	-72.29	-58.7	59.64	152
Free Cash Flow	-147.64	-17.43	29.17	23.08	126.75	162.4
Free Cash Flow Growth	-	-	26.40%	-81.79%	-21.95%	154.38%
Free Cash Flow Margin	-12.40%	-1.65%	1.28%	0.92%	4.52%	7.14%
Free Cash Flow Per Share	-0.65	-0.08	0.13	0.10	0.56	0.72
Cash Interest Paid	-	-	-	-	-	1.52
Cash Income Tax Paid	87.98	66.22	55.62	58.57	82.51	56.62
Levered Free Cash Flow	-672.27	-300.94	49.69	42.22	113.12	33.32
Unlevered Free Cash Flow	-659.3	-300.82	50.33	43.62	115.42	39.7
Change in Working Capital	130.19	130.19	-58.3	-69.91	51.62	30.7

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