SHE:300747 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	134.27	217.43	40.87	474.25
Depreciation & Amortization	201.96	171.93	138.94	99.24
Other Amortization	48.52	44.67	31.99	20.37
Loss (Gain) From Sale of Assets	-0.39	-0.27	-7.12	0.07
Asset Writedown & Restructuring Costs	10.79	2.77	60.85	35.75
Loss (Gain) From Sale of Investments	-	-	-	-1.71
Provision & Write-off of Bad Debts	45.89	5.84	-	-
Other Operating Activities	88.97	109.21	29.67	37.87
Change in Accounts Receivable	226.22	-238.79	-278.76	-554.76
Change in Inventory	164.4	-15.81	-10.49	-597.46
Change in Accounts Payable	-324.83	39.98	340.86	595.3
Change in Other Net Operating Assets	-53.07	-18.67	1.71	-40.47
Operating Cash Flow	510.43	286.09	288.2	72.92
Operating Cash Flow Growth	78.42%	-0.73%	295.24%	31.48%
Capital Expenditures	-106.79	-172.3	-374.45	-429.49
Sale of Property, Plant & Equipment	0	-	16.51	0.04
Investment in Securities	15	-15	230	-230
Investing Cash Flow	-91.79	-187.3	-127.94	-659.46
Short-Term Debt Issued	-	-	-	220
Long-Term Debt Issued	221.6	725	480	-
Total Debt Issued	221.6	725	480	220
Short-Term Debt Repaid	-	-	-	-120
Long-Term Debt Repaid	-532.66	-626.04	-267.54	-15.45
Total Debt Repaid	-532.66	-626.04	-267.54	-135.45
Net Debt Issued (Repaid)	-311.06	98.96	212.46	84.55
Issuance of Common Stock	-	-	-	132.38
Repurchase of Common Stock	-	-49.1	-	-
Common Dividends Paid	-76.87	-68.9	-7.56	-31.61
Other Financing Activities	-	-22.05	-5.81	-27.59
Financing Cash Flow	-387.93	-41.09	199.08	157.72
Foreign Exchange Rate Adjustments	1.21	2.48	1.32	-4.9
Net Cash Flow	31.92	60.18	360.67	-433.72
Free Cash Flow	403.64	113.78	-86.25	-356.58
Free Cash Flow Growth	254.74%	-	-	-
Free Cash Flow Margin	12.62%	3.09%	-2.71%	-10.46%
Free Cash Flow Per Share	0.72	0.20	-0.15	-0.63
Cash Income Tax Paid	76.2	139.33	36.11	164.36
Levered Free Cash Flow	306.77	5.15	74.92	-321.24
Unlevered Free Cash Flow	312.84	12.86	80.83	-317.97
Change in Working Capital	-19.58	-265.48	-7.01	-592.92

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.