SHE:300755 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-374.34	44.45	235.27	366.33	675.53
Depreciation & Amortization	27.73	35.7	41.86	34.37	29.11
Other Amortization	3.81	16.79	12.05	13.54	13.15
Loss (Gain) From Sale of Assets	-2.2	-0.45	-0.33	0.01	-0.11
Asset Writedown & Restructuring Costs	304.64	-	-	-	16.31
Loss (Gain) From Sale of Investments	-4.43	-5.54	-5.99	-4.25	-1.97
Provision & Write-off of Bad Debts	-	9.71	-2.56	10.44	-
Other Operating Activities	43.71	96.11	64.7	50.69	33.84
Change in Accounts Receivable	2,182	274.95	1,302	-908.4	-1,588
Change in Inventory	875.26	95.8	59.66	-395.47	-1,168
Change in Accounts Payable	-2,332	-144.82	-1,358	534.87	1,649
Operating Cash Flow	751.7	436.28	282.88	-329.93	-373.49
Operating Cash Flow Growth	72.30%	54.23%	-	-	-
Capital Expenditures	-1.53	-5.84	-18.46	-178.09	-72.28
Sale of Property, Plant & Equipment	1.11	0.14	0.08	0.01	0.18
Divestitures	4.3	3.32	-2.31	1.62	2.22
Investment in Securities	-2.47	-0	-	-	-20.41
Other Investing Activities	4.43	5.54	6.04	4.25	1.97
Investing Cash Flow	5.84	3.17	-14.65	-172.22	-88.32
Short-Term Debt Issued	-	2,002	1,617	1,416	584.06
Long-Term Debt Issued	1,464	-	-	-	-
Total Debt Issued	1,464	2,002	1,617	1,416	584.06
Short-Term Debt Repaid	-	-1,521	-1,665	-578.07	-419.1
Long-Term Debt Repaid	-2,536	-17.65	-18.37	-22.28	-24.34
Total Debt Repaid	-2,536	-1,539	-1,684	-600.35	-443.44
Net Debt Issued (Repaid)	-1,072	463.88	-66.33	815.74	140.63
Repurchase of Common Stock	-	-150.04	-	-	-
Common Dividends Paid	-65.66	-581.06	-109.19	-164.54	-88.71
Other Financing Activities	-33.68	37.86	79.22	-113.03	9.96
Financing Cash Flow	-1,171	-229.37	-96.3	538.17	61.88
Foreign Exchange Rate Adjustments	-0.05	0.06	0.24	0.18	-0.53
Net Cash Flow	-413.44	210.14	172.16	36.21	-400.47
Free Cash Flow	750.17	430.45	264.42	-508.02	-445.78
Free Cash Flow Growth	74.28%	62.79%	-	-	-
Free Cash Flow Margin	12.72%	4.55%	2.61%	-5.83%	-5.98%
Free Cash Flow Per Share	1.83	1.06	0.63	-1.22	-1.07
Cash Income Tax Paid	90.06	260.77	227.6	302.94	274.78
Levered Free Cash Flow	1,062	440	-32.82	-763.53	-290.48
Unlevered Free Cash Flow	1,062	473.51	-4.49	-743.29	-281.1
Change in Working Capital	752.8	239.52	-62.13	-801.06	-1,139

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