SHE:300770 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	657.86	707.68	691.32	679.74
Depreciation & Amortization	45.46	86.99	121.76	182.23
Other Amortization	36.22	0.29	0.34	0.34
Loss (Gain) From Sale of Assets	-	-0.03	0.03	0.07
Asset Writedown & Restructuring Costs	0.01	3.23	1.1	27.5
Loss (Gain) From Sale of Investments	1.7	9.46	-0.79	-2.81
Provision & Write-off of Bad Debts	9.24	6.23	-4.46	-3.55
Other Operating Activities	-25.76	-32.54	-26.06	-15.42
Change in Accounts Receivable	-357.03	-208.21	-20.79	73.05
Change in Inventory	-4.17	-0.01	-0.25	-
Change in Accounts Payable	-12.63	35.84	256.25	107.41
Change in Other Net Operating Assets	-	27.09	-13	-3.59
Operating Cash Flow	361.44	625.24	1,006	1,045
Operating Cash Flow Growth	-42.19%	-37.84%	-3.71%	99.00%
Capital Expenditures	-55.69	-84.37	-131.96	-204.1
Sale of Property, Plant & Equipment	-	-	0	0.06
Investment in Securities	-344.85	-461.31	26.94	-372.33
Other Investing Activities	31.59	31.36	28.74	13.44
Investing Cash Flow	-368.95	-514.31	-76.28	-562.93
Long-Term Debt Repaid	-9.44	-9.89	-2.81	-2.43
Net Debt Issued (Repaid)	-9.44	-9.89	-2.81	-2.43
Issuance of Common Stock	-	-	-	2.48
Repurchase of Common Stock	-5.1	-	-	-95.35
Common Dividends Paid	-726.19	-494.92	-274.96	-183.96
Other Financing Activities	-	-2.95	4.5	6
Financing Cash Flow	-740.72	-507.77	-273.27	-273.26
Net Cash Flow	-748.23	-396.84	656.26	208.31
Free Cash Flow	305.75	540.87	873.84	840.41
Free Cash Flow Growth	-43.47%	-38.10%	3.98%	147.90%
Free Cash Flow Margin	19.37%	35.50%	61.17%	59.64%
Free Cash Flow Per Share	1.33	2.36	3.82	3.66
Cash Income Tax Paid	127.98	39.43	35.61	43.64
Levered Free Cash Flow	57.71	225.65	562.77	512
Unlevered Free Cash Flow	58.01	226.1	562.87	512.12
Change in Working Capital	-363.29	-156.07	222.57	176.41

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