SHE:300770 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	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	659.69	657.86	707.68	691.32	679.74
Depreciation & Amortization	117.55	45.46	86.99	121.76	182.23
Other Amortization	0.14	36.22	0.29	0.34	0.34
Loss (Gain) From Sale of Assets	-	-	-0.03	0.03	0.07
Asset Writedown & Restructuring Costs	6.83	0.01	3.23	1.1	27.5
Loss (Gain) From Sale of Investments	-4.94	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	-46.69	-25.76	-32.54	-26.06	-15.42
Change in Accounts Receivable	-103.96	-357.03	-208.21	-20.79	73.05
Change in Inventory	1.33	-4.17	-0.01	-0.25	-
Change in Accounts Payable	145.6	-12.63	35.84	256.25	107.41
Change in Other Net Operating Assets	-	-	27.09	-13	-3.59
Operating Cash Flow	775.74	361.44	625.24	1,006	1,045
Operating Cash Flow Growth	114.63%	-42.19%	-37.84%	-3.71%	99.00%
Capital Expenditures	-99.18	-55.69	-84.37	-131.96	-204.1
Sale of Property, Plant & Equipment	0.02	-	-	0	0.06
Investment in Securities	-561.46	-344.85	-461.31	26.94	-372.33
Other Investing Activities	26.79	31.59	31.36	28.74	13.44
Investing Cash Flow	-633.83	-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	-651.95	-726.19	-494.92	-274.96	-183.96
Other Financing Activities	-54.41	-	-2.95	4.5	6
Financing Cash Flow	-706.36	-740.72	-507.77	-273.27	-273.26
Net Cash Flow	-564.46	-748.23	-396.84	656.26	208.31
Free Cash Flow	676.56	305.75	540.87	873.84	840.41
Free Cash Flow Growth	121.28%	-43.47%	-38.10%	3.98%	147.90%
Free Cash Flow Margin	41.60%	19.37%	35.50%	61.17%	59.64%
Free Cash Flow Per Share	2.96	1.33	2.36	3.82	3.66
Cash Income Tax Paid	-23.32	127.98	39.43	35.61	43.64
Levered Free Cash Flow	454.64	57.71	225.65	562.77	512
Unlevered Free Cash Flow	454.64	58.01	226.1	562.87	512.12
Change in Working Capital	43.16	-363.29	-156.07	222.57	176.41

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