SHE:300776 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	640.29	527.61	461.19	411.19	381.02	373.15
Depreciation & Amortization	57.94	57.94	51.18	24.81	10.33	4.08
Other Amortization	15.74	15.74	11.36	4.47	2.22	1.54
Asset Writedown & Restructuring Costs	0.01	0.01	0.07	0	-0.93	4.29
Loss (Gain) From Sale of Investments	-25.69	-25.69	-6.41	-1.54	-5.36	-3.44
Provision & Write-off of Bad Debts	89.01	89.01	19.46	24.83	31.36	18.98
Other Operating Activities	-1.75	15.05	-9.69	-6.1	11.15	0.73
Change in Accounts Receivable	-430.95	-430.95	-461.87	-539.02	-371.74	-355.5
Change in Inventory	181.14	181.14	-1,079	-220.32	30.02	17.96
Change in Accounts Payable	-589.77	-589.77	1,775	805.77	136.94	84.58
Change in Other Net Operating Assets	9.39	9.39	8.44	0.26	16	5.9
Operating Cash Flow	-67.95	-163.84	776.7	509.66	237.38	141.55
Operating Cash Flow Growth	-	-	52.40%	114.70%	67.70%	41.65%
Capital Expenditures	-88.7	-131.58	-119.43	-202.78	-136.95	-62.81
Sale of Property, Plant & Equipment	0.13	0.02	0.01	0	-	-
Investment in Securities	251.99	430.52	-483.88	-420	-1,410	180
Other Investing Activities	139.57	-	1.02	4.07	5.57	5.21
Investing Cash Flow	302.98	298.96	-602.28	-618.71	-1,541	122.4
Long-Term Debt Issued	-	-	-	4.99	833.96	-
Long-Term Debt Repaid	-	-3.29	-3.35	-3.1	-0.7	-
Net Debt Issued (Repaid)	-3.29	-3.29	-3.35	1.88	833.26	-
Issuance of Common Stock	23.23	-	-	31	41.9	-
Repurchase of Common Stock	-50.04	-50.04	-	-	-	-
Common Dividends Paid	-118.72	-103.51	-85.2	-83.05	-79.35	-33.06
Dividends Paid	-118.72	-103.51	-85.2	-83.05	-79.35	-33.06
Other Financing Activities	56.48	-	-	-0	-1.56	-0.25
Financing Cash Flow	-92.35	-156.84	-88.55	-50.17	794.26	-33.31
Foreign Exchange Rate Adjustments	-2.2	-2.44	-0.03	5.41	-0.27	-0.73
Net Cash Flow	140.48	-24.15	85.84	-153.81	-510.01	229.91
Free Cash Flow	-156.66	-295.42	657.27	306.88	100.43	78.74
Free Cash Flow Growth	-	-	114.18%	205.55%	27.55%	14.86%
Free Cash Flow Margin	-6.65%	-14.67%	40.85%	23.17%	7.99%	7.34%
Free Cash Flow Per Share	-0.57	-1.09	2.41	1.13	0.37	0.29
Cash Income Tax Paid	209.22	130.15	102.37	99.21	51.08	100.06
Levered Free Cash Flow	176.52	-478.14	508.58	88.59	31.77	-92.57
Unlevered Free Cash Flow	201.27	-453.78	531.85	110.99	40.64	-92.35
Change in Working Capital	-843.5	-843.5	249.54	51.99	-192.41	-257.79

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