SHE:300781 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	-68.38	-45.04	41.58	32.95	58.69
Depreciation & Amortization	20.17	12.39	12.09	6.44	8.98
Other Amortization	1.27	3.5	3.22	6.61	0.58
Loss (Gain) From Sale of Assets	0.04	-0.5	-0.28	0.01	-0.1
Asset Writedown & Restructuring Costs	67.93	78.54	12.5	1.81	-
Loss (Gain) From Sale of Investments	-5.55	-5.76	-13.39	-12.32	-5.83
Provision & Write-off of Bad Debts	-	-1.49	6.78	0.61	-1.21
Other Operating Activities	47.91	22.14	4.45	23.47	29.09
Change in Accounts Receivable	-29.39	-70.53	-218.26	62.61	-120.76
Change in Accounts Payable	19.39	61.98	185.16	-29.13	52.7
Change in Other Net Operating Assets	-	1.32	-	-	-
Operating Cash Flow	43.11	53.05	37.05	92.02	26.64
Operating Cash Flow Growth	-18.73%	43.19%	-59.74%	245.36%	-54.61%
Capital Expenditures	-1.26	-10.32	-7.28	-9.08	-3.33
Sale of Property, Plant & Equipment	0.44	0.55	0.14	0.02	0.21
Cash Acquisitions	-	-2.11	-11.19	-22.96	-39.14
Divestitures	0.55	-	-	-0.03	-
Investment in Securities	48.82	-49.72	-44.91	-77.15	-95
Other Investing Activities	3.32	5.73	3.83	3.54	2.71
Investing Cash Flow	51.88	-55.87	-59.41	-105.66	-134.55
Short-Term Debt Issued	-	59.91	35.1	50	72.25
Long-Term Debt Issued	63.89	-	-	-	-
Total Debt Issued	63.89	59.91	35.1	50	72.25
Short-Term Debt Repaid	-	-41.96	-61.74	-26	-46.25
Long-Term Debt Repaid	-59.6	-8.71	-8.16	-8.08	-7
Total Debt Repaid	-59.6	-50.66	-69.9	-34.08	-53.25
Net Debt Issued (Repaid)	4.3	9.25	-34.8	15.92	19
Issuance of Common Stock	8.65	-	1.51	2.83	-
Common Dividends Paid	-0.3	-5.65	-11.4	-31.27	-5.4
Other Financing Activities	-24.83	-15.44	-18.17	-	-6.87
Financing Cash Flow	-12.19	-11.84	-62.85	-12.53	6.73
Foreign Exchange Rate Adjustments	-0.27	-	0.08	0.29	0.08
Net Cash Flow	82.54	-14.66	-85.14	-25.89	-101.1
Free Cash Flow	41.86	42.74	29.77	82.94	23.31
Free Cash Flow Growth	-2.06%	43.54%	-64.10%	255.73%	-59.91%
Free Cash Flow Margin	6.67%	4.84%	5.55%	17.08%	3.74%
Free Cash Flow Per Share	0.25	0.26	0.18	0.50	0.14
Cash Income Tax Paid	23.66	23.8	18.92	31.51	22.24
Levered Free Cash Flow	45.54	37.07	-32.28	-11.65	-13.28
Unlevered Free Cash Flow	45.54	38.04	-31.24	-10.94	-12.53
Change in Working Capital	-20.29	-10.74	-29.91	32.44	-63.55

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