SHE:300782 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	-292.9	401.83	1,122	1,069	2,135
Depreciation & Amortization	721.37	570.04	220.43	99.31	50.62
Other Amortization	18.97	29.83	10.16	4.01	1.78
Loss (Gain) From Sale of Assets	-5.28	-6.77	-1.1	-	-
Asset Writedown & Restructuring Costs	243.73	-	-	-0.02	-0
Loss (Gain) From Sale of Investments	-0.23	-0	-26.21	0.75	-31.5
Provision & Write-off of Bad Debts	-	2.91	5.9	-10.55	12.74
Other Operating Activities	79.89	195.68	98.16	288.58	74.98
Change in Accounts Receivable	-39.23	60.16	-103.74	144.52	-379.49
Change in Inventory	-1,035	-1,071	123.67	-724.61	-907.53
Change in Accounts Payable	584.64	-127.14	428.08	85.42	211.94
Change in Other Net Operating Assets	-30.89	14.64	33.42	9.3	-7.45
Operating Cash Flow	103.8	80.28	1,894	942.24	1,150
Operating Cash Flow Growth	29.29%	-95.76%	101.02%	-18.05%	14.36%
Capital Expenditures	-805.66	-1,868	-2,122	-1,711	-2,858
Sale of Property, Plant & Equipment	22.84	59.68	111.83	0.05	0
Investment in Securities	-28.84	-13.94	-36.58	77.81	65.66
Other Investing Activities	1.54	10.47	-245.82	13.74	-563.03
Investing Cash Flow	-810.12	-1,812	-2,292	-1,619	-3,356
Long-Term Debt Issued	3,052	2,896	-	-	-
Total Debt Issued	3,052	2,896	-	-	-
Long-Term Debt Repaid	-2,093	-382.63	-16.32	-4.82	-
Total Debt Repaid	-2,093	-382.63	-16.32	-4.82	-
Net Debt Issued (Repaid)	959.55	2,513	-16.32	-4.82	-
Issuance of Common Stock	29.26	45.6	17.66	5.67	2,972
Common Dividends Paid	-112.04	-152.04	-90.75	-233.51	-185.31
Other Financing Activities	-25.89	-	-4.21	-	-7.21
Financing Cash Flow	850.88	2,407	-93.62	-232.66	2,780
Foreign Exchange Rate Adjustments	-12.02	1.89	-1.81	104.01	-29.35
Net Cash Flow	132.54	677.31	-493.65	-805.54	544.65
Free Cash Flow	-701.86	-1,788	-227.66	-768.48	-1,709
Free Cash Flow Margin	-18.84%	-39.85%	-5.20%	-20.90%	-36.87%
Free Cash Flow Per Share	-1.31	-3.35	-0.43	-1.44	-3.21
Cash Income Tax Paid	-223.04	-165.11	-121.39	-472.73	-277.17
Levered Free Cash Flow	-581.58	-2,191	-970.53	-966.11	-2,314
Unlevered Free Cash Flow	-581.58	-2,168	-969.07	-965.77	-2,314
Change in Working Capital	-661.77	-1,113	464.44	-509.18	-1,094

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.