SHE:300824 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	69.51	71.36	46.97	108.49
Depreciation & Amortization	46.69	54.34	58.76	45.31
Other Amortization	7.18	5.82	8.4	3.82
Loss (Gain) From Sale of Assets	-0.04	0.45	0.2	-0.3
Asset Writedown & Restructuring Costs	0.5	0.06	0.11	0.31
Loss (Gain) From Sale of Investments	-7.14	-9.41	0.07	-8.7
Other Operating Activities	-1	-2.44	1.45	5.97
Change in Accounts Receivable	-28.59	19.07	6.96	-9.11
Change in Inventory	-5.31	24.54	87.08	-100.35
Change in Accounts Payable	26.9	-18.98	-55.46	20.11
Change in Other Net Operating Assets	-0.94	1.21	4.84	2.17
Operating Cash Flow	110.03	147.28	153.85	65.22
Operating Cash Flow Growth	-25.29%	-4.27%	135.88%	-30.68%
Capital Expenditures	-17.88	-12.26	-12.29	-37.64
Sale of Property, Plant & Equipment	0.25	0.81	0.37	0.03
Investment in Securities	77.01	-241.16	-45.39	-10.29
Other Investing Activities	7.39	7.98	3.73	10.33
Investing Cash Flow	66.77	-244.63	-53.57	-37.57
Short-Term Debt Issued	54.34	68.35	118.67	-
Long-Term Debt Issued	-	-	1.41	0.84
Total Debt Issued	54.34	68.35	120.08	0.84
Long-Term Debt Repaid	-41.18	-42.52	-47.58	-38.21
Net Debt Issued (Repaid)	13.16	25.83	72.5	-37.37
Issuance of Common Stock	-	-	1.89	-
Common Dividends Paid	-88.65	-44.22	-54.38	-54.35
Dividends Paid	-88.65	-44.22	-54.38	-54.35
Other Financing Activities	-70.24	-70.35	-110.23	-2.49
Financing Cash Flow	-145.73	-88.74	-90.22	-94.21
Foreign Exchange Rate Adjustments	3.72	2.15	4.61	-1.32
Net Cash Flow	34.79	-183.93	14.66	-67.88
Free Cash Flow	92.15	135.02	141.56	27.58
Free Cash Flow Growth	-31.75%	-4.62%	413.29%	-62.80%
Free Cash Flow Margin	12.23%	20.29%	17.59%	3.26%
Free Cash Flow Per Share	0.28	0.41	0.43	0.09
Cash Income Tax Paid	-81.33	23.81	34.14	14.67
Levered Free Cash Flow	64.51	120.83	130.47	-5.1
Unlevered Free Cash Flow	66.2	122.45	132.62	-3.06
Change in Working Capital	-5.68	27.1	37.89	-89.67

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