SHE:300828 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	Dec '21 Dec 31, 2021
Net Income	32.6	55.3	75.36	97.23	75.7
Depreciation & Amortization	31.26	32.05	33.25	31.84	30.48
Other Amortization	0.57	-	-	-	-
Loss (Gain) From Sale of Assets	-0.03	0.01	-0	-0.03	-0.01
Asset Writedown & Restructuring Costs	3.38	-1.16	3.87	2.17	3.15
Loss (Gain) From Sale of Investments	-0.5	-1.79	-4.42	-3.48	-3.98
Other Operating Activities	3.29	-0.47	-1.82	-2.18	1.23
Change in Accounts Receivable	-3.5	29.13	27.1	-46.05	-43.79
Change in Inventory	-6.08	-15.24	42.42	-38.75	-58.71
Change in Accounts Payable	-10.92	-38.57	-14.94	-0.14	2.75
Change in Other Net Operating Assets	-0.82	-	-	-0.91	-
Operating Cash Flow	45.71	56.41	159.43	38.6	6.97
Operating Cash Flow Growth	-18.97%	-64.62%	313.01%	453.91%	-89.98%
Capital Expenditures	-15.4	-40.68	-86.16	-10.23	-21.04
Sale of Property, Plant & Equipment	0.13	0.02	0.1	0.06	0.07
Investment in Securities	56.32	54.87	99.91	-74.47	39.58
Other Investing Activities	-	0.75	-1	-	4.02
Investing Cash Flow	41.05	14.96	12.86	-84.64	22.63
Short-Term Debt Issued	70.07	10	35.28	88.53	-
Total Debt Issued	70.07	10	35.28	88.53	-
Short-Term Debt Repaid	-30	-30	-80	-	-
Long-Term Debt Repaid	-0.78	-0.09	-0.2	-0.4	-
Total Debt Repaid	-30.78	-30.09	-80.2	-0.4	-
Net Debt Issued (Repaid)	39.29	-20.09	-44.92	88.13	-
Issuance of Common Stock	-	2.74	4.62	3.38	-
Repurchase of Common Stock	-0.84	-20.9	-	-	-
Common Dividends Paid	-50.38	-25.5	-134.7	-45.16	-31.45
Dividends Paid	-50.38	-25.5	-134.7	-45.16	-31.45
Other Financing Activities	-	-	-	-	-0.18
Financing Cash Flow	-11.93	-63.75	-174.99	46.36	-31.63
Foreign Exchange Rate Adjustments	-1.41	0.73	-0.11	1.06	-0.89
Net Cash Flow	73.42	8.35	-2.82	1.39	-2.92
Free Cash Flow	30.31	15.72	73.27	28.38	-14.08
Free Cash Flow Growth	92.76%	-78.54%	158.23%	-	-
Free Cash Flow Margin	5.10%	2.53%	11.02%	3.71%	-2.45%
Free Cash Flow Per Share	0.19	0.09	0.44	0.17	-0.09
Cash Income Tax Paid	18.16	18	28.36	12.19	10.49
Levered Free Cash Flow	23.49	27.97	54.19	19.47	-34.38
Unlevered Free Cash Flow	24.31	28.35	55.43	20.18	-34.37
Change in Working Capital	-24.85	-27.54	53.19	-86.95	-99.6

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