SHE:300830 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-79.07	-79.34	11.53	12.66	57.21	65.78
Depreciation & Amortization	30.91	30.91	6.51	12.57	9.95	8.38
Other Amortization	1.09	1.09	11.31	0.99	5.18	1.41
Loss (Gain) From Sale of Assets	-0.02	-0.02	-0.04	-0.03	1.57	-0
Asset Writedown & Restructuring Costs	25.43	25.43	-	-	0.34	27.54
Loss (Gain) From Sale of Investments	-3.73	-3.73	-4.98	-3.09	-9.56	-10.76
Provision & Write-off of Bad Debts	-	-	6.29	36.2	33.13	-
Other Operating Activities	62.95	41.9	13.04	1.34	-0.52	0.39
Change in Accounts Receivable	150.07	150.07	67.47	-48.34	-164.9	-52.95
Change in Inventory	-23.2	-23.2	-1.8	-12.63	1.17	-18.47
Change in Accounts Payable	-16.59	-16.59	-39.01	-23.34	33.87	28.95
Change in Other Net Operating Assets	-	-	-	-	-12.67	12.67
Operating Cash Flow	124.23	102.91	62.12	-29.7	-45.2	58.75
Operating Cash Flow Growth	19.81%	65.66%	-	-	-	-
Capital Expenditures	-38.39	-49.02	-124.98	-17.27	-196.5	-13.55
Sale of Property, Plant & Equipment	0.04	0.11	0.01	0.08	0.05	0.02
Investment in Securities	-61	-60.94	-150.5	15	293	-42
Other Investing Activities	4.99	4.58	4.52	3.32	8.22	9.61
Investing Cash Flow	-94.35	-105.27	-270.95	1.13	104.77	-45.91
Long-Term Debt Issued	-	-	-	199.21	-	-
Long-Term Debt Repaid	-	-1.33	-1.29	-1.88	-3.71	-3.84
Net Debt Issued (Repaid)	-1.33	-1.33	-1.29	197.33	-3.71	-3.84
Issuance of Common Stock	-	0.15	-	-	-	-
Common Dividends Paid	-10.32	-10.32	-10.61	-22.37	-21.45	-9.89
Other Financing Activities	-0.55	-0.63	-0.57	-1.33	-	0.5
Financing Cash Flow	-12.2	-12.14	-12.47	173.64	-25.16	-13.23
Net Cash Flow	17.68	-14.5	-221.3	145.07	34.41	-0.4
Free Cash Flow	85.84	53.89	-62.86	-46.97	-241.69	45.2
Free Cash Flow Margin	26.84%	17.31%	-14.30%	-9.25%	-38.50%	7.54%
Free Cash Flow Per Share	0.20	0.12	-0.16	-0.11	-0.55	0.10
Cash Income Tax Paid	9.5	9.06	29.17	53.68	35.54	43.9
Levered Free Cash Flow	150.85	117.64	-76.39	-48.09	-262.99	14.02
Unlevered Free Cash Flow	150.85	117.64	-70.89	-47.45	-262.83	14.23
Change in Working Capital	86.67	86.67	18.45	-90.32	-142.5	-33.99

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