SHE:300862 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	-95.73	-89.39	6.49	41.98	69.52	160.15
Depreciation & Amortization	42.7	42.7	34.58	41.4	35.26	33.61
Other Amortization	0.91	0.91	1.05	0.17	0.27	0.35
Loss (Gain) From Sale of Assets	-0.57	-0.57	-0.65	-2.09	-0.03	-0.03
Asset Writedown & Restructuring Costs	7.17	7.17	3.28	1.89	5.78	0.25
Loss (Gain) From Sale of Investments	11.89	11.89	1.76	-15.53	-20.68	-32.74
Provision & Write-off of Bad Debts	-	-	11.83	7.95	5.33	16.43
Other Operating Activities	36.37	36.3	12.95	10.78	9.76	9.25
Change in Accounts Receivable	121.28	121.28	67.38	-46.58	-183.34	-149.11
Change in Inventory	-52.53	-52.53	36.57	34.83	-0.23	-4.27
Change in Accounts Payable	-39.3	-39.3	-92.18	-68.94	19.25	-49.19
Change in Other Net Operating Assets	0.83	0.83	-	-	-	-
Operating Cash Flow	24.5	30.77	81.57	8.3	-57.74	-20.3
Operating Cash Flow Growth	-70.76%	-62.28%	882.63%	-	-	-
Capital Expenditures	-7.4	-5.65	-62.59	-139.64	-70.33	-27.39
Sale of Property, Plant & Equipment	2.15	1.99	0.03	0.31	0.17	0.03
Investment in Securities	35.64	-34.36	-54.06	181.23	95	-198
Other Investing Activities	-2.02	-2.83	13.51	16.21	24.03	25.64
Investing Cash Flow	28.38	-40.85	-103.11	58.11	48.87	-199.73
Long-Term Debt Issued	-	45	133.05	0.81	107.94	50
Total Debt Issued	10	45	133.05	0.81	107.94	50
Long-Term Debt Repaid	-	-103.77	-91.62	-30.59	-	-50
Total Debt Repaid	-102.77	-103.77	-91.62	-30.59	-	-50
Net Debt Issued (Repaid)	-92.77	-58.77	41.43	-29.77	107.94	-
Common Dividends Paid	-6.01	-6.51	-15.49	-4.13	-54.43	-
Other Financing Activities	-0.04	-0.04	1.1	-1	1.9	-0.74
Financing Cash Flow	-98.83	-65.33	27.03	-34.91	55.41	-0.74
Net Cash Flow	-45.96	-75.41	5.49	31.5	46.53	-220.77
Free Cash Flow	17.09	25.12	18.98	-131.33	-128.07	-47.7
Free Cash Flow Growth	-47.47%	32.33%	-	-	-	-
Free Cash Flow Margin	4.43%	6.30%	3.12%	-20.42%	-16.76%	-5.50%
Free Cash Flow Per Share	0.10	0.14	0.10	-1.00	-0.70	-0.26
Cash Interest Paid	-	-	-	-	3.95	0.74
Cash Income Tax Paid	21.83	21.83	17.28	28.12	69.42	46.81
Levered Free Cash Flow	-43.07	-414.94	-7.81	-296.6	-21.77	54.03
Unlevered Free Cash Flow	-43.07	-414.94	-4.06	-293.54	-19.3	54.49
Change in Working Capital	21.76	21.76	10.28	-78.26	-162.95	-207.55

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