SHE:300896 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	1,465	1,958	1,858	1,264	957.98	439.75
Depreciation & Amortization	43.78	43.78	44.49	26.43	18.67	10.98
Other Amortization	11.26	11.26	8.12	2.2	1.04	0.09
Loss (Gain) From Sale of Assets	-0.07	-0.07	-0.01	-0	0.01	0
Asset Writedown & Restructuring Costs	0	0	0.12	2.79	2.62	-0.56
Loss (Gain) From Sale of Investments	-99.01	-99.01	-23.59	-62.54	-45.85	-14.73
Provision & Write-off of Bad Debts	-1.88	-1.88	4.12	-	-	-
Other Operating Activities	30.86	0.97	-0.83	7.17	1.67	-6.36
Change in Accounts Receivable	50.95	50.95	-102.61	-25.2	-60.5	-9.57
Change in Inventory	-16.45	-16.45	-3.06	-5.61	-8.14	-3.4
Change in Accounts Payable	-8.91	-8.91	138.31	-29.31	70.2	9.31
Change in Other Net Operating Assets	-15.2	-15.2	47	-	-	-
Operating Cash Flow	1,465	1,927	1,954	1,194	942.78	425.68
Operating Cash Flow Growth	-27.60%	-1.38%	63.67%	26.64%	121.48%	37.44%
Capital Expenditures	-185.77	-239.24	-63.68	-155.68	-23.03	-32.11
Sale of Property, Plant & Equipment	0.01	0.02	0.02	0	0.01	0.01
Cash Acquisitions	-1,401	-5.17	-70	-238.92	-	-
Investment in Securities	770.52	-2,148	-1,173	-573.76	-651.53	-899.3
Other Investing Activities	56.74	35.5	27.46	24.65	26.77	15.14
Investing Cash Flow	-759.23	-2,357	-1,279	-943.71	-647.78	-916.25
Long-Term Debt Repaid	-	-20.42	-15.46	-15.27	-8.75	-
Net Debt Issued (Repaid)	-20.42	-20.42	-15.46	-15.27	-8.75	-
Issuance of Common Stock	30.49	30.49	-	-	-	3,473
Repurchase of Common Stock	-	-	-399.78	-	-	-
Common Dividends Paid	-1,513	-499.9	-1,005	-454.36	-420.7	-
Other Financing Activities	402.84	-0.3	40.15	95.45	-57.85	-32.51
Financing Cash Flow	-1,100	-490.13	-1,380	-374.18	-487.3	3,441
Foreign Exchange Rate Adjustments	-20.16	0.45	-0.83	-	-	-
Net Cash Flow	-414.3	-919.88	-705.74	-123.96	-192.3	2,950
Free Cash Flow	1,279	1,688	1,890	1,038	919.75	393.57
Free Cash Flow Growth	-31.32%	-10.71%	82.07%	12.88%	133.69%	42.02%
Free Cash Flow Margin	50.85%	55.79%	65.88%	53.55%	63.52%	55.49%
Free Cash Flow Per Share	4.25	5.61	6.26	3.43	3.04	1.60
Cash Income Tax Paid	485.42	557.64	416.65	294.75	195.61	86.19
Levered Free Cash Flow	977.7	1,188	1,238	725.24	626.99	276.66
Unlevered Free Cash Flow	981.08	1,189	1,239	727.21	628.32	276.66
Change in Working Capital	14.53	14.53	63.17	-45.67	6.64	-3.49

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.