SHE:300906 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	58.83	57.36	75.32	60.63	30.61	40.68
Depreciation & Amortization	2.8	2.8	3.21	3.76	3.85	3.57
Other Amortization	-	-	0.09	-	-	-
Loss (Gain) From Sale of Assets	0.02	0.02	-2.59	-0.09	-	-0.14
Asset Writedown & Restructuring Costs	-0.92	-0.92	0.08	0	0.03	0.54
Loss (Gain) From Sale of Investments	-12.2	-12.2	-9.88	-9.82	-5.76	-6.22
Provision & Write-off of Bad Debts	-	-	-0.21	-0.87	1.8	-
Other Operating Activities	-17.58	4.18	0.33	1.5	0.17	-0.03
Change in Accounts Receivable	-92.18	-92.18	-46.56	-26.38	-20.12	-11
Change in Inventory	-5.26	-5.26	2.58	18.61	-14.88	-5.7
Change in Accounts Payable	84.64	84.64	37.66	-5.74	4.68	4.89
Change in Other Net Operating Assets	-	-	5.31	8.48	24.02	9.01
Operating Cash Flow	13.96	34.25	65.73	49.03	20.77	33.15
Operating Cash Flow Growth	-83.74%	-47.89%	34.06%	135.98%	-37.33%	-51.93%
Capital Expenditures	-4.16	-4.52	-8.47	-1.35	-0.88	-2.07
Sale of Property, Plant & Equipment	7.61	0.01	0.02	0.08	0	0.19
Investment in Securities	252.5	-97.5	-	200	-200	-
Other Investing Activities	12.86	12.86	10.5	10.9	6.18	6.51
Investing Cash Flow	268.81	-89.15	2.05	209.63	-194.7	4.64
Long-Term Debt Repaid	-	-	-0.19	-0.23	-0.23	-
Total Debt Repaid	-	-	-0.19	-0.23	-0.23	-
Net Debt Issued (Repaid)	-	-	-0.19	-0.23	-0.23	-
Common Dividends Paid	-40.29	-40.29	-40	-16	-24	-40
Dividends Paid	-40.29	-40.29	-40	-16	-24	-40
Other Financing Activities	18.23	18.23	-	-	-	-1
Financing Cash Flow	-22.06	-22.06	-40.19	-16.23	-24.23	-41
Net Cash Flow	260.71	-76.95	27.58	242.43	-198.16	-3.21
Free Cash Flow	9.8	29.73	57.26	47.67	19.9	31.08
Free Cash Flow Growth	-87.47%	-48.07%	20.10%	139.62%	-35.99%	-14.76%
Free Cash Flow Margin	5.66%	17.43%	35.63%	30.92%	17.46%	25.22%
Free Cash Flow Per Share	0.12	0.37	0.72	0.60	0.25	0.39
Cash Income Tax Paid	23.74	18.33	22.2	17.24	10.94	14.01
Levered Free Cash Flow	-222.73	-76.03	25.65	31.67	13.61	6.01
Unlevered Free Cash Flow	-222.73	-76.03	25.66	31.69	13.63	6.01
Change in Working Capital	-16.99	-16.99	-0.64	-6.09	-9.93	-5.25

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