SHE:300911 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	-73.3	26.54	179.02	209.72	209.55	143.76
Depreciation & Amortization	52.64	52.64	39.79	26.17	21.18	15.76
Other Amortization	5.4	5.4	4.11	3.26	0.71	0.01
Loss (Gain) From Sale of Assets	-0.17	-0.17	0.07	0.04	-0.04	-0
Asset Writedown & Restructuring Costs	2.78	2.78	2.19	19.42	6.97	3.61
Loss (Gain) From Sale of Investments	-9.02	-9.02	-12.76	-15.84	-19.99	-0.16
Other Operating Activities	94.68	28.09	11.84	3.91	5.36	0.12
Change in Accounts Receivable	14.96	14.96	-45.71	-11.35	-49.38	-9.44
Change in Inventory	-9.91	-9.91	8.48	8.44	-43.46	-7.77
Change in Accounts Payable	-80.1	-80.1	-29.58	-67.17	164.35	59.29
Operating Cash Flow	-13.29	19.95	152.18	164.38	279.79	203.51
Operating Cash Flow Growth	-	-86.89%	-7.42%	-41.25%	37.48%	92.69%
Capital Expenditures	-124.3	-134.53	-143.98	-328.21	-67.18	-29.15
Sale of Property, Plant & Equipment	8.99	0.21	0.05	0.44	0.11	0.01
Cash Acquisitions	-0.02	-0	-	-	-	-
Investment in Securities	-583.9	-260	-	280.24	-80.24	-200
Other Investing Activities	12.72	9.29	12.76	15.84	19.99	0.16
Investing Cash Flow	-686.51	-385.03	-131.18	-31.69	-127.32	-228.98
Total Debt Issued	110	-	-	-	-	-
Long-Term Debt Repaid	-	-2.02	-2.52	-1.94	-3.72	-
Total Debt Repaid	-2.02	-2.02	-2.52	-1.94	-3.72	-
Net Debt Issued (Repaid)	107.98	-2.02	-2.52	-1.94	-3.72	-
Issuance of Common Stock	-	-	517.85	-	42.81	649.33
Repurchase of Common Stock	-50	-50	-18.71	-20.49	-	-
Common Dividends Paid	-138.66	-107.05	-64.44	-64.86	-53.33	-
Other Financing Activities	40.55	-	-2.92	-	-	-52.72
Financing Cash Flow	-40.13	-159.07	429.27	-87.29	-14.24	596.62
Foreign Exchange Rate Adjustments	-0	0.05	0.04	0.17	-0.25	-0.12
Net Cash Flow	-739.94	-524.1	450.31	45.57	137.99	571.03
Free Cash Flow	-137.59	-114.57	8.2	-163.82	212.62	174.35
Free Cash Flow Growth	-	-	-	-	21.95%	105.14%
Free Cash Flow Margin	-27.60%	-16.30%	0.67%	-12.84%	17.29%	24.34%
Free Cash Flow Per Share	-0.76	-0.64	0.04	-0.91	1.18	1.26
Cash Income Tax Paid	52.05	49.57	110.46	123.07	119.86	53.22
Levered Free Cash Flow	-28.32	-33.89	-122.66	-282.35	213.87	103.62
Unlevered Free Cash Flow	-9.94	-16.3	-122.04	-282.2	214.08	103.62
Change in Working Capital	-86.3	-86.3	-72.09	-82.3	56.06	40.42

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