SHE:300940 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	132.31	20.63	-305.25	-45.48	42.04	69.67
Depreciation & Amortization	32.69	32.69	53.66	43.44	35.16	18.82
Other Amortization	5.9	5.9	7.67	7.42	3.89	3.51
Loss (Gain) From Sale of Assets	-0.12	-0.12	0.07	3.53	-0.08	1.42
Asset Writedown & Restructuring Costs	0.05	0.05	94.35	0.56	0.26	2.35
Loss (Gain) From Sale of Investments	-16.57	-16.57	-0.95	0.13	-0.67	-0.46
Provision & Write-off of Bad Debts	12.23	12.23	36.02	-2.37	-5.69	4
Other Operating Activities	63.19	7.04	18.69	12.05	13.47	9.7
Change in Accounts Receivable	-56.28	-56.28	155.01	186.85	158.61	-180.35
Change in Inventory	-42.91	-42.91	7.13	8.89	47.34	-51.85
Change in Accounts Payable	11.29	11.29	-96.42	-131.85	-223.03	184.27
Change in Other Net Operating Assets	0.22	0.22	38.82	17.59	0.27	0.05
Operating Cash Flow	136.04	-31.8	15.42	91.96	69.4	62.33
Operating Cash Flow Growth	-	-	-83.23%	32.51%	11.34%	-9.61%
Capital Expenditures	-13.41	-24.9	-32.01	-155.87	-68.47	-35.93
Sale of Property, Plant & Equipment	0.97	0.85	6.64	6.82	0.14	0.31
Investment in Securities	40.23	-248.44	-380	27.5	-30	10.91
Other Investing Activities	0.58	1.31	-	0.27	0.5	0.46
Investing Cash Flow	28.37	-271.18	-405.37	-121.29	-97.83	-24.25
Short-Term Debt Issued	-	15.68	34.31	-	10	-
Total Debt Issued	49.75	15.68	34.31	-	10	-
Short-Term Debt Repaid	-	-30	-	-10	-	-17.05
Long-Term Debt Repaid	-	-17.7	-19.98	-26.9	-11.8	-
Total Debt Repaid	-28.7	-47.7	-19.98	-36.9	-11.8	-17.05
Net Debt Issued (Repaid)	21.05	-32.02	14.33	-36.9	-1.8	-17.05
Issuance of Common Stock	-	-	511.68	10.3	347.78	-
Common Dividends Paid	-0.69	-0.53	-0.31	-18.09	-9.62	-0.5
Other Financing Activities	30	22.22	-31.98	-0.99	-34.1	-6.3
Financing Cash Flow	50.37	-10.33	493.72	-45.68	302.25	-23.85
Foreign Exchange Rate Adjustments	-0.19	0.36	0.5	1.37	-0.76	-0.2
Net Cash Flow	214.6	-312.95	104.27	-73.64	273.06	14.03
Free Cash Flow	122.63	-56.7	-16.59	-63.91	0.93	26.4
Free Cash Flow Growth	-	-	-	-	-96.46%	-43.22%
Free Cash Flow Margin	14.70%	-12.40%	-3.54%	-9.95%	0.10%	2.50%
Free Cash Flow Per Share	0.55	-0.26	-0.09	-0.34	0.01	0.19
Cash Income Tax Paid	-	-25.51	8.86	23.68	4.7	37.26
Levered Free Cash Flow	29.35	-90.65	2.34	-66.15	-25.91	39.09
Unlevered Free Cash Flow	33.03	-86.74	7.06	-62.31	-23.55	39.38
Change in Working Capital	-93.64	-93.64	114.41	71.4	-19.04	-48.18

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