SHE:300959 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-9.58	30.46	26.39	50.12	84.9
Depreciation & Amortization	7.24	9.69	10.63	8.93	6.89
Other Amortization	1.79	1.88	2.12	3.44	2.08
Loss (Gain) From Sale of Assets	-0.02	0.36	0.14	0	-0.15
Asset Writedown & Restructuring Costs	-2.14	-	0	-	-
Loss (Gain) From Sale of Investments	1.05	-6.81	-3.31	-5.73	-5.09
Provision & Write-off of Bad Debts	-	8.78	4.86	23.42	1.28
Other Operating Activities	2.14	13.07	0.07	0.05	0.95
Change in Accounts Receivable	93.3	-12.41	-26.55	-199.14	-19.39
Change in Inventory	6.21	15.2	-4.76	-16.64	-
Change in Accounts Payable	-39.69	69.23	-41.97	72.09	-8.26
Change in Other Net Operating Assets	-	-	3.75	7.66	-
Operating Cash Flow	67.33	125.21	-34.08	-62.56	62.41
Operating Cash Flow Growth	-46.22%	-	-	-	938.87%
Capital Expenditures	-22.67	-3.16	-6.45	-48.37	-20.53
Sale of Property, Plant & Equipment	3.01	0	0.12	-	1.52
Cash Acquisitions	-	-24.81	-	-	-
Investment in Securities	34.75	-57.8	-66.06	95	-450
Other Investing Activities	4.13	6.42	3.04	5.61	3.25
Investing Cash Flow	19.22	-79.34	-69.35	52.24	-465.76
Short-Term Debt Issued	-	97.28	83	59.38	-
Long-Term Debt Issued	30	-	-	-	-
Total Debt Issued	30	97.28	83	59.38	-
Short-Term Debt Repaid	-	-129.45	-63	-	-63
Long-Term Debt Repaid	-57.65	-2.3	-4.45	-3.3	-2.23
Total Debt Repaid	-57.65	-131.75	-67.45	-3.3	-65.23
Net Debt Issued (Repaid)	-27.65	-34.47	15.55	56.07	-65.23
Issuance of Common Stock	-	-	18.21	-	768.8
Repurchase of Common Stock	-	-23.18	-	-	-
Common Dividends Paid	-27.06	-22.23	-24.59	-26.4	-24.76
Other Financing Activities	-29.21	-7.94	-	-	-15.96
Financing Cash Flow	-83.92	-87.82	9.17	29.67	662.85
Foreign Exchange Rate Adjustments	-0.02	0.02	-0.01	-0.01	-
Net Cash Flow	2.62	-41.93	-94.27	19.35	259.5
Free Cash Flow	44.66	122.05	-40.53	-110.93	41.88
Free Cash Flow Growth	-63.41%	-	-	-	-
Free Cash Flow Margin	7.72%	10.75%	-2.73%	-5.73%	3.23%
Free Cash Flow Per Share	0.57	1.52	-0.51	-1.39	0.56
Cash Income Tax Paid	13.76	9.46	13.23	11.73	23.37
Levered Free Cash Flow	80.6	26.07	-104.86	-122.73	18.14
Unlevered Free Cash Flow	80.6	26.65	-104.38	-122.29	18.73
Change in Working Capital	66.83	67.78	-74.98	-142.81	-28.45

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