SHE:300962 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	119.7	121.87	108.87	108.08	107.73	87.12
Depreciation & Amortization	83.83	83.83	70.34	67.69	63.52	65.13
Other Amortization	2.14	2.14	2.41	2.26	2.19	2.21
Loss (Gain) From Sale of Assets	-	-	-	-	0	0.44
Asset Writedown & Restructuring Costs	0.01	0.01	0.09	0.06	0.54	0.11
Provision & Write-off of Bad Debts	-	-	0.42	-0.02	-	-
Other Operating Activities	-1.95	3.3	6.61	6.6	4.88	6.41
Change in Accounts Receivable	-29.72	-29.72	-2.93	1.76	-8.65	48.18
Change in Inventory	-0.67	-0.67	0.03	0.25	-0.05	-0.4
Change in Accounts Payable	45.45	45.45	8.68	1.17	8.14	-35.76
Operating Cash Flow	210.05	217.48	194.01	188.38	185.43	175.55
Operating Cash Flow Growth	15.15%	12.10%	2.99%	1.59%	5.63%	24.93%
Capital Expenditures	-332.41	-305.13	-163.72	-85.27	-118.04	-65.07
Sale of Property, Plant & Equipment	208.42	45.65	0.01	0.04	0	0.1
Investment in Securities	-	-	-	7.3	-	-
Other Investing Activities	-0.05	-0.05	-0.02	-0.06	-	3.2
Investing Cash Flow	-124.04	-259.53	-163.74	-78	-118.04	-61.77
Long-Term Debt Issued	-	30	-	-	-	-
Total Debt Issued	112.69	30	-	-	-	-
Short-Term Debt Repaid	-	-	-	-	-	-30
Long-Term Debt Repaid	-	-	-	-	-1.95	-1.78
Total Debt Repaid	-	-	-	-	-1.95	-31.78
Net Debt Issued (Repaid)	112.69	30	-	-	-1.95	-31.78
Issuance of Common Stock	-	-	-	-	-	209.31
Common Dividends Paid	-35.66	-35.38	-69.21	-73.88	-57.38	-39.19
Other Financing Activities	6.18	0.27	-0.39	-5.11	-1.76	25.2
Financing Cash Flow	83.21	-5.11	-69.6	-78.99	-61.09	163.54
Foreign Exchange Rate Adjustments	-	-	-	0	-	0.01
Net Cash Flow	169.22	-47.16	-39.32	31.4	6.3	277.33
Free Cash Flow	-122.36	-87.65	30.29	103.11	67.39	110.48
Free Cash Flow Growth	-	-	-70.63%	53.01%	-39.00%	97.27%
Free Cash Flow Margin	-33.55%	-24.08%	8.45%	29.91%	19.99%	35.75%
Free Cash Flow Per Share	-0.46	-0.33	0.12	0.39	0.26	0.45
Cash Income Tax Paid	42.93	35.74	33.81	40.74	36.64	34.86
Levered Free Cash Flow	-76.31	-122.75	-7	56.5	30.68	74.65
Unlevered Free Cash Flow	-76.31	-122.75	-5.52	57.53	31.99	76.29
Change in Working Capital	6.33	6.33	5.27	3.71	6.58	14.13

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