SHE:300965 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	27.55	36.07	26.74	-167.41	33.12	67.87
Depreciation & Amortization	11.06	11.06	11.3	11.1	10.3	4.73
Other Amortization	0.32	0.32	0.33	0.05	0.05	0.17
Loss (Gain) From Sale of Assets	0.05	0.05	-0.07	-0.01	-	-0.05
Asset Writedown & Restructuring Costs	0	0	0	0	0.34	2.2
Loss (Gain) From Sale of Investments	-18.53	-18.53	-19.12	-21.13	-9.37	-1.71
Provision & Write-off of Bad Debts	-1.32	-1.32	12.89	-35.33	28.29	5.73
Other Operating Activities	22.36	10.21	7.78	5.22	1	0.01
Change in Accounts Receivable	-6.75	-6.75	2.95	287.99	-96.23	46.99
Change in Inventory	14.62	14.62	-13.65	-34.18	-0.65	-13.51
Change in Accounts Payable	10.04	10.04	-66.18	-102.74	52.23	-14.11
Change in Other Net Operating Assets	6.17	6.17	0.85	2.64	4.78	5.79
Operating Cash Flow	65.56	61.93	-36.16	-42.85	19.64	103.09
Operating Cash Flow Growth	-	-	-	-	-80.95%	-12.02%
Capital Expenditures	-11.61	-4.61	-1.87	-7.19	-13.09	-61.49
Sale of Property, Plant & Equipment	0.68	0.52	0.34	0.47	-	0.08
Investment in Securities	-233	-152	-53.5	-181	-450	-
Other Investing Activities	34.75	34.73	17.61	10.83	3.19	1.71
Investing Cash Flow	-209.18	-121.36	-37.42	-176.89	-459.9	-59.71
Long-Term Debt Repaid	-	-0.06	-0.06	-0.06	-0.06	-0.06
Net Debt Issued (Repaid)	-0.06	-0.06	-0.06	-0.06	-0.06	-0.06
Issuance of Common Stock	-	-	-	-	-	875.05
Common Dividends Paid	-34.8	-34.8	-1.8	-4.5	-12.3	-18
Other Financing Activities	-	-	-	-	-	-16.37
Financing Cash Flow	-34.86	-34.86	-1.86	-4.56	-12.36	840.62
Net Cash Flow	-178.48	-94.29	-75.45	-224.3	-452.62	884
Free Cash Flow	53.96	57.32	-38.04	-50.03	6.56	41.6
Free Cash Flow Growth	-	-	-	-	-84.24%	-38.00%
Free Cash Flow Margin	29.28%	28.59%	-21.13%	-	3.57%	21.79%
Free Cash Flow Per Share	0.90	0.95	-0.63	-0.83	0.11	0.74
Cash Income Tax Paid	-	-18.41	2.65	33.93	9.42	27.99
Levered Free Cash Flow	241.66	41.6	-56.86	32.52	-14.24	18.22
Unlevered Free Cash Flow	241.67	41.6	-56.85	32.52	-14.24	18.22
Change in Working Capital	24.08	24.08	-76.02	164.66	-44.08	24.16

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