SHE:300967 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	236.42	44.81	-154.77	7.32	81.85	50.25
Depreciation & Amortization	175.69	175.69	126.33	86.35	71.55	68.55
Other Amortization	3.37	3.37	2.21	3.73	3.04	2.51
Loss (Gain) From Sale of Assets	-	-	-	-0.52	-0.26	-
Asset Writedown & Restructuring Costs	0.53	0.53	3.49	1.99	1.34	2.95
Loss (Gain) From Sale of Investments	-1.26	-1.26	-0.78	-0	-	-
Provision & Write-off of Bad Debts	0.84	0.84	0.77	0.14	-	-
Other Operating Activities	-72.72	22.22	48.3	11.12	8.56	5.4
Change in Accounts Receivable	-3.37	-3.37	-17.68	-2.95	-2.13	-13.93
Change in Inventory	-17.19	-17.19	23.79	-14.12	-32.36	6.45
Change in Accounts Payable	81.85	81.85	24.19	12.11	46.4	-33.6
Change in Other Net Operating Assets	-1.47	-1.47	5.29	2.3	-2.5	-3.7
Operating Cash Flow	402.69	306.02	61.13	107.46	175.48	84.87
Operating Cash Flow Growth	144.05%	400.62%	-43.12%	-38.76%	106.77%	-54.33%
Capital Expenditures	-108.43	-136.4	-284.2	-473.34	-187.92	-167.54
Sale of Property, Plant & Equipment	0.03	0.02	0	0.49	0.03	-
Investment in Securities	33.02	11.28	-41.29	-	0	-
Other Investing Activities	0.34	0.03	-	-0.43	-0.27	-
Investing Cash Flow	-75.04	-125.07	-325.49	-473.28	-188.16	-167.54
Long-Term Debt Issued	-	70	107	297.35	72.8	145.75
Long-Term Debt Repaid	-	-107.4	-96.35	-58.17	-59.89	-51.65
Net Debt Issued (Repaid)	-193.58	-37.4	10.65	239.18	12.91	94.1
Issuance of Common Stock	-	-	-	31.63	167.38	-
Common Dividends Paid	-50.59	-17.27	-17.65	-50.07	-25.28	-7
Dividends Paid	-50.59	-17.27	-17.65	-50.07	-25.28	-7
Other Financing Activities	-44.05	-22.68	316.46	-0.01	-14.41	-0.72
Financing Cash Flow	-288.22	-77.36	309.46	220.73	140.6	86.38
Net Cash Flow	39.43	103.59	45.1	-145.09	127.92	3.71
Free Cash Flow	294.26	169.62	-223.07	-365.88	-12.43	-82.67
Free Cash Flow Margin	21.79%	17.47%	-26.85%	-46.58%	-1.72%	-15.31%
Free Cash Flow Per Share	1.58	0.91	-1.20	-2.00	-0.07	-0.59
Cash Income Tax Paid	4.28	3.69	2.74	2.42	1.75	1.02
Levered Free Cash Flow	152.73	51.9	-259.2	-317.06	-92.57	-82.61
Unlevered Free Cash Flow	172.49	75.29	-239.45	-310.78	-87.94	-79.23
Change in Working Capital	59.82	59.82	35.59	-2.66	9.41	-44.79

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