SHE:300970 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	3.86	-47.57	30.35	78.25	15.5	132.5
Depreciation & Amortization	167.48	167.48	133.58	98.99	84.49	76.09
Other Amortization	0.73	0.73	0.27	0.26	0.02	0.01
Loss (Gain) From Sale of Assets	1.48	1.48	10.89	1.33	0.26	0.01
Asset Writedown & Restructuring Costs	0.4	0.4	-0.09	0.36	0.65	0.04
Loss (Gain) From Sale of Investments	-0.09	-0.09	-0.37	-4.2	-2.25	-1.98
Other Operating Activities	68.98	26.1	13.23	5.43	4.61	6.48
Change in Accounts Receivable	-0.19	-0.19	-5.27	20.71	-22.5	-5.9
Change in Inventory	-15.18	-15.18	-31.12	-52.48	-24.1	-17.95
Change in Accounts Payable	2.72	2.72	12.84	30.61	26.39	9.78
Change in Other Net Operating Assets	1.91	1.91	2.36	0.6	-	-
Operating Cash Flow	232.1	137.8	166.67	179.84	83.08	199.09
Operating Cash Flow Growth	135.57%	-17.32%	-7.32%	116.46%	-58.27%	-6.95%
Capital Expenditures	-134.26	-268.22	-224.15	-407.91	-204.09	-190.96
Sale of Property, Plant & Equipment	0.09	0.06	1.34	0.13	-	0.14
Investment in Securities	-	-	99.7	398.12	-441.64	33.92
Other Investing Activities	16.17	-0.08	0.54	4.37	2.02	1.95
Investing Cash Flow	-118.01	-268.24	-122.58	-5.29	-643.72	-154.95
Long-Term Debt Issued	-	251.03	75.26	141.7	169.66	112.49
Long-Term Debt Repaid	-	-133.84	-129.56	-157.07	-55.78	-89.36
Net Debt Issued (Repaid)	13.64	117.19	-54.3	-15.37	113.88	23.13
Issuance of Common Stock	20.65	24.66	16.96	-	609.28	-
Common Dividends Paid	-11.53	-33.55	-35.55	-2.69	-35.77	-28.82
Other Financing Activities	2.38	-27.63	6.5	4.1	-7.69	3.51
Financing Cash Flow	25.15	80.67	-66.39	-13.97	679.7	-2.18
Foreign Exchange Rate Adjustments	-	-	-	-	0	-
Net Cash Flow	139.24	-49.77	-22.3	160.59	119.07	41.97
Free Cash Flow	97.83	-130.42	-57.48	-228.07	-121.01	8.13
Free Cash Flow Growth	-	-	-	-	-	-92.96%
Free Cash Flow Margin	8.40%	-12.64%	-5.77%	-30.34%	-20.93%	1.33%
Free Cash Flow Per Share	0.83	-1.12	-0.49	-1.95	-1.09	0.08
Cash Income Tax Paid	0.78	0.9	1.36	2.61	0.2	0.91
Levered Free Cash Flow	47.84	-106.77	-48.42	-255.83	-174.72	-57.98
Unlevered Free Cash Flow	58.56	-99.78	-42.96	-254.15	-172.32	-53.75
Change in Working Capital	-10.74	-10.74	-21.2	-0.57	-20.2	-14.07

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