SHE:300971 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	73.75	43.79	66.26	61.9	85.77	83.79
Depreciation & Amortization	31.72	31.72	27.05	24.08	21.9	19.39
Other Amortization	0.87	0.87	0.2	0.14	0.14	0.14
Loss (Gain) From Sale of Assets	-0.05	-0.05	-0.36	-0.05	-0.12	-0
Asset Writedown & Restructuring Costs	-0.03	-0.03	-	-0.01	-	2.95
Loss (Gain) From Sale of Investments	-1.53	-1.53	-4.67	-2.26	-1.49	-0.04
Provision & Write-off of Bad Debts	-	-	-	-	3.09	-
Other Operating Activities	-32.52	0.38	1.01	6.75	1.47	2.08
Change in Accounts Receivable	19.3	19.3	-158.13	-26.57	-46.28	-89.43
Change in Inventory	-0.49	-0.49	-45.39	13.57	-5.8	9.87
Change in Accounts Payable	-36.89	-36.89	91.89	9.55	27.17	20.84
Change in Other Net Operating Assets	4.62	4.62	3.22	3.78	-	-
Operating Cash Flow	57.33	60.28	-19.86	85.81	86.12	50.3
Operating Cash Flow Growth	18.18%	-	-	-0.36%	71.23%	-27.26%
Capital Expenditures	-11.67	-18.94	-16.69	-13.76	-30.08	-10.53
Sale of Property, Plant & Equipment	0.07	0.11	0.16	0.02	0.15	0.18
Cash Acquisitions	-	-	-	5.63	-	-
Divestitures	0	-	-33.08	-	-	-
Investment in Securities	-4.95	56.84	-77	175.02	-205.02	20
Other Investing Activities	-4.54	9.35	0.91	2.81	0.9	0.25
Investing Cash Flow	-21.1	47.36	-125.7	169.72	-234.05	9.91
Short-Term Debt Issued	-	50	36	35	30	40
Total Debt Issued	30	50	36	35	30	40
Short-Term Debt Repaid	-	-30	-38	-43.5	-40	-40
Long-Term Debt Repaid	-	-0.98	-2.59	-1.87	-0.62	-
Total Debt Repaid	-50.98	-30.98	-40.59	-45.37	-40.62	-40
Net Debt Issued (Repaid)	-20.98	19.02	-4.59	-10.37	-10.62	-
Issuance of Common Stock	6.2	-	-	-	383.04	-
Common Dividends Paid	-21.85	-21.86	-21.53	-34.89	-35.77	-25.85
Dividends Paid	-21.85	-21.86	-21.53	-34.89	-35.77	-25.85
Other Financing Activities	4.93	4.8	7.25	6.63	-39.33	-2.6
Financing Cash Flow	-31.7	1.96	-18.87	-38.63	297.31	-28.45
Foreign Exchange Rate Adjustments	0	0	0	0.02	-0	-0
Net Cash Flow	4.54	109.6	-164.43	216.92	149.39	31.75
Free Cash Flow	45.66	41.34	-36.55	72.05	56.05	39.77
Free Cash Flow Growth	69.88%	-	-	28.56%	40.92%	-36.38%
Free Cash Flow Margin	8.96%	10.73%	-8.55%	17.38%	14.28%	10.92%
Free Cash Flow Per Share	0.38	0.35	-0.31	0.61	0.52	0.45
Cash Income Tax Paid	28.21	6.72	27.89	15.55	33.6	31.31
Levered Free Cash Flow	70.39	56.75	-1.85	97.29	39.29	17.05
Unlevered Free Cash Flow	71.19	57.49	-1.42	98.25	40.05	18.14
Change in Working Capital	-14.88	-14.88	-109.36	-4.75	-24.64	-58.01

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