SHE:300985 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	-193.17	-191.91	56.24	-51.56	19.32	225.11
Depreciation & Amortization	100.63	100.63	60.09	26.69	30.33	17.06
Other Amortization	2.08	2.08	0.96	0.56	-	-
Loss (Gain) From Sale of Assets	0.07	0.07	-	0.19	0.31	0.04
Asset Writedown & Restructuring Costs	142.27	142.27	-	29.32	-4.17	26.16
Loss (Gain) From Sale of Investments	35.17	35.17	5.89	2.47	2.04	4.68
Provision & Write-off of Bad Debts	15.78	15.78	6.16	-	-	-
Other Operating Activities	322.42	72.39	28.75	3.84	7.76	32.49
Change in Accounts Receivable	-81.79	-81.79	-176	67.07	191.23	-144.21
Change in Inventory	-26	-26	-379.07	-86.87	-5.89	-22.39
Change in Accounts Payable	-309.47	-309.47	461.48	40.43	-186.35	-53.39
Operating Cash Flow	0.03	-248.74	73.29	21.42	55.17	82.29
Operating Cash Flow Growth	-	-	242.11%	-61.16%	-32.96%	2.96%
Capital Expenditures	-50.58	-43.04	-167.2	-431.09	-163.01	-85.64
Sale of Property, Plant & Equipment	0.02	0.32	-	0.72	-	-
Cash Acquisitions	-	-	-	-	-2.1	-
Investment in Securities	-4.09	-4	4	-66.9	109	-130.54
Other Investing Activities	0.09	0.09	-	0.03	0.16	0.11
Investing Cash Flow	-54.56	-46.63	-163.2	-497.24	-55.95	-216.07
Short-Term Debt Issued	-	-	-	-	-	436.65
Long-Term Debt Issued	-	485	427	238	-	24
Total Debt Issued	590	485	427	238	-	460.65
Short-Term Debt Repaid	-	-	-	-	-	-395
Long-Term Debt Repaid	-	-281.59	-128.79	-91.66	-241.95	-11.88
Total Debt Repaid	-410.04	-281.59	-128.79	-91.66	-241.95	-406.88
Net Debt Issued (Repaid)	179.96	203.41	298.21	146.34	-241.95	53.77
Issuance of Common Stock	-	-	-	-	787.88	-
Repurchase of Common Stock	-15.44	-15.44	-	-	-	-
Common Dividends Paid	-45.94	-88.09	-27.11	-21.71	-21.57	-15.17
Other Financing Activities	-1.35	-1.06	-	-34.91	-10.33	-7.46
Financing Cash Flow	117.22	98.82	271.1	89.72	514.04	31.14
Foreign Exchange Rate Adjustments	-	-	-	0.01	-0.04	-
Net Cash Flow	62.69	-196.56	181.2	-386.09	513.21	-102.64
Free Cash Flow	-50.55	-291.78	-93.9	-409.67	-107.85	-3.35
Free Cash Flow Margin	-3.64%	-25.34%	-5.29%	-247.03%	-27.40%	-0.25%
Free Cash Flow Per Share	-0.27	-1.57	-0.50	-2.21	-0.64	-0.02
Cash Income Tax Paid	49.91	27.06	21.34	0.13	30.49	122.31
Levered Free Cash Flow	-160.55	-405.96	-71.49	-324.07	-98	-55.71
Unlevered Free Cash Flow	-143.79	-384.94	-57.11	-321.52	-93.92	-45.49
Change in Working Capital	-425.21	-425.21	-84.81	9.92	-0.42	-223.26

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