SHE:300987 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	20.18	20.63	23.8	31.32	28.15	82.61
Depreciation & Amortization	76.97	76.97	39.61	20.44	18.41	15.35
Other Amortization	7.29	7.29	2.12	0.75	0.64	0.64
Loss (Gain) From Sale of Assets	-0.06	-0.06	-0.05	0.01	0.04	0.01
Asset Writedown & Restructuring Costs	0.69	0.69	2.22	0.01	-	-1.11
Loss (Gain) From Sale of Investments	2.95	2.95	2.46	-2.67	1.12	-76.23
Provision & Write-off of Bad Debts	0.67	0.67	3.31	2.74	1.67	1.43
Other Operating Activities	-13.86	3.39	-0.2	-3.84	-0.64	-0.64
Change in Accounts Receivable	16.11	16.11	-31.43	-13.13	5.13	-7.69
Change in Inventory	-0.04	-0.04	-0.18	-1.06	-	-
Change in Accounts Payable	2.23	2.23	25.43	13.72	-17.15	3.6
Operating Cash Flow	112.05	129.75	69.8	46.42	37.24	18.05
Operating Cash Flow Growth	18.99%	85.89%	50.37%	24.65%	106.25%	-69.66%
Capital Expenditures	-5.66	-7.42	-28.92	-14.18	-3.04	-6.56
Sale of Property, Plant & Equipment	0.31	0.32	-	0	0	0
Investment in Securities	37.5	37.5	60.81	40.3	10.81	101.88
Other Investing Activities	-20.94	0.1	-84.9	-84.9	-10	-93.98
Investing Cash Flow	11.21	30.49	-53	-58.78	-2.23	1.34
Long-Term Debt Repaid	-	-82.98	-35.67	-9.08	-4.51	-5.46
Net Debt Issued (Repaid)	-82.98	-82.98	-35.67	-9.08	-4.51	-5.46
Issuance of Common Stock	-	-	-	-	-	199.63
Common Dividends Paid	-21.67	-21.67	-29.47	-27.74	-26.67	-
Other Financing Activities	1.88	0.35	-0.15	-	-	-11.43
Financing Cash Flow	-102.78	-104.31	-65.29	-36.82	-31.18	182.73
Net Cash Flow	20.48	55.93	-48.49	-49.19	3.82	202.12
Free Cash Flow	106.39	122.32	40.88	32.23	34.2	11.5
Free Cash Flow Growth	40.68%	199.23%	26.82%	-5.74%	197.47%	-80.03%
Free Cash Flow Margin	35.10%	39.62%	14.19%	13.44%	17.36%	6.07%
Free Cash Flow Per Share	0.55	0.71	0.24	0.18	0.19	0.07
Cash Income Tax Paid	7.27	9.08	7.91	7.72	32.56	3.75
Levered Free Cash Flow	-2.49	86.61	20.21	27.26	16.06	61.04
Unlevered Free Cash Flow	1.89	90.98	22.35	27.61	16.35	61.24
Change in Working Capital	17.23	17.23	-3.47	-2.36	-12.16	-4.01

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