SHE:300990 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	250.77	252.9	153.43	182.38	127.81	119.95
Depreciation & Amortization	61.27	61.27	55.92	40.86	26.15	10.37
Other Amortization	1.33	1.33	-	-	-	-
Loss (Gain) From Sale of Assets	0.05	0.05	0.03	0	-0.14	0.13
Asset Writedown & Restructuring Costs	5.42	5.42	11.38	25.02	6.85	6.29
Loss (Gain) From Sale of Investments	-1.48	-1.48	-3.42	-7.09	-13.97	-14.25
Other Operating Activities	213.59	-1.18	0.55	-1.57	-1.62	1.7
Change in Accounts Receivable	-205.4	-205.4	-216.78	-429.61	-119.18	-84.7
Change in Inventory	33.56	33.56	-141.38	22.82	-100.8	-43
Change in Accounts Payable	26.06	26.06	221.38	180.93	98.75	59.6
Change in Other Net Operating Assets	19.89	19.89	33.89	23.57	3.14	-
Operating Cash Flow	402.07	189.43	111.18	31.16	29.89	56.67
Operating Cash Flow Growth	208.65%	70.39%	256.78%	4.27%	-47.27%	-47.27%
Capital Expenditures	-22.77	-26.23	-91.88	-210.76	-272.22	-196.8
Sale of Property, Plant & Equipment	0.92	0.11	0.02	0.01	0.24	0.12
Investment in Securities	151.67	201.67	14.79	235.49	411.7	-782.73
Other Investing Activities	-0.77	-	-	-	1.63	0.04
Investing Cash Flow	129.06	175.55	-77.07	24.74	141.35	-979.37
Short-Term Debt Issued	-	-	-	2.51	-	-
Total Debt Issued	-	-	-	2.51	-	-
Short-Term Debt Repaid	-	-	-2.5	-	-	-
Long-Term Debt Repaid	-	-5.7	-4.58	-4.02	-0.87	-0.41
Total Debt Repaid	-5.7	-5.7	-7.08	-4.02	-0.87	-0.41
Net Debt Issued (Repaid)	-5.7	-5.7	-7.08	-1.51	-0.87	-0.41
Issuance of Common Stock	1.1	1.1	24.71	-	-	1,029
Common Dividends Paid	-84.94	-84.7	-84.24	-74.9	-52	-41.6
Other Financing Activities	30.56	31.55	-	-	-	-29.56
Financing Cash Flow	-58.98	-57.75	-66.61	-76.41	-52.87	956.98
Foreign Exchange Rate Adjustments	-2.96	3.26	-0.68	2.21	1.77	-1.92
Net Cash Flow	469.19	310.49	-33.19	-18.3	120.13	32.37
Free Cash Flow	379.31	163.2	19.29	-179.59	-242.33	-140.13
Free Cash Flow Growth	605.19%	745.88%	-	-	-	-
Free Cash Flow Margin	12.68%	5.69%	0.89%	-9.73%	-24.05%	-16.89%
Free Cash Flow Per Share	2.22	0.95	0.11	-1.06	-1.44	-0.91
Cash Income Tax Paid	111.68	115.64	81.35	50.55	29.35	37.34
Levered Free Cash Flow	310.33	116.92	-30.49	-246.27	-306.72	-188.83
Unlevered Free Cash Flow	310.6	117.19	-30.19	-246.01	-306.66	-188.8
Change in Working Capital	-128.88	-128.88	-106.72	-208.43	-115.21	-67.52

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