SHE:300997 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	44.17	147.38	278.39	203.43	183.83
Depreciation & Amortization	79.97	77.16	66.14	61.91	57.16
Other Amortization	9.61	20.18	6.67	7.88	7.72
Loss (Gain) From Sale of Assets	-0.09	0.28	0.65	-0.09	0.18
Asset Writedown & Restructuring Costs	5.53	-17.11	0.43	-4.14	37.88
Loss (Gain) From Sale of Investments	-0.22	-0.53	-2.16	-2.13	-2.07
Other Operating Activities	13.71	5.75	0.22	0.33	0.41
Change in Accounts Receivable	-14.03	-9.12	27.19	62.86	-70.44
Change in Inventory	15.28	-5.99	-27.59	-40.21	-81.02
Change in Accounts Payable	-69.09	-167.1	7.37	46.31	76.59
Operating Cash Flow	88.49	60.26	351.01	343.46	193.58
Operating Cash Flow Growth	46.85%	-82.83%	2.20%	77.43%	-23.52%
Capital Expenditures	-82.49	-101.16	-134.51	-62.44	-85.95
Sale of Property, Plant & Equipment	1.5	0.46	0.66	0.2	1.03
Investment in Securities	-37	-11	18	13	-12
Other Investing Activities	0.6	0.53	2.29	2.08	2
Investing Cash Flow	-117.39	-111.17	-113.57	-47.16	-94.92
Long-Term Debt Issued	407.56	277.67	-	-	-
Total Debt Issued	407.56	277.67	-	-	-
Short-Term Debt Repaid	-	-	-	-	-74.39
Long-Term Debt Repaid	-309.22	-33.1	-2.09	-1.83	-0.79
Total Debt Repaid	-309.22	-33.1	-2.09	-1.83	-75.18
Net Debt Issued (Repaid)	98.34	244.57	-2.09	-1.83	-75.18
Repurchase of Common Stock	-	-348.73	-57.53	-5.54	-
Common Dividends Paid	-134.08	-150.63	-75.69	-85.5	-45.64
Other Financing Activities	-2.53	-	-	-	376.42
Financing Cash Flow	-38.27	-254.8	-135.31	-92.87	255.61
Foreign Exchange Rate Adjustments	-1.13	-1.79	-2.34	-	-
Net Cash Flow	-68.28	-307.5	99.79	203.44	354.26
Free Cash Flow	6	-40.9	216.5	281.02	107.63
Free Cash Flow Growth	-	-	-22.96%	161.10%	-45.51%
Free Cash Flow Margin	0.40%	-2.21%	11.26%	17.61%	7.31%
Free Cash Flow Per Share	0.01	-0.10	0.49	0.63	0.26
Cash Income Tax Paid	99.76	185.22	226.12	136.32	166.25
Levered Free Cash Flow	-76.62	-5.79	239.3	176.23	146.16
Unlevered Free Cash Flow	-76.62	-2.2	239.44	176.44	146.42
Change in Working Capital	-64.18	-172.85	0.68	76.27	-91.53

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.