SHE:301020 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	91.69	88.51	81.9	72.36	64.57	92.65
Depreciation & Amortization	11.32	11.32	13.84	13.37	13.2	12.16
Other Amortization	0.58	0.58	-	-	-	-
Loss (Gain) From Sale of Assets	-0.06	-0.06	-0.13	-0.21	-0.05	-0.51
Loss (Gain) From Sale of Investments	-1.21	-1.21	-3.27	-3.45	-3.87	-3.26
Provision & Write-off of Bad Debts	-0.27	-0.27	-0.75	1.45	2.87	-2.95
Other Operating Activities	59.16	3.93	2.36	-0.03	-4.78	11.77
Change in Accounts Receivable	29.22	29.22	-12.16	-55.1	5.27	87.45
Change in Inventory	-21.44	-21.44	-30.5	-12.38	-15.92	-37.6
Change in Accounts Payable	-8.7	-8.7	27.74	56.83	4.97	-54.98
Operating Cash Flow	158.6	100.19	77.64	70.83	66.5	105.56
Operating Cash Flow Growth	749.24%	29.04%	9.60%	6.51%	-37.00%	20.91%
Capital Expenditures	-32.88	-39.32	-28.66	-15.73	-11.4	-15.45
Sale of Property, Plant & Equipment	0.17	0.2	0.72	0.35	0.14	0.74
Investment in Securities	-50	79	-0.29	-26	-24	-479.91
Other Investing Activities	4.69	4.46	21.18	11.51	12.9	3.11
Investing Cash Flow	-78.02	44.34	-7.05	-29.86	-22.36	-491.51
Common Dividends Paid	-45.38	-45.38	-51.24	-26.35	-39.53	-
Other Financing Activities	-	-	-	-	-	348.87
Financing Cash Flow	-45.38	-45.38	-51.24	-26.35	-39.53	348.87
Net Cash Flow	35.2	99.15	19.34	14.62	4.61	-37.08
Free Cash Flow	125.73	60.86	48.98	55.11	55.1	90.11
Free Cash Flow Growth	-	24.27%	-11.13%	0.01%	-38.85%	17.18%
Free Cash Flow Margin	21.95%	10.84%	9.30%	10.76%	13.63%	18.20%
Free Cash Flow Per Share	0.85	0.41	0.34	0.37	0.38	0.70
Cash Income Tax Paid	36.94	38.71	31.23	33.83	20.63	45.45
Levered Free Cash Flow	48.56	-14.24	19.91	72.73	24.74	88.82
Unlevered Free Cash Flow	48.62	-14.19	20.21	73.01	24.74	88.82
Change in Working Capital	-2.61	-2.61	-16.32	-12.66	-5.43	-4.29