SHE:301023 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	80.77	94.51	47.61	79.78	65.53	67.89
Depreciation & Amortization	8.29	8.29	7.01	5.19	4.99	4.42
Other Amortization	0.73	0.73	1.42	1.01	0.68	0.18
Loss (Gain) From Sale of Assets	-	-	-0.01	-0	-	-
Asset Writedown & Restructuring Costs	0.01	0.01	0.01	0.01	1.04	0.63
Loss (Gain) From Sale of Investments	-10.28	-10.28	0.8	-5.28	-5.34	-5.42
Provision & Write-off of Bad Debts	2.82	2.82	0.58	0.19	-	-
Other Operating Activities	21.88	-12.05	-6.62	-22.41	2.14	6.64
Change in Accounts Receivable	-67.84	-67.84	-3.41	12.08	-31.38	-0.75
Change in Inventory	-2.54	-2.54	-11.61	3.34	-5.73	-1.53
Change in Accounts Payable	35.98	35.98	-14.28	-12.31	40.18	3.46
Change in Other Net Operating Assets	2.32	2.32	-	-	-	-
Operating Cash Flow	70.99	50.8	21.04	60.6	72.14	76.16
Operating Cash Flow Growth	114.50%	141.51%	-65.29%	-16.00%	-5.27%	22.01%
Capital Expenditures	-14.13	-24.22	-17.14	-24.32	-34.62	-6.42
Sale of Property, Plant & Equipment	-	-	-	0.01	0	-
Investment in Securities	95.52	50.19	-26.35	-356.18	-155.48	23.2
Other Investing Activities	-65.91	6.11	13.44	4.34	100.86	-96.05
Investing Cash Flow	15.48	32.09	-30.05	-376.15	-89.23	-79.27
Short-Term Debt Issued	-	-	1	-	-	-
Total Debt Issued	-	-	1	-	-	-
Long-Term Debt Repaid	-	-1.37	-2.25	-0.17	-	-
Total Debt Repaid	-1.37	-1.37	-2.25	-0.17	-	-
Net Debt Issued (Repaid)	-1.37	-1.37	-1.25	-0.17	-	-
Issuance of Common Stock	-	-	-	-	507.92	-
Repurchase of Common Stock	-7.67	-	-38.8	-	-	-
Common Dividends Paid	-61.14	-88.34	-51.87	-35.47	-7.47	-15.96
Other Financing Activities	8.6	9.13	5.06	76.91	-98.78	-3.61
Financing Cash Flow	-61.58	-80.58	-86.86	41.27	401.67	-19.57
Foreign Exchange Rate Adjustments	2.41	1.94	0.53	23.23	-1.36	-6
Net Cash Flow	27.3	4.24	-95.34	-251.05	383.22	-28.68
Free Cash Flow	56.86	26.59	3.89	36.28	37.53	69.74
Free Cash Flow Growth	253.75%	582.68%	-89.27%	-3.32%	-46.19%	47.20%
Free Cash Flow Margin	20.19%	9.42%	2.23%	19.81%	18.18%	37.81%
Free Cash Flow Per Share	0.73	0.34	0.05	0.46	0.56	1.18
Cash Income Tax Paid	24.04	19.74	21.85	11.72	5.82	19.64
Levered Free Cash Flow	28.37	4.87	-0.13	6.64	21.14	48.62
Unlevered Free Cash Flow	28.38	4.89	-0.1	6.65	21.14	48.62
Change in Working Capital	-33.22	-33.22	-29.76	2.11	3.11	1.82

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