SHE:301033 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	101.91	78.85	40.88	35.73	44.71	36.97
Depreciation & Amortization	26.73	26.73	25.33	15.16	8.19	5.04
Other Amortization	1.18	1.18	1.22	1.35	1.46	1.39
Loss (Gain) From Sale of Assets	-0	-0	-	-0.17	-0.01	-0.08
Asset Writedown & Restructuring Costs	0.48	0.48	0.22	1.25	0.01	0.29
Loss (Gain) From Sale of Investments	-3.59	-3.59	-3.69	-7.99	-7.08	-5.29
Provision & Write-off of Bad Debts	0.1	0.1	0.04	0.03	-0.05	0.05
Other Operating Activities	-3.82	-1.15	2.21	-1.93	1.1	0.64
Change in Accounts Receivable	-4.43	-4.43	-7.14	-6.78	2.2	-3.94
Change in Inventory	-8.15	-8.15	3.19	-8.27	-4.64	-1.01
Change in Accounts Payable	16.18	16.18	43.8	16.18	17.92	-2.06
Change in Other Net Operating Assets	13.18	13.18	5.44	-0.2	-	-
Operating Cash Flow	136.77	116.38	107.69	48.31	66.51	33.91
Operating Cash Flow Growth	37.15%	8.08%	122.91%	-27.37%	96.15%	8.43%
Capital Expenditures	-25.45	-33.16	-40.09	-135.96	-152.71	-61.65
Sale of Property, Plant & Equipment	0.06	0.03	0.03	0.06	0.01	0.1
Investment in Securities	-82.5	24.8	-41.84	157.9	-162.23	-36.2
Other Investing Activities	-0.01	-	-	-3.45	-	5.98
Investing Cash Flow	-107.9	-8.33	-81.9	18.55	-314.93	-91.77
Long-Term Debt Issued	-	-	-	-	54.12	47.45
Long-Term Debt Repaid	-	-52.34	-28.62	-27.18	-2.77	-
Net Debt Issued (Repaid)	-2.04	-52.34	-28.62	-27.18	51.34	47.45
Issuance of Common Stock	12.96	9.31	-	-	250.05	-
Repurchase of Common Stock	-11.51	-11.51	-	-	-	-
Common Dividends Paid	-40.57	-27.14	-15.28	-8.05	-	-
Other Financing Activities	12.08	-	-	-	-53.9	-5.96
Financing Cash Flow	-29.08	-81.67	-43.9	-35.23	247.49	41.49
Foreign Exchange Rate Adjustments	0.53	0.16	0.02	2.97	-0.42	-0.33
Net Cash Flow	0.31	26.54	-18.09	34.61	-1.35	-16.7
Free Cash Flow	111.32	83.22	67.6	-87.65	-86.2	-27.74
Free Cash Flow Growth	72.20%	23.11%	-	-	-	-
Free Cash Flow Margin	33.06%	29.89%	29.28%	-44.89%	-56.05%	-22.46%
Free Cash Flow Per Share	1.68	1.27	1.02	-1.32	-1.52	-0.56
Cash Income Tax Paid	45.23	38.7	19.36	6.68	4.13	8.09
Levered Free Cash Flow	121.58	28.34	17.89	-118	-127.14	-26.65
Unlevered Free Cash Flow	121.6	28.91	19.27	-116.88	-126.83	-26.65
Change in Working Capital	13.78	13.78	41.48	4.87	18.17	-5.09

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