SHE:301059 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	68.96	53.38	34.99	66.03	50.59	62.11
Depreciation & Amortization	39.04	39.04	36.19	11.71	12.02	9.4
Other Amortization	1.15	1.15	-	0.14	0.27	0.27
Loss (Gain) From Sale of Assets	-0.06	-0.06	-	-	-	0.03
Asset Writedown & Restructuring Costs	0.59	0.59	0.14	0.09	0.01	0.06
Loss (Gain) From Sale of Investments	-0.02	-0.02	-0.02	-0.04	-0	-0.62
Provision & Write-off of Bad Debts	0.5	0.5	-0.04	1.15	0.14	-0.14
Other Operating Activities	-16.21	0.56	1.36	-2.67	0.25	0.03
Change in Accounts Receivable	-9.13	-9.13	-14.22	-21.37	-4.77	6.8
Change in Inventory	-19.03	-19.03	-2.1	1.33	-18.39	5.19
Change in Accounts Payable	29.53	29.53	15	31.29	11.49	9.03
Change in Other Net Operating Assets	4.38	4.38	1.33	1.5	0.79	0.49
Operating Cash Flow	99.7	100.89	72.62	89.06	52.42	92.38
Operating Cash Flow Growth	19.18%	38.92%	-18.45%	69.89%	-43.26%	129.95%
Capital Expenditures	-30.49	-31.07	-44.34	-163.43	-199.78	-43.72
Sale of Property, Plant & Equipment	0.05	0.05	-	-	-	0.07
Other Investing Activities	0.05	0.02	0.02	0.04	0	0.62
Investing Cash Flow	-30.38	-31	-44.32	-163.39	-199.78	-43.03
Long-Term Debt Issued	-	0.29	16.97	16.6	4.03	-
Total Debt Issued	53.5	0.29	16.97	16.6	4.03	-
Short-Term Debt Repaid	-	-	-	-	-	-2
Long-Term Debt Repaid	-	-5.38	-7.56	-2.15	-6.86	-
Total Debt Repaid	-8.53	-5.38	-7.56	-2.15	-6.86	-2
Net Debt Issued (Repaid)	44.97	-5.1	9.41	14.45	-2.83	-2
Issuance of Common Stock	0.79	0.79	-	-	218.1	-
Repurchase of Common Stock	-16.98	-16.98	-	-1.14	-	-
Common Dividends Paid	-39.78	-23.95	-37.65	-30.82	-0.06	-9.12
Dividends Paid	-39.78	-23.95	-37.65	-30.82	-0.06	-9.12
Other Financing Activities	54.56	0.08	-0.36	0.41	-12.67	-10.18
Financing Cash Flow	43.57	-45.15	-28.59	-17.09	202.54	-21.31
Foreign Exchange Rate Adjustments	1.63	-0.03	0.05	2.71	-0.09	-0
Net Cash Flow	114.52	24.71	-0.24	-88.72	55.1	28.05
Free Cash Flow	69.22	69.82	28.28	-74.37	-147.36	48.67
Free Cash Flow Growth	10.00%	146.87%	-	-	-	-
Free Cash Flow Margin	15.86%	18.11%	9.61%	-26.61%	-72.60%	24.86%
Free Cash Flow Per Share	0.30	0.30	0.12	-0.33	-0.78	0.28
Cash Interest Paid	-	-	-	-	-	0.01
Cash Income Tax Paid	25	28.02	14.9	-6.89	13.56	22.92
Levered Free Cash Flow	64.45	41.38	-8.83	-134.38	-127.61	37.58
Unlevered Free Cash Flow	65.36	42.16	-8.17	-134.34	-127.5	37.59
Change in Working Capital	5.75	5.75	0.01	12.66	-10.86	21.25

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