SHE:301155 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	325.96	66.11	-88.05	204.79	1,113	615.43
Depreciation & Amortization	186.2	186.2	130.34	82.3	78.71	31.17
Other Amortization	3.21	3.21	3.05	4.06	4.56	5.15
Loss (Gain) From Sale of Assets	0.3	0.3	0.44	0.24	0.09	1.21
Asset Writedown & Restructuring Costs	-	-	-	-	-	33.32
Loss (Gain) From Sale of Investments	-52.02	-52.02	-30.78	-126.07	-0.7	-0.32
Provision & Write-off of Bad Debts	-76.93	-76.93	172.01	149.96	75.64	13.16
Other Operating Activities	-759.03	42.49	30.47	10.44	86.92	84.69
Change in Accounts Receivable	252.76	252.76	-99.95	-180.08	-823.13	-624.15
Change in Inventory	-1,204	-1,204	-241.22	-368.79	1,322	-1,030
Change in Accounts Payable	922.08	922.08	160.55	118.7	-1,148	941.95
Operating Cash Flow	-460.99	80.69	9.86	-129.39	702.87	58.39
Operating Cash Flow Growth	-	718.46%	-	-	1103.69%	-78.05%
Capital Expenditures	-648.63	-789.85	-952.59	-550.13	-239.32	-226.85
Sale of Property, Plant & Equipment	2.24	2.26	0.15	0.12	0.12	0.13
Investment in Securities	-100.63	-62.33	-112.09	-792.02	-105.17	0.1
Other Investing Activities	0.38	0.25	0.24	0.23	0.33	0.32
Investing Cash Flow	-746.64	-849.68	-1,064	-1,342	-344.04	-226.31
Short-Term Debt Issued	-	-	-	0.3	104	-
Long-Term Debt Issued	-	1,713	730	286	387	426
Total Debt Issued	2,249	1,713	730	286.3	491	426
Short-Term Debt Repaid	-	-	-	-104.3	-	-
Long-Term Debt Repaid	-	-988.86	-212.59	-406.43	-686.34	-319.2
Total Debt Repaid	-1,349	-988.86	-212.59	-510.73	-686.34	-319.2
Net Debt Issued (Repaid)	899.9	723.83	517.41	-224.43	-195.34	106.8
Issuance of Common Stock	-	-	-	-	3,114	-
Common Dividends Paid	-48.35	-21.72	-34.35	-199.16	-22.19	-21.32
Other Financing Activities	50.74	-35.09	-3.14	-44.51	129.93	-8.81
Financing Cash Flow	902.29	667.02	479.93	-468.1	3,026	76.67
Net Cash Flow	-305.34	-101.97	-574.5	-1,939	3,385	-91.25
Free Cash Flow	-1,110	-709.16	-942.74	-679.52	463.55	-168.46
Free Cash Flow Margin	-27.99%	-52.36%	-55.94%	-41.62%	8.49%	-4.29%
Free Cash Flow Per Share	-5.02	-3.22	-4.39	-3.12	2.77	-1.03
Cash Income Tax Paid	111.69	36.63	159.04	142.26	379.22	212.74
Levered Free Cash Flow	-1,312	-726.59	-921.53	-762.1	73.32	-274.64
Unlevered Free Cash Flow	-1,292	-711.5	-910.69	-757.8	88.37	-261.21
Change in Working Capital	-88.68	-88.68	-207.63	-455.11	-655.37	-725.43

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