SHE:301175 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	320.69	269.67	212.14	173.22
Depreciation & Amortization	238.93	183.96	149.59	136.26
Other Amortization	12.24	6.95	3.71	2.98
Loss (Gain) on Sale of Assets	0.65	-1.15	0.03	0.14
Loss (Gain) on Sale of Investments	-	-5.87	-7.64	-
Asset Writedown	4.58	-0.1	0.47	-0
Change in Accounts Receivable	-108.03	-123.82	-107.05	-169.84
Change in Inventory	46.56	-85.85	23.97	-35.14
Change in Accounts Payable	41.11	36.01	64.69	105.79
Other Operating Activities	124.45	120.83	119.87	107.7
Operating Cash Flow	682.33	412.85	445.79	331.32
Operating Cash Flow Growth	65.28%	-7.39%	34.55%	8.96%
Capital Expenditures	-515.93	-724.21	-631.16	-627.61
Sale of Property, Plant & Equipment	1.18	0.46	0.06	-
Cash Acquisitions	-14.61	-158.42	-	-
Investment in Securities	-0.01	-	-	-
Other Investing Activities	-11	6.22	8.1	-
Investing Cash Flow	-540.37	-875.95	-623	-627.61
Short-Term Debt Issued	-	-	-	106.8
Long-Term Debt Issued	1,068	514.9	433.59	928.1
Total Debt Issued	1,068	514.9	433.59	1,035
Short-Term Debt Repaid	-101.9	-13.1	-58.71	-117.64
Long-Term Debt Repaid	-874.32	-659.42	-260.06	-528.61
Total Debt Repaid	-976.22	-672.51	-318.77	-646.25
Net Debt Issued (Repaid)	92.01	-157.62	114.81	388.66
Issuance of Common Stock	-	-	1,360	-
Common Dividends Paid	-221.48	-155.91	-77.9	-72.09
Other Financing Activities	4.2	5.13	-17.24	-2.37
Financing Cash Flow	-125.27	-308.4	1,380	314.2
Foreign Exchange Rate Adjustments	-	-	-	-0.39
Net Cash Flow	16.68	-771.51	1,203	17.51
Free Cash Flow	166.4	-311.36	-185.37	-296.3
Free Cash Flow Margin	10.01%	-22.18%	-11.61%	-19.55%
Free Cash Flow Per Share	0.11	-0.21	-0.15	-0.27
Cash Income Tax Paid	65.84	85.01	77.28	81.33
Levered Free Cash Flow	-37.82	-481.93	-380.14	-408.11
Unlevered Free Cash Flow	14.31	-429.55	-333.7	-359.75
Change in Working Capital	-25.36	-180.28	-23.03	-103.87

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