SHE:301208 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	64.92	86.81	146.25	141.52	122.4	86.15
Depreciation & Amortization	6.95	6.95	3.78	3.14	2.3	1.03
Other Amortization	0.82	0.82	0.08	1.05	0.53	0.42
Loss (Gain) From Sale of Assets	0.17	0.17	0.06	0	0.02	0.01
Asset Writedown & Restructuring Costs	5.54	5.54	5.35	4.11	2.97	2.44
Loss (Gain) From Sale of Investments	0.49	0.49	0.11	-	-	-
Provision & Write-off of Bad Debts	-	-	-	-	-	0.39
Other Operating Activities	125.32	-0.6	0.61	0.35	0.48	0.38
Change in Accounts Receivable	128.8	128.8	-108.89	-179.88	-17.48	-31.62
Change in Inventory	-19.25	-19.25	1.92	12.73	24.89	-49.92
Change in Accounts Payable	-102.22	-102.22	38.31	84.21	-13.64	102.72
Change in Other Net Operating Assets	-	-	-	4.99	5.84	11.66
Operating Cash Flow	210.92	106.89	87.44	71.98	128.13	123.3
Operating Cash Flow Growth	-	22.23%	21.48%	-43.82%	3.91%	-3.71%
Capital Expenditures	-2.75	-10.75	-196.79	-1.48	-3.04	-0.65
Sale of Property, Plant & Equipment	0.02	0.04	0.03	0.01	0.01	0.01
Investment in Securities	-	-0.6	-	-	-	-
Investing Cash Flow	-2.72	-11.31	-196.76	-1.47	-3.04	-0.64
Short-Term Debt Issued	-	-	-	-	-	16
Total Debt Issued	-	-	-	-	-	16
Short-Term Debt Repaid	-	-	-	-	-	-66
Long-Term Debt Repaid	-	-6.74	-2.01	-1.99	-2.17	-
Total Debt Repaid	-6.74	-6.74	-2.01	-1.99	-2.17	-66
Net Debt Issued (Repaid)	-6.74	-6.74	-2.01	-1.99	-2.17	-50
Issuance of Common Stock	-	-	-	718.86	-	-
Common Dividends Paid	-24	-39	-26.67	-24	-19.5	-18.03
Other Financing Activities	0.14	-	-0.85	-11.96	-2.06	-4.25
Financing Cash Flow	-30.59	-45.74	-29.52	680.91	-23.72	-72.28
Net Cash Flow	177.61	49.84	-138.84	751.42	101.37	50.39
Free Cash Flow	208.18	96.13	-109.35	70.5	125.08	122.66
Free Cash Flow Growth	-	-	-	-43.64%	1.98%	-3.80%
Free Cash Flow Margin	18.91%	8.60%	-7.80%	5.32%	10.58%	14.96%
Free Cash Flow Per Share	1.73	0.80	-0.91	0.65	1.39	1.36
Cash Income Tax Paid	42.97	28.26	57.18	47.09	49.45	30.54
Levered Free Cash Flow	157.08	43.58	-161.26	28.14	80.24	101.19
Unlevered Free Cash Flow	157.17	43.62	-161.18	28.25	80.3	101.44
Change in Working Capital	6.71	6.71	-68.8	-78.2	-0.57	32.48

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