SHE:301252 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	114.56	126.8	119.41	84.32	69.77	48.02
Depreciation & Amortization	26.12	26.12	22.29	21.52	20.12	14.64
Other Amortization	4.56	4.56	1.71	2.14	2.21	1.55
Loss (Gain) From Sale of Assets	-0.1	-0.1	-15.19	-0.01	-0	-0.03
Asset Writedown & Restructuring Costs	1.94	1.94	0.78	0.01	7.22	6.36
Loss (Gain) From Sale of Investments	-5.94	-5.94	-3.87	-4.01	-1.68	-1.16
Provision & Write-off of Bad Debts	5.25	5.25	3.36	0.39	-	-
Other Operating Activities	73.76	7.21	8.38	7.93	4.38	3.9
Change in Accounts Receivable	-104.34	-104.34	-211.82	-83.81	-178.9	-149.61
Change in Inventory	-36.14	-36.14	-30.45	23.91	-37.1	-18.03
Change in Accounts Payable	2.98	2.98	105.02	-34.48	93.04	97.28
Change in Other Net Operating Assets	4.34	4.34	2.39	4.73	-	0.52
Operating Cash Flow	88.56	34.26	1.46	23.65	-19.12	3.57
Operating Cash Flow Growth	791.81%	2252.32%	-93.84%	-	-	-92.11%
Capital Expenditures	-53.99	-57.43	-57.9	-21.24	-16.79	-42.65
Sale of Property, Plant & Equipment	1.26	1.22	15.83	0.18	0.29	0.33
Investment in Securities	104	-133	-	-	5	22.57
Other Investing Activities	5.9	4.74	2.52	4.28	0.2	2.75
Investing Cash Flow	57.17	-184.47	-39.55	-16.78	-11.3	-17
Short-Term Debt Issued	-	18.3	85.55	96.3	-	-
Long-Term Debt Issued	-	-	-	-	113.2	116.85
Total Debt Issued	44.27	18.3	85.55	96.3	113.2	116.85
Short-Term Debt Repaid	-	-90.35	-91.8	-111.7	-	-
Long-Term Debt Repaid	-	-1.33	-1.43	-0.66	-114.24	-127.8
Total Debt Repaid	-61.34	-91.68	-93.23	-112.36	-114.24	-127.8
Net Debt Issued (Repaid)	-17.08	-73.38	-7.68	-16.06	-1.04	-10.95
Issuance of Common Stock	-	-	560.16	-	-	-
Common Dividends Paid	-28.75	-61.71	-3.61	-4.74	-4.93	-5.07
Other Financing Activities	34.7	36.01	54.08	27	41.43	27.25
Financing Cash Flow	-11.12	-99.09	602.95	6.2	35.47	11.23
Net Cash Flow	134.61	-249.3	564.86	13.07	5.05	-2.2
Free Cash Flow	34.57	-23.17	-56.44	2.41	-35.91	-39.08
Free Cash Flow Margin	2.85%	-2.04%	-5.76%	0.30%	-4.58%	-7.79%
Free Cash Flow Per Share	0.17	-0.14	-0.36	0.02	-0.28	-0.31
Cash Income Tax Paid	52.24	37.12	41.03	33.65	22.67	17.38
Levered Free Cash Flow	-33.24	-1.18	-3.25	3.99	-4.13	12.89
Unlevered Free Cash Flow	-32.01	0.13	-0.72	7.27	-0.68	16.21
Change in Working Capital	-131.59	-131.59	-135.95	-88.64	-121.14	-69.71

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