SHE:301259 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	44.6	43.46	-30.84	-27.55	73.96	70.65
Depreciation & Amortization	38.6	38.6	11.91	7.71	4.15	1.19
Other Amortization	1.24	1.24	4.37	2.35	0.27	-
Loss (Gain) From Sale of Assets	0.2	0.2	-1.99	-0.03	-	-
Asset Writedown & Restructuring Costs	15.66	15.66	2.98	2.14	0.25	-
Loss (Gain) From Sale of Investments	-36.45	-36.45	-2.57	-1.59	-1.21	-
Provision & Write-off of Bad Debts	-	-	50.61	25.99	29.37	15.74
Other Operating Activities	20.97	8.27	3.8	-7.4	2.95	2.41
Change in Accounts Receivable	-80.18	-80.18	-33.65	280.25	-219.23	-131.7
Change in Inventory	-1.31	-1.31	10.97	-11.98	1.85	-4.23
Change in Accounts Payable	121.99	121.99	129.48	-134.84	0.31	93.91
Change in Other Net Operating Assets	-	-	-	-	-	1.01
Operating Cash Flow	122.31	108.48	134.3	128.97	-112.02	46.65
Operating Cash Flow Growth	-22.70%	-19.23%	4.14%	-	-	14.32%
Capital Expenditures	-105.36	-119.66	-171.28	-129.2	-56.8	-82.81
Sale of Property, Plant & Equipment	0.16	0.19	0.23	0.07	-	-
Cash Acquisitions	-	-	-	-0.1	-4.9	-
Divestitures	11.78	1.53	-	-	-	-
Investment in Securities	-123.21	-193.03	-51.84	-123.26	-274.4	-
Other Investing Activities	13.95	13.33	20.36	21.34	3.43	0.96
Investing Cash Flow	-202.69	-297.64	-202.54	-231.15	-332.67	-81.85
Long-Term Debt Issued	-	100.5	140.66	60	118.48	86.12
Long-Term Debt Repaid	-	-55.46	-17.93	-30.52	-108.93	-10.12
Net Debt Issued (Repaid)	-36.6	45.04	122.72	29.48	9.55	76
Issuance of Common Stock	0.01	0.01	46	-	507.56	-
Common Dividends Paid	-10.18	-9.97	-6.49	-7.73	-40	-
Other Financing Activities	131.41	127.34	-	-	-18.08	-2.99
Financing Cash Flow	84.64	162.43	162.23	21.75	459.04	73.01
Net Cash Flow	4.27	-26.74	94	-80.44	14.36	37.81
Free Cash Flow	16.95	-11.19	-36.98	-0.23	-168.82	-36.16
Free Cash Flow Growth	3471.03%	-	-	-	-	-
Free Cash Flow Margin	6.62%	-4.14%	-20.03%	-0.13%	-35.48%	-6.93%
Free Cash Flow Per Share	0.11	-0.07	-0.24	-0.00	-1.18	-0.31
Cash Interest Paid	-	-	-	-	-	1.98
Cash Income Tax Paid	8.47	10.42	6.41	25.1	22.18	18.87
Levered Free Cash Flow	-30.03	-67.98	-194.91	-46.13	-27.22	-126.34
Unlevered Free Cash Flow	-30.03	-67.98	-189.21	-43.19	-24.29	-125.1
Change in Working Capital	37.5	37.5	96.03	127.34	-221.75	-43.33

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