SHE:301262 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	390.22	400.26	410.03	413.96	439.77	388.13
Depreciation & Amortization	16.22	16.22	17.1	17.54	20.68	30.35
Other Amortization	6.96	6.96	5.82	5.33	7.05	6.99
Asset Writedown & Restructuring Costs	-	-	-	-	0.01	0.14
Loss (Gain) From Sale of Investments	-44.93	-44.93	-41.34	-40.26	-31.75	-33.86
Provision & Write-off of Bad Debts	18.03	18.03	3.18	5.86	1.87	2.12
Other Operating Activities	128.77	-0.15	-0.03	0.2	-0.02	0.46
Change in Accounts Receivable	-292.4	-292.4	-51.35	-121.45	-33.73	-37.41
Change in Inventory	-1.7	-1.7	0.04	1.7	-1.75	0.05
Change in Accounts Payable	61.68	61.68	48.1	13	16.11	52.15
Change in Other Net Operating Assets	11.84	11.84	-2.26	-3.05	3.14	-1.82
Operating Cash Flow	289.78	170.91	389.03	292.58	421.02	407
Operating Cash Flow Growth	-32.14%	-56.07%	32.97%	-30.51%	3.44%	35.82%
Capital Expenditures	-33.29	-18.77	-8.25	-16.9	-13.29	-27.81
Sale of Property, Plant & Equipment	-	-	-	-	-	0
Investment in Securities	-238	-238	-420	-217.5	-7.5	-
Other Investing Activities	-342.13	44.05	39.45	37.06	-269.83	-34.59
Investing Cash Flow	-613.41	-212.72	-388.8	-197.34	-290.63	-62.4
Issuance of Common Stock	-	-	1,181	-	-	-
Common Dividends Paid	-187.65	-120.1	-354.45	-	-236	-100
Other Financing Activities	-	-	-16.93	-	-	-
Financing Cash Flow	-187.65	-120.1	810.1	-	-236	-100
Net Cash Flow	-511.28	-161.91	810.33	95.24	-105.61	244.6
Free Cash Flow	256.49	152.14	380.78	275.68	407.72	379.18
Free Cash Flow Growth	-37.48%	-60.05%	38.13%	-32.39%	7.53%	43.81%
Free Cash Flow Margin	27.45%	15.55%	38.37%	27.00%	41.90%	40.54%
Free Cash Flow Per Share	0.62	0.36	0.97	0.73	1.08	1.01
Cash Income Tax Paid	114.72	111.8	82.29	-	106.11	100.95
Levered Free Cash Flow	163.21	48.53	269.66	169.62	282.61	259.11
Unlevered Free Cash Flow	163.21	48.53	269.66	169.62	282.61	259.11
Change in Working Capital	-225.49	-225.49	-5.73	-110.05	-16.59	12.67

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