SHE:301315 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	Dec '21 Dec 31, 2021
Net Income	32.37	28.9	51.71	58.27	61.53	62.53
Depreciation & Amortization	7.38	7.38	7.37	7.47	7.35	6.83
Other Amortization	0.68	0.68	0.13	0.1	0.06	0.31
Loss (Gain) From Sale of Assets	-0.07	-0.07	-0	-0.03	-0.02	-
Asset Writedown & Restructuring Costs	0.01	0.01	-	0.04	-	-
Loss (Gain) From Sale of Investments	-12.73	-12.73	-16.44	-6.01	-0.02	-1.31
Provision & Write-off of Bad Debts	-1.75	-1.75	3.55	3.29	1.47	0.38
Other Operating Activities	-7.01	0.67	1.81	0.42	0.86	1.69
Change in Accounts Receivable	30.52	30.52	-10.81	-34.44	-20.76	-9.67
Change in Inventory	14.96	14.96	26.16	6.95	-7.46	-11.71
Change in Accounts Payable	-12.44	-12.44	-18.24	0.11	7.86	4.52
Change in Other Net Operating Assets	9.53	9.53	-11.93	-0.55	1.42	0.92
Operating Cash Flow	62.37	66.57	32.82	35.48	52.01	54.45
Operating Cash Flow Growth	92.86%	102.84%	-7.49%	-31.79%	-4.49%	22.89%
Capital Expenditures	-1.74	-2.39	-0.51	-4.13	-1.29	-22.51
Sale of Property, Plant & Equipment	0.01	0.11	0	0.17	0	-
Divestitures	-43.42	-43.42	-	-	-	-
Investment in Securities	33.06	-336.52	99.04	-330.01	-	-
Other Investing Activities	-	-	2.27	6.23	0.02	1.31
Investing Cash Flow	-12.09	-382.23	100.8	-327.74	-1.26	-21.19
Long-Term Debt Issued	-	2.85	-	-	-	-
Long-Term Debt Repaid	-	-0.61	-0.35	-0.26	-0.17	-
Net Debt Issued (Repaid)	-11.66	2.24	-0.35	-0.26	-0.17	-
Issuance of Common Stock	-	-	-	639.06	-	-
Common Dividends Paid	-35.36	-35.33	-30.8	-	-19.8	-26.4
Other Financing Activities	-0.01	-	-2	-24.72	-	-0.36
Financing Cash Flow	-47.03	-33.09	-33.15	614.08	-19.97	-26.76
Foreign Exchange Rate Adjustments	-1.09	-0.31	-0.82	-0.45	-0.65	-1.67
Net Cash Flow	2.17	-349.06	99.65	321.36	30.13	4.83
Free Cash Flow	60.63	64.18	32.31	31.35	50.72	31.95
Free Cash Flow Growth	94.86%	98.64%	3.07%	-38.20%	58.77%	-24.62%
Free Cash Flow Margin	33.45%	34.63%	11.00%	10.00%	16.51%	11.60%
Free Cash Flow Per Share	0.69	0.73	0.37	0.41	0.77	0.48
Cash Income Tax Paid	8.38	10.91	14.37	11.39	14.66	20.03
Levered Free Cash Flow	79.27	99.12	26.03	3.23	26.37	8.22
Unlevered Free Cash Flow	79.37	99.21	26.04	3.23	26.37	8.23
Change in Working Capital	43.48	43.48	-15.31	-28.08	-19.22	-15.96

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