SHE:301319 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	85.82	89.36	102.16	82.7	82.31	65.24
Depreciation & Amortization	6.62	6.62	6.44	7.35	6.99	6.34
Other Amortization	2.48	2.48	1.15	1.7	1.88	1.64
Loss (Gain) From Sale of Assets	-0.07	-0.07	-0	-0	0.11	0.04
Asset Writedown & Restructuring Costs	12.57	12.57	6.63	2.05	8.74	0.34
Loss (Gain) From Sale of Investments	-9.89	-9.89	-11.72	1.03	-0.09	-1.04
Provision & Write-off of Bad Debts	-	-	-	-	-	5.37
Other Operating Activities	80.75	0.47	0.28	3.91	2.74	3.89
Change in Accounts Receivable	-107.61	-107.61	-51.07	-26.09	-109.61	-70.52
Change in Inventory	-35.58	-35.58	2.92	8.06	-41.07	-4.57
Change in Accounts Payable	33.85	33.85	0.68	-1.13	33.99	52.52
Change in Other Net Operating Assets	2.19	2.19	-	0.87	0.65	0.46
Operating Cash Flow	69.69	-7.06	57.46	80.76	-14.24	59.61
Operating Cash Flow Growth	84.97%	-	-28.85%	-	-	103.59%
Capital Expenditures	-13.83	-40.46	-5.06	-4.76	-2.99	-4.23
Sale of Property, Plant & Equipment	0.13	0.16	0.09	0.05	0.05	0.05
Investment in Securities	-97.33	-121.2	142.7	-450	-	-
Other Investing Activities	9.33	9.66	11.68	-2.24	0.09	1.04
Investing Cash Flow	-101.69	-151.83	149.42	-456.95	-2.85	-3.14
Short-Term Debt Issued	-	-	-	104.5	108.9	35
Total Debt Issued	-	-	-	104.5	108.9	35
Short-Term Debt Repaid	-	-	-	-193.9	-34.5	-40
Long-Term Debt Repaid	-	-1.1	-0.51	-1.04	-0.55	-
Total Debt Repaid	-1.1	-1.1	-0.51	-194.94	-35.05	-40
Net Debt Issued (Repaid)	-1.1	-1.1	-0.51	-90.44	73.85	-5
Issuance of Common Stock	17.83	-	-	700.02	-	-
Common Dividends Paid	-68.02	-82.1	-41.05	-4.11	-33.21	-36.47
Other Financing Activities	10.98	7.81	-	-72.2	-2.42	-1.3
Financing Cash Flow	-40.32	-75.38	-41.56	533.26	38.22	-42.77
Foreign Exchange Rate Adjustments	0.22	0.19	0.17	0.17	-0.13	0.09
Net Cash Flow	-72.1	-234.08	165.48	157.24	21	13.79
Free Cash Flow	55.86	-47.52	52.4	76	-17.23	55.38
Free Cash Flow Growth	-	-	-31.05%	-	-	105.92%
Free Cash Flow Margin	3.94%	-3.92%	5.44%	7.27%	-2.00%	9.37%
Free Cash Flow Per Share	0.45	-0.39	0.42	0.76	-0.19	0.60
Cash Income Tax Paid	30.78	32.74	32.53	39.32	41.35	27.34
Levered Free Cash Flow	43.78	-56.65	16.21	32.21	-43.04	40.94
Unlevered Free Cash Flow	44.69	-56.35	16.39	34.93	-41.41	41.74
Change in Working Capital	-108.61	-108.61	-47.48	-17.97	-116.91	-22.21

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