SHE:301339 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	226.16	221.01	209.69	190.96	150.76	187.73
Depreciation & Amortization	70.69	70.69	56.13	38.88	18.85	16.42
Other Amortization	15.35	15.35	6.36	6.54	14.75	12.36
Loss (Gain) From Sale of Assets	-0.46	-0.46	0.01	0.01	-0.09	-
Asset Writedown & Restructuring Costs	0	0	-	-	-	-1.22
Loss (Gain) From Sale of Investments	-58.14	-58.14	-71.4	-55.41	-40.23	-36.96
Provision & Write-off of Bad Debts	6.88	6.88	10.53	5.12	4.56	-
Other Operating Activities	-83.85	27.83	19.47	20.11	17.51	14.87
Change in Accounts Receivable	-142.43	-142.43	39.13	-79.71	-36.13	-34.81
Change in Inventory	-9.38	-9.38	-12.16	-26.86	-9.31	29.47
Change in Accounts Payable	308.9	308.9	-168.69	119.86	-245.9	-178.7
Change in Other Net Operating Assets	30.43	30.43	12.78	-0.22	0.17	-0.66
Operating Cash Flow	351.93	458.45	103.69	218.98	-126.1	6.75
Operating Cash Flow Growth	67.25%	342.13%	-52.65%	-	-	-97.49%
Capital Expenditures	-112.98	-129.46	-120.86	-90.23	-43.72	-47.92
Sale of Property, Plant & Equipment	0.11	0.08	0	0.21	0.12	0
Cash Acquisitions	-10.68	-6.32	-	-	-	-
Divestitures	-	-	-	-	4.36	-
Investment in Securities	-183.95	-130.12	-180.1	109.7	-762.15	-23.95
Other Investing Activities	110.35	94.86	24.62	10.05	36.54	36.96
Investing Cash Flow	-197.15	-170.95	-276.34	29.73	-764.86	-34.9
Long-Term Debt Repaid	-	-13.39	-9.59	-9.23	-8.01	-5.81
Net Debt Issued (Repaid)	-13.39	-13.39	-9.59	-9.23	-8.01	-5.81
Issuance of Common Stock	-	-	66.36	-	1,047	-
Common Dividends Paid	-219.7	-219.7	-122.1	-68.78	-	-
Other Financing Activities	-5.93	-8.01	-7.66	-6.12	-25.08	-6.57
Financing Cash Flow	-239.02	-241.11	-72.99	-84.12	1,014	-12.38
Net Cash Flow	-84.25	46.39	-245.64	164.59	122.57	-40.54
Free Cash Flow	238.95	328.98	-17.16	128.75	-169.82	-41.17
Free Cash Flow Growth	158.56%	-	-	-	-	-
Free Cash Flow Margin	22.08%	30.81%	-1.92%	17.36%	-28.44%	-6.94%
Free Cash Flow Per Share	0.41	0.57	-0.03	0.23	-0.34	-0.09
Cash Income Tax Paid	92.99	79.98	65.02	52.75	53.51	37.05
Levered Free Cash Flow	162.51	256.01	-23.47	84.39	-245.27	-178.55
Unlevered Free Cash Flow	163.24	256.58	-23.04	84.99	-244.61	-177.91
Change in Working Capital	175.29	175.29	-127.1	12.78	-292.2	-186.45

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