SHE:301349 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	62.65	38.62	-33.04	41.3	148.99	137.68
Depreciation & Amortization	58.05	58.05	58.49	39.57	14.74	12.86
Other Amortization	1.63	1.63	-	-	-	-
Loss (Gain) From Sale of Assets	0.49	0.49	0.78	0.94	-	-0.01
Asset Writedown & Restructuring Costs	-	-	-	0	0.12	-
Loss (Gain) From Sale of Investments	-36.1	-36.1	-31.92	-37	-11.01	-0.01
Provision & Write-off of Bad Debts	3.99	3.99	5.46	0.1	4.3	-1
Other Operating Activities	-65.49	18.69	16.09	33.45	3.38	2.02
Change in Accounts Receivable	-256.25	-256.25	-81.86	28.67	-122.23	-48.36
Change in Inventory	-77.46	-77.46	82.65	-82.37	-133.13	-52.96
Change in Accounts Payable	18.84	18.84	-16.88	-83.27	26.04	46.28
Operating Cash Flow	-289.52	-229.38	-10.29	-67.01	-69.93	96.57
Operating Cash Flow Growth	-	-	-	-	-	55.21%
Capital Expenditures	-43.31	-38.57	-52.87	-54.11	-75.87	-141.27
Sale of Property, Plant & Equipment	-	-	0.07	0.07	-	0.02
Cash Acquisitions	-12.52	-	-	-141.01	-	-
Investment in Securities	128.68	49.08	22.29	564.39	-2,004	-
Other Investing Activities	40.84	37.75	36.26	39.22	1.08	0.01
Investing Cash Flow	113.68	48.26	5.75	408.56	-2,079	-141.25
Long-Term Debt Issued	-	420.69	297.85	235.3	112.22	70
Long-Term Debt Repaid	-	-188.24	-322.74	-276.08	-102.54	-15
Net Debt Issued (Repaid)	199.57	232.44	-24.89	-40.78	9.67	55
Issuance of Common Stock	-	-	-	-	2,178	-
Repurchase of Common Stock	-	-	-24.34	-10.88	-	-
Common Dividends Paid	-5.38	-4.58	-37.21	-68.79	-	-
Other Financing Activities	-18.19	-22.15	-	-	-22.44	-6.97
Financing Cash Flow	176	205.71	-86.44	-120.45	2,165	48.03
Foreign Exchange Rate Adjustments	-0.01	-0	0	-	-	-
Net Cash Flow	0.16	24.59	-90.98	221.1	16.75	3.35
Free Cash Flow	-332.83	-267.95	-63.16	-121.12	-145.79	-44.7
Free Cash Flow Margin	-26.03%	-23.09%	-7.80%	-12.76%	-16.13%	-9.09%
Free Cash Flow Per Share	-3.30	-2.65	-0.63	-1.19	-1.76	-0.58
Cash Interest Paid	-	-	-	-	3.35	2.02
Cash Income Tax Paid	45.18	53.42	21.87	38.73	6.24	46.28
Levered Free Cash Flow	-345.66	-259.02	-33.58	-47.52	-166.35	-71.44
Unlevered Free Cash Flow	-341.53	-254.89	-28.97	-44.14	-162.55	-70.18
Change in Working Capital	-319.87	-319.87	-26.43	-145.37	-230.44	-54.98

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