SHE:301353 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 2020	FY 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019
Net Income	69.1	63	78.62	99.19	67.75	37
Depreciation & Amortization	36.49	36.49	26.65	19.18	10.16	8.16
Other Amortization	1.34	1.34	0.56	1.01	0.77	0.31
Loss (Gain) From Sale of Assets	-0.21	-0.21	-0	-	-5.75	-
Asset Writedown & Restructuring Costs	2.07	2.07	0.1	0.01	0.67	1.07
Loss (Gain) From Sale of Investments	-0.38	-0.38	-2.37	8.78	-2.36	-0.03
Provision & Write-off of Bad Debts	0.66	0.66	2.06	-0.82	-	-
Other Operating Activities	80.9	-1.57	2.73	3.83	6.79	4
Change in Accounts Receivable	-31.06	-31.06	-26.37	20.96	-20.17	-15.58
Change in Inventory	-75.82	-75.82	-2.45	9.6	-18.42	1.53
Change in Accounts Payable	40.68	40.68	12.22	-11.92	43.2	5.35
Change in Other Net Operating Assets	0.6	0.6	1.87	2.03	1.56	0.65
Operating Cash Flow	123.4	34.83	88.88	148.71	84.58	42.53
Operating Cash Flow Growth	-40.93%	-60.81%	-40.23%	75.81%	98.89%	131.10%
Capital Expenditures	-75.28	-86.66	-124.33	-74.15	-76.03	-48.65
Sale of Property, Plant & Equipment	1.48	0.09	0.01	0.26	16.65	0.04
Cash Acquisitions	-	-	0.61	-	-	-
Investment in Securities	-9.56	-22.65	-25.69	0.04	-126.27	-16.75
Other Investing Activities	23.28	-	-	-	32.19	1.13
Investing Cash Flow	-60.09	-109.21	-149.4	-73.85	-153.46	-64.23
Long-Term Debt Issued	-	23.45	35	74	35.11	97.03
Long-Term Debt Repaid	-	-37.82	-162.55	-54.91	-39.58	-88.49
Net Debt Issued (Repaid)	10.21	-14.37	-127.55	19.09	-4.47	8.54
Issuance of Common Stock	-	-	615.07	-	88.65	44.07
Repurchase of Common Stock	-50	-50	-	-	-	-
Common Dividends Paid	-40.57	-25	-3.74	-8.42	-4.27	-4.01
Other Financing Activities	46.47	-0.64	2.89	-0.5	-	-
Financing Cash Flow	-33.89	-90.01	486.67	10.16	79.91	48.6
Foreign Exchange Rate Adjustments	-0.99	0.5	0.12	4.23	-1.48	-0.14
Net Cash Flow	28.43	-163.9	426.27	89.25	9.55	26.76
Free Cash Flow	48.11	-51.83	-35.45	74.55	8.56	-6.13
Free Cash Flow Growth	-64.38%	-	-	771.05%	-	-
Free Cash Flow Margin	5.22%	-5.94%	-4.97%	10.60%	2.18%	-2.08%
Free Cash Flow Per Share	0.50	-0.53	-0.40	1.01	0.13	-
Cash Income Tax Paid	16.34	-5.46	-22.16	-5.04	-8.42	5.1
Levered Free Cash Flow	-20.39	-93.05	-	-	-0.71	-42.41
Unlevered Free Cash Flow	-18.64	-91.29	-	-	1.97	-39.89
Change in Working Capital	-66.57	-66.57	-19.26	17.47	5.84	-8.86

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