SHE:301361 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	98.81	79.72	73.17	59.96	68.12	60.51
Depreciation & Amortization	11.86	11.86	9.99	3.82	3.57	2.96
Other Amortization	0.28	0.28	-	-	-	-
Asset Writedown & Restructuring Costs	0.03	0.03	0.13	0.03	0.48	0.26
Loss (Gain) From Sale of Investments	-12.97	-12.97	-16.61	-1.46	-0.69	-2.56
Provision & Write-off of Bad Debts	0.38	0.38	0.28	0.2	-0.3	0.63
Other Operating Activities	1.97	1.05	0.19	0.17	-	-0
Change in Accounts Receivable	-15.19	-15.19	-5.6	-5.43	1.12	-5.9
Change in Inventory	-9.73	-9.73	7.56	-5.1	-9.16	-5.77
Change in Accounts Payable	9.31	9.31	-20.85	9.45	-1.89	6.42
Change in Other Net Operating Assets	-	-	1.31	1.43	1.43	0.12
Operating Cash Flow	84.22	64.22	49.56	63.69	62.98	56.58
Operating Cash Flow Growth	48.75%	29.57%	-22.18%	1.12%	11.33%	-1.21%
Capital Expenditures	-3.91	-4.93	-25.75	-74.88	-40.67	-18.77
Sale of Property, Plant & Equipment	0.03	0.08	-	-	0.01	0
Investment in Securities	-157.34	-111.7	-660	-10	-	-
Other Investing Activities	15.61	16.03	14.2	1.55	0.69	100.9
Investing Cash Flow	-145.62	-100.51	-671.55	-83.33	-39.96	82.13
Issuance of Common Stock	-	-	-	720.4	-	11.26
Common Dividends Paid	-16.05	-13.96	-5.82	-	-	-98.6
Dividends Paid	-16.05	-13.96	-5.82	-	-	-98.6
Other Financing Activities	-0.01	-0.01	-0.81	-14.11	-	-
Financing Cash Flow	-16.07	-13.97	-6.63	706.3	-	-87.34
Foreign Exchange Rate Adjustments	0.56	0.09	-0.01	-	-	-
Net Cash Flow	-76.91	-50.17	-628.63	686.66	23.02	51.37
Free Cash Flow	80.31	59.29	23.82	-11.19	22.32	37.8
Free Cash Flow Growth	61.07%	148.96%	-	-	-40.97%	10.37%
Free Cash Flow Margin	28.36%	24.83%	10.82%	-5.58%	10.97%	21.51%
Free Cash Flow Per Share	0.69	0.51	0.20	-0.13	0.26	0.44
Cash Income Tax Paid	21.27	16.24	15.59	12.96	18.71	20.11
Levered Free Cash Flow	-28.34	21.16	-2.43	-26.31	17.2	-7.78
Unlevered Free Cash Flow	-28.34	21.16	-2.43	-26.31	17.2	-7.78
Change in Working Capital	-16.13	-16.13	-17.59	0.97	-8.2	-5.22

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