SHE:301373 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	144.1	137.24	134.89	124.87	90.99	67.54
Depreciation & Amortization	33.04	33.04	23.13	13.21	11.71	10.63
Other Amortization	0.78	0.78	0.29	0.18	0.14	0.02
Loss (Gain) From Sale of Assets	-0.07	-0.07	-0.04	-0.06	-0.03	-
Asset Writedown & Restructuring Costs	0.03	0.03	0.82	-0.1	0.64	-0.18
Loss (Gain) From Sale of Investments	-10.59	-10.59	-13.77	-12.94	-3.56	10.48
Other Operating Activities	10.01	-2.45	-5.16	-6.29	-1.55	0.89
Change in Accounts Receivable	-18.37	-18.37	-0.06	-40.42	-8.05	-6.95
Change in Inventory	-8.2	-8.2	-6.62	13.54	-8.02	-7.46
Change in Accounts Payable	-11.67	-11.67	15.43	10.72	6.91	14.02
Operating Cash Flow	137.68	118.37	149.41	104.05	89.95	88.96
Operating Cash Flow Growth	-0.24%	-20.77%	43.60%	15.68%	1.11%	45.60%
Capital Expenditures	-114.05	-110.42	-108.61	-187.12	-40.86	-15.06
Sale of Property, Plant & Equipment	0.14	0.14	1.07	0.12	0.07	-
Cash Acquisitions	-15.23	-	-	-6.32	-	-
Investment in Securities	95.15	-39.2	-79.5	-540	-75	-2.99
Other Investing Activities	15.86	17.54	12.26	19.67	-4.03	9.01
Investing Cash Flow	-18.13	-131.93	-174.78	-713.65	-119.82	-9.03
Short-Term Debt Issued	-	79.58	-	53.15	2.9	5.95
Total Debt Issued	79.58	79.58	-	53.15	2.9	5.95
Short-Term Debt Repaid	-	-40	-50	-	-	-
Long-Term Debt Repaid	-	-4.19	-4.52	-3.59	-2.05	-1.15
Total Debt Repaid	-84.19	-44.19	-54.52	-3.59	-2.05	-1.15
Net Debt Issued (Repaid)	-4.61	35.39	-54.52	49.56	0.85	4.81
Issuance of Common Stock	-	-	-	842.08	-	-
Common Dividends Paid	-75.93	-75.93	-32.54	-65.08	-	-
Other Financing Activities	-9.42	-4	-	-21.28	-0.5	-1.5
Financing Cash Flow	-89.95	-44.54	-87.07	805.28	0.35	3.31
Foreign Exchange Rate Adjustments	-7.54	-4.14	1.61	0.74	1.95	-0.03
Net Cash Flow	22.05	-62.24	-110.83	196.42	-27.58	83.21
Free Cash Flow	23.63	7.95	40.8	-83.08	49.09	73.9
Free Cash Flow Growth	-52.14%	-80.52%	-	-	-33.58%	340.39%
Free Cash Flow Margin	4.38%	1.59%	8.52%	-17.83%	12.23%	18.06%
Free Cash Flow Per Share	0.22	0.07	0.38	-0.79	0.60	0.91
Cash Income Tax Paid	45.74	44.95	27.97	43.41	23.57	41.73
Levered Free Cash Flow	-121.81	-72.14	-17.75	-350.52	38.42	60.79
Unlevered Free Cash Flow	-121.15	-71.47	-17.3	-349.79	38.61	60.99
Change in Working Capital	-39.62	-39.62	9.26	-14.82	-8.4	-0.42

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.