SHE:301392 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	21.26	68.09	81.08	71.29	71.45	55.03
Depreciation & Amortization	13.87	13.87	11.32	10.58	9.32	2.86
Other Amortization	1.43	1.43	1.2	3.73	4.43	4.5
Loss (Gain) From Sale of Assets	-	-	-	-	0	-
Asset Writedown & Restructuring Costs	0.02	0.02	-	-	0.01	7.58
Loss (Gain) From Sale of Investments	-0.29	-0.29	-0.15	-0.45	0.4	-0.23
Provision & Write-off of Bad Debts	9.1	9.1	6.34	-2.96	4.43	1.89
Other Operating Activities	251.05	10.82	0.74	4.45	13.72	-1.49
Change in Accounts Receivable	-111.2	-111.2	-140.41	97.8	-47.79	-64.49
Change in Inventory	-105.86	-105.86	2.71	130.91	-199.73	-22.66
Change in Accounts Payable	79.79	79.79	26.47	-135.88	169.4	27.48
Change in Other Net Operating Assets	-	-	-	-	0.08	1.84
Operating Cash Flow	157.01	-36.39	-7.74	179.46	22.34	8.83
Operating Cash Flow Growth	-	-	-	703.43%	153.02%	-
Capital Expenditures	-39.23	-13.39	-23.57	-42.73	-52.04	-70.04
Sale of Property, Plant & Equipment	0.03	0.03	-	-	-	-
Investment in Securities	-1	-	-	-19.77	-2	-
Other Investing Activities	0.61	0.29	0.15	0	0.04	0.23
Investing Cash Flow	-39.59	-13.07	-23.42	-62.5	-53.99	-69.81
Long-Term Debt Issued	-	70	51	55	169.86	113.28
Long-Term Debt Repaid	-	-170.02	-40.04	-161.7	-46.99	-7
Net Debt Issued (Repaid)	-	-100.02	10.96	-106.7	122.87	106.28
Issuance of Common Stock	-	274.57	-	-	-	0.12
Common Dividends Paid	-31.33	-29.12	-5.79	-10.16	-23.18	-9.64
Other Financing Activities	-0.13	-28.73	-0.37	-	-0	-
Financing Cash Flow	-31.47	116.7	4.8	-116.86	99.69	96.76
Foreign Exchange Rate Adjustments	-0.19	0.23	0.23	3.76	-0.28	-1.19
Net Cash Flow	85.76	67.47	-26.14	3.86	67.76	34.59
Free Cash Flow	117.78	-49.78	-31.31	136.73	-29.7	-61.21
Free Cash Flow Margin	29.97%	-9.57%	-6.00%	23.95%	-5.56%	-15.60%
Free Cash Flow Per Share	1.17	-0.56	-0.42	1.82	-0.40	-0.81
Cash Income Tax Paid	7.69	6.44	14.86	19.94	16.08	9.63
Levered Free Cash Flow	77.68	-88.84	-69.31	69.21	-69.03	-50.8
Unlevered Free Cash Flow	78.43	-86.33	-66.02	73.51	-64.44	-50.07
Change in Working Capital	-139.44	-139.44	-108.27	92.82	-81.41	-61.32

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