SHE:301413 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	Jan '23 Jan 1, 2023	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019
Net Income	93.37	82.64	79.89	89.31	60.11	27.24
Depreciation & Amortization	52.01	52.01	33.4	22.31	9.76	7.85
Other Amortization	10.36	10.36	6.14	4.73	2.54	1.58
Loss (Gain) From Sale of Assets	0	0	-0.12	0	0.4	-0.01
Asset Writedown & Restructuring Costs	2.78	2.78	0.43	1.08	3.91	5.05
Loss (Gain) From Sale of Investments	-0.42	-0.42	-0.39	-	-0.06	-0.41
Provision & Write-off of Bad Debts	14.56	14.56	3.3	7.16	-	-
Other Operating Activities	-4.22	26.23	22.62	13.85	4.42	0.86
Change in Accounts Receivable	-135.63	-135.63	-77.46	-146.05	-38.23	-48.94
Change in Inventory	-108.43	-108.43	-6.46	-63.2	-51.25	-18.09
Change in Accounts Payable	153.46	153.46	25.85	86.43	1.23	14.82
Operating Cash Flow	70.52	90.23	95.69	11.13	-8.47	-7.9
Operating Cash Flow Growth	-43.81%	-5.70%	759.48%	-	-	-
Capital Expenditures	-104.13	-91.83	-224.97	-328.79	-33.82	-29.96
Sale of Property, Plant & Equipment	0.37	-	-	0	0.27	0.01
Investment in Securities	5.14	-34.64	-	-	-	-
Other Investing Activities	-0.05	-	-	-	0.06	0.41
Investing Cash Flow	-98.68	-126.47	-224.97	-328.79	-33.5	-29.54
Short-Term Debt Issued	-	-	-	-	65.73	25.61
Long-Term Debt Issued	-	214	449.98	424.5	-	-
Total Debt Issued	398.6	214	449.98	424.5	65.73	25.61
Short-Term Debt Repaid	-	-	-	-	-14.05	-27
Long-Term Debt Repaid	-	-532.8	-323.16	-96.27	-	-
Total Debt Repaid	-308.98	-532.8	-323.16	-96.27	-14.05	-27
Net Debt Issued (Repaid)	89.62	-318.8	126.82	328.24	51.68	-1.39
Issuance of Common Stock	-	-	571.77	-	30	-
Common Dividends Paid	-40.85	-37.23	-23.02	-12.45	-1.98	-0.84
Other Financing Activities	1.9	-17.4	-3.55	-0.11	0.62	-
Financing Cash Flow	50.67	-373.44	672.02	315.67	80.32	-2.23
Foreign Exchange Rate Adjustments	1.98	0.6	-1.82	2.83	-2.01	-0.01
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0	-
Net Cash Flow	24.49	-409.07	540.92	0.84	36.34	-39.68
Free Cash Flow	-33.61	-1.6	-129.28	-317.66	-42.29	-37.86
Free Cash Flow Margin	-2.95%	-0.17%	-17.32%	-50.79%	-10.12%	-10.79%
Free Cash Flow Per Share	-0.34	-0.02	-1.75	-4.30	-0.58	-0.52
Cash Income Tax Paid	38.07	35.96	1.07	6.56	33.6	17.17
Levered Free Cash Flow	-21.15	-82.71	-259.33	-	-36.7	-48.99
Unlevered Free Cash Flow	-13.93	-73.59	-249.76	-	-35.78	-48.48
Change in Working Capital	-97.94	-97.94	-49.59	-127.31	-90.68	-53.92

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