SHE:301499 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	49.92	45.3	64.2	67.58	56.15	37.59
Depreciation & Amortization	55.53	55.53	54.02	51.17	47.65	30.78
Other Amortization	9.21	9.21	5.87	5.3	5.48	5.79
Loss (Gain) From Sale of Assets	1.3	1.3	0.51	0.08	0.48	3.93
Asset Writedown & Restructuring Costs	-	-	-	-	0.04	-0.22
Loss (Gain) From Sale of Investments	-6.98	-6.98	-3.75	0.18	0.18	-0.45
Stock-Based Compensation	0.58	0.58	0.62	0.61	0.58	-
Provision & Write-off of Bad Debts	1.45	1.45	3.86	1.93	0.31	0.76
Other Operating Activities	29.05	-0.26	7.38	11.38	9.15	3.05
Change in Accounts Receivable	-64.62	-64.62	-86.89	-5.57	-9.66	-14.89
Change in Inventory	-34.55	-34.55	2.42	-10.78	-41.75	-24.52
Change in Accounts Payable	67.78	67.78	42.8	-36.76	7.17	26.54
Operating Cash Flow	107.63	73.7	92.06	86.38	75.87	67.5
Operating Cash Flow Growth	114.23%	-19.94%	6.59%	13.85%	12.40%	-19.95%
Capital Expenditures	-167.97	-140.11	-88.46	-66.08	-98.73	-174.99
Sale of Property, Plant & Equipment	-	-	-	-	-	0.21
Investment in Securities	185.17	156.86	-434.27	-	15	5
Other Investing Activities	20.44	3.1	0.97	0.02	2.27	0.45
Investing Cash Flow	37.64	19.86	-521.76	-66.05	-81.46	-169.34
Long-Term Debt Issued	-	30.77	95	166.57	119.42	187.69
Long-Term Debt Repaid	-	-89.8	-259.77	-134.94	-95.48	-79.31
Net Debt Issued (Repaid)	18.71	-59.04	-164.77	31.63	23.94	108.38
Issuance of Common Stock	-	-	623.18	-	27.05	-
Common Dividends Paid	-16.55	-22.89	-8.66	-12.17	-11.57	-8.35
Other Financing Activities	-0.72	-0.6	-28.16	-5.08	-31.86	-
Financing Cash Flow	1.43	-82.53	421.58	14.37	7.56	100.03
Foreign Exchange Rate Adjustments	-1.91	0.21	0.26	-0.32	-0.56	-0.31
Net Cash Flow	144.79	11.24	-7.86	34.38	1.41	-2.11
Free Cash Flow	-60.34	-66.41	3.6	20.3	-22.86	-107.49
Free Cash Flow Growth	-	-	-82.26%	-	-	-
Free Cash Flow Margin	-6.41%	-7.88%	0.47%	2.87%	-3.36%	-19.39%
Free Cash Flow Per Share	-0.43	-0.48	0.03	0.20	-0.22	-1.04
Cash Income Tax Paid	29.21	16.26	18.35	25.99	4.81	18.36
Levered Free Cash Flow	-113.7	-103.06	-48.68	-16.01	-107.7	-124.84
Unlevered Free Cash Flow	-113.39	-101.73	-43.43	-8.52	-102.08	-123.04
Change in Working Capital	-32.43	-32.43	-40.64	-51.85	-44.15	-13.74

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