SHE:301505 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	21.13	29.06	78.05	79.55	73.08	67.66
Depreciation & Amortization	10.9	10.9	10.4	11.21	8.93	3.96
Other Amortization	2.56	2.56	2.36	2.56	3.84	3.63
Loss (Gain) From Sale of Assets	-0	-0	-0.21	0.04	-0.02	-
Asset Writedown & Restructuring Costs	-0.5	-0.5	-0.15	-	-	0
Loss (Gain) From Sale of Investments	-11.03	-11.03	-3.78	-0.04	0.08	0.02
Provision & Write-off of Bad Debts	27.5	27.5	24.45	15.86	15.22	7.78
Other Operating Activities	49.56	2.45	1.36	1.58	1.74	0.63
Change in Accounts Receivable	-27.45	-27.45	-67.54	-78.91	-34.96	-28.05
Change in Accounts Payable	7.93	7.93	0.33	29.2	-0.64	39.65
Operating Cash Flow	74.17	34.98	39.83	58.73	61.02	92.4
Operating Cash Flow Growth	75.75%	-12.18%	-32.17%	-3.76%	-33.96%	169.84%
Capital Expenditures	-63.79	-79.38	-85.17	-35.18	-42.88	-23.41
Sale of Property, Plant & Equipment	0.19	0.04	0.04	0.01	0.06	-
Cash Acquisitions	-2	-	-	-	-	-
Investment in Securities	66.6	-56.14	-447.1	-	-	10
Other Investing Activities	10.95	12.49	1.16	-	-	0
Investing Cash Flow	11.95	-122.99	-531.07	-35.18	-42.82	-13.41
Long-Term Debt Issued	-	105.06	94.41	30.19	7.26	-
Long-Term Debt Repaid	-	-84.62	-64.07	-6.63	-4.92	-
Net Debt Issued (Repaid)	-5.19	20.45	30.34	23.56	2.34	-
Issuance of Common Stock	-	-	525.64	-	-	-
Common Dividends Paid	-28.87	-41.84	-37.57	-34.27	-36.3	-13.2
Other Financing Activities	-24.82	-	-27.19	-2.17	-3.29	-
Financing Cash Flow	-58.87	-21.39	491.22	-12.88	-37.25	-13.2
Net Cash Flow	27.25	-109.4	-0.02	10.67	-19.05	65.79
Free Cash Flow	10.38	-44.4	-45.34	23.54	18.14	68.99
Free Cash Flow Growth	-	-	-	29.75%	-73.70%	129.74%
Free Cash Flow Margin	3.59%	-14.42%	-11.60%	5.82%	4.69%	19.65%
Free Cash Flow Per Share	0.08	-0.39	-0.46	0.28	0.21	0.81
Cash Income Tax Paid	29.35	32.24	27.66	37.31	32.88	32.43
Levered Free Cash Flow	7.69	-52.19	-69.95	13.15	2.46	-
Unlevered Free Cash Flow	8.99	-50.81	-69.49	13.51	2.87	-
Change in Working Capital	-25.96	-25.96	-72.64	-52.04	-41.85	8.72

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