SHE:301512 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	37.16	45.5	80.96	89.03	94.62	81.82
Depreciation & Amortization	13.54	13.54	13.88	10.92	9.11	5.28
Other Amortization	1.09	1.09	0.66	0.31	0.72	0.73
Loss (Gain) From Sale of Assets	-0.18	-0.18	-	-	0.02	-
Asset Writedown & Restructuring Costs	0.1	0.1	3.8	11.31	1.93	0.16
Loss (Gain) From Sale of Investments	-3.23	-3.23	-2.15	-2.36	-2.08	-2.07
Provision & Write-off of Bad Debts	5.32	5.32	0.15	-	5.62	7.04
Other Operating Activities	238.4	29.66	9.47	-5.6	3.63	6.48
Change in Accounts Receivable	-88.8	-88.8	-12.51	-141.11	-32.41	-145.78
Change in Inventory	-17.81	-17.81	-65.33	4.94	-3.08	-60.43
Change in Accounts Payable	-111.71	-111.71	94.62	95.81	-13.32	80.42
Change in Other Net Operating Assets	30.63	30.63	-21.82	2.79	17.39	15.72
Operating Cash Flow	100.17	-100.23	100.02	64.22	83.27	-12.11
Operating Cash Flow Growth	108.32%	-	55.75%	-22.88%	-	-
Capital Expenditures	-81.91	-178.16	-52.14	-23.46	-12.73	-40.48
Sale of Property, Plant & Equipment	0.42	0	0.03	-	0.04	-
Investment in Securities	121.43	67.95	-164.45	12.46	-8.02	32.2
Other Investing Activities	-	-	-	-	4.07	-1.84
Investing Cash Flow	39.95	-110.2	-216.56	-11.01	-16.65	-10.12
Short-Term Debt Issued	-	64.46	-	20	-	26
Total Debt Issued	70	64.46	-	20	-	26
Short-Term Debt Repaid	-	-20	-20	-	-24.2	-1.8
Long-Term Debt Repaid	-	-1.81	-7.18	-2.76	-2.49	-
Total Debt Repaid	-41.81	-21.81	-27.18	-2.76	-26.69	-1.8
Net Debt Issued (Repaid)	28.19	42.65	-27.18	17.24	-26.69	24.2
Issuance of Common Stock	0.37	-	480.8	-	-	4.61
Common Dividends Paid	-18.07	-40.67	-0.55	-0.07	-26.98	-24.4
Other Financing Activities	0.29	-1.16	-20.12	-1.97	-4.77	-0.88
Financing Cash Flow	10.78	0.81	432.96	15.2	-58.44	3.53
Foreign Exchange Rate Adjustments	0.74	0.98	2.2	4.85	-2.45	-1.63
Net Cash Flow	151.64	-208.63	318.62	73.27	5.74	-20.34
Free Cash Flow	18.27	-278.39	47.88	40.76	70.53	-52.59
Free Cash Flow Growth	-	-	17.48%	-42.21%	-	-
Free Cash Flow Margin	3.10%	-48.31%	7.26%	7.45%	14.37%	-13.17%
Free Cash Flow Per Share	0.34	-5.20	1.05	1.02	1.76	-1.31
Cash Income Tax Paid	35.65	39.09	41.38	31.67	29.57	17.68
Levered Free Cash Flow	-29.73	-347.99	54.06	9.77	13.19	-75.02
Unlevered Free Cash Flow	-29.05	-347.53	54.48	9.92	13.83	-74.63
Change in Working Capital	-192.03	-192.03	-6.75	-39.39	-30.31	-111.54

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