SHE:301516 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	-105.42	-89.39	66.01	99.76	109.54	82.42
Depreciation & Amortization	31.73	31.73	29.98	23.29	17.36	16.62
Other Amortization	1.43	1.43	0.48	0.08	0.55	0.35
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.01	-0.02	-	-
Asset Writedown & Restructuring Costs	21.49	21.49	0.22	0.11	12.95	13.63
Loss (Gain) From Sale of Investments	-4.14	-4.14	0.02	0.14	-0.07	-
Provision & Write-off of Bad Debts	3.01	3.01	1.89	2.37	5.09	11.9
Other Operating Activities	-56.21	28.54	17.02	23.9	6.06	7.78
Change in Accounts Receivable	79.55	79.55	52	139.91	-241.82	80.18
Change in Inventory	54.84	54.84	134.38	24.84	-220.84	-106.23
Change in Accounts Payable	-57.6	-57.6	-107.55	-222.52	299.35	40.63
Operating Cash Flow	-25.44	75.33	190.18	85.91	-15.14	143.54
Operating Cash Flow Growth	-	-60.39%	121.38%	-	-	23.83%
Capital Expenditures	-33.69	-33.1	-22.73	-87.49	-95.32	-56.05
Sale of Property, Plant & Equipment	0.07	-	-	-	0.12	0.1
Investment in Securities	96.97	-282.73	-	-	-	-
Other Investing Activities	3.66	4.07	-	-	3.01	-2.99
Investing Cash Flow	67.02	-311.75	-22.73	-87.49	-92.19	-58.93
Long-Term Debt Issued	-	-	11.47	119.69	126.21	44.21
Long-Term Debt Repaid	-	-122.31	-106.94	-111.23	-79.03	-36.77
Net Debt Issued (Repaid)	-2.99	-122.31	-95.47	8.46	47.18	7.43
Issuance of Common Stock	-	-	447.8	-	-	-
Common Dividends Paid	-0.2	-53.26	-6.96	-9.48	-8	-7.74
Other Financing Activities	0.77	-11.88	-12.78	0.94	0.08	0.1
Financing Cash Flow	-2.41	-187.46	332.6	-0.07	39.26	-0.21
Foreign Exchange Rate Adjustments	0.04	-0.03	0.01	0.66	-0.04	-0.08
Net Cash Flow	39.21	-423.9	500.07	-1	-68.1	84.31
Free Cash Flow	-59.13	42.23	167.46	-1.59	-110.45	87.49
Free Cash Flow Growth	-	-74.78%	-	-	-	17.00%
Free Cash Flow Margin	-7.19%	5.09%	14.14%	-0.11%	-7.73%	8.89%
Free Cash Flow Per Share	-0.21	0.15	0.80	-0.01	-0.52	0.41
Cash Income Tax Paid	13.63	18.72	36.88	0.58	14.43	22.39
Levered Free Cash Flow	78.7	-222.01	136.66	-61.52	-159.76	30.86
Unlevered Free Cash Flow	78.9	-221.05	140.51	-56.85	-156	35.68
Change in Working Capital	82.67	82.67	74.57	-63.72	-166.6	10.85

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