SHE:301517 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	Jan '21 Jan 1, 2021
Net Income	-1.78	46.64	78.79	64.58	66.75	57.62
Depreciation & Amortization	24.41	24.41	22.3	20.29	19.27	13.3
Other Amortization	2.52	2.52	0.34	0.35	4.94	2.09
Loss (Gain) From Sale of Assets	-0	-0	-0.03	-0.06	-0.04	0.11
Asset Writedown & Restructuring Costs	0.01	0.01	0.07	0.02	-	-
Loss (Gain) From Sale of Investments	-6.66	-6.66	0.27	-0.07	-0.28	-0.03
Provision & Write-off of Bad Debts	9.99	9.99	9.37	10.76	4.85	1.88
Other Operating Activities	107.62	18.94	32.37	45.78	43.46	37.78
Change in Accounts Receivable	72.36	72.36	-137.47	-79.39	-23.27	-82.58
Change in Inventory	44.57	44.57	107.55	-60.86	-44.32	-97.24
Change in Accounts Payable	-268.13	-268.13	-91.26	-30.38	-93.64	81.61
Change in Other Net Operating Assets	0.76	0.76	-	-	-	-
Operating Cash Flow	-20.32	-60.57	19.41	-32.21	-25.96	11.67
Operating Cash Flow Growth	-	-	-	-	-	-71.05%
Capital Expenditures	-22.19	-11.01	-9.91	-11.25	-23.72	-94.53
Sale of Property, Plant & Equipment	-	-	0.11	0.14	0.01	0
Investment in Securities	-1,297	-1,750	-	-	-	-
Other Investing Activities	1,357	1,357	-	-	-	-
Investing Cash Flow	37.69	-404.07	-9.8	-11.11	-23.71	-94.53
Long-Term Debt Issued	-	168.21	322.61	301.5	290.66	300.18
Long-Term Debt Repaid	-	-182.26	-291.66	-241.8	-240.55	-345.71
Net Debt Issued (Repaid)	69.38	-14.05	30.95	59.7	50.11	-45.53
Issuance of Common Stock	-	-	659.61	-	-	99.81
Common Dividends Paid	-16	-23.73	-12.72	-14.68	-23.11	-18.56
Other Financing Activities	-0.9	-3.79	-16.82	-2.88	-	-47.67
Financing Cash Flow	52.48	-41.57	661.02	42.14	27.01	-11.95
Net Cash Flow	69.85	-506.21	670.63	-1.18	-22.66	-94.8
Free Cash Flow	-42.51	-71.58	9.5	-43.46	-49.68	-82.86
Free Cash Flow Margin	-7.43%	-11.37%	1.11%	-5.42%	-6.58%	-13.02%
Free Cash Flow Per Share	-0.22	-0.47	0.08	-0.38	-0.44	-0.77
Cash Income Tax Paid	48.61	54.05	78.42	56.95	40.96	38.89
Levered Free Cash Flow	9.26	7.5	18.57	-37.13	-64.47	-77.11
Unlevered Free Cash Flow	15.57	14.43	28.99	-26.19	-56.47	-70.33
Change in Working Capital	-156.42	-156.42	-124.07	-173.85	-164.9	-101.09

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