SHE:301520 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	40.84	85.53	108.09	98.73	81.87	54.52
Depreciation & Amortization	14.21	14.21	9.7	5.49	3.99	3.14
Other Amortization	4.77	4.77	2.69	1.83	1.71	1.1
Loss (Gain) From Sale of Assets	-0.02	-0.02	-	-	0	0.07
Asset Writedown & Restructuring Costs	0.04	0.04	0.02	2.3	0.91	0.34
Loss (Gain) From Sale of Investments	-28.19	-28.19	-6.22	-3.18	-1.85	-1.2
Provision & Write-off of Bad Debts	5.69	5.69	3.97	-	0.79	0.19
Other Operating Activities	18.26	0.13	0.14	0	0.05	0
Change in Accounts Receivable	-48.76	-48.76	-66.1	-44.97	-25.57	-29.82
Change in Inventory	-1.29	-1.29	-0.22	-0.26	0.2	-0.14
Change in Accounts Payable	13.41	13.41	16.32	11.44	-6.56	18.14
Operating Cash Flow	20.29	46.84	71.92	72.32	55.43	47.12
Operating Cash Flow Growth	-63.36%	-34.87%	-0.55%	30.47%	17.64%	156.02%
Capital Expenditures	-31.47	-41.82	-85.97	-50.7	-15.6	-6.88
Sale of Property, Plant & Equipment	-0.01	0.09	-	-	-	-
Investment in Securities	-87.72	-66.49	-949.1	-	-	29.15
Other Investing Activities	23.7	21.16	2.37	3.18	1.85	1.2
Investing Cash Flow	-95.5	-87.06	-1,033	-47.52	-13.74	23.47
Long-Term Debt Repaid	-	-	-0.03	-0.12	-0.09	-
Net Debt Issued (Repaid)	-	-	-0.03	-0.12	-0.09	-
Issuance of Common Stock	-	-	1,053	-	-	43.64
Repurchase of Common Stock	-2.84	-2.84	-	-	-	-
Common Dividends Paid	-21.89	-31.14	-	-	-	-
Other Financing Activities	-12.39	-	-24.79	-	-	-
Financing Cash Flow	-37.13	-33.98	1,028	-0.12	-0.09	43.64
Net Cash Flow	-112.34	-74.2	67.34	24.68	41.6	114.23
Free Cash Flow	-11.18	5.02	-14.05	21.63	39.84	40.24
Free Cash Flow Growth	-	-	-	-45.71%	-1.01%	183.74%
Free Cash Flow Margin	-3.79%	1.32%	-4.11%	8.29%	18.87%	28.93%
Free Cash Flow Per Share	-0.17	0.07	-0.26	0.43	0.80	0.84
Cash Income Tax Paid	5.81	11.64	14.78	16.67	18.5	10.34
Levered Free Cash Flow	24.9	22.45	-114.45	2.22	21.74	23.26
Unlevered Free Cash Flow	24.9	22.45	-114.45	2.23	21.75	23.26
Change in Working Capital	-35.32	-35.32	-46.46	-32.86	-32.04	-11.04

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