SHE:301551 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	289.55	261.48	283.89	291.13	355.69	320.08
Depreciation & Amortization	31.56	31.56	40.68	27.26	9.17	9.8
Other Amortization	9.45	9.45	0.38	11.36	8.62	9.1
Loss (Gain) From Sale of Assets	-0.08	-0.08	-0	-0.03	0.01	0.02
Asset Writedown & Restructuring Costs	0.01	0.01	0.03	-0.33	-14.37	0.2
Loss (Gain) From Sale of Investments	-0.15	-0.15	-0.92	0.3	-4.99	-16.09
Provision & Write-off of Bad Debts	3.14	3.14	0.7	-0.67	-14.92	8.22
Other Operating Activities	147.63	0.1	0.48	0.1	0.19	-
Change in Accounts Receivable	-80.16	-80.16	-18.38	34.36	254.32	-207.55
Change in Inventory	-0.04	-0.04	1.18	0.41	-1.74	-0.35
Change in Accounts Payable	-64.77	-64.77	6.97	35.33	-15.06	61.17
Operating Cash Flow	336.15	160.55	315.01	399.22	576.94	184.59
Operating Cash Flow Growth	-8.22%	-49.03%	-21.09%	-30.80%	212.54%	-39.95%
Capital Expenditures	-44.05	-73.99	-75.72	-71.49	-14.13	-14.12
Sale of Property, Plant & Equipment	0.09	0.09	0.01	0.05	0	11.19
Investment in Securities	-1,539	-1,437	-6.51	-200	527	-163.09
Other Investing Activities	0.01	0.05	1.04	0.84	29.96	9.4
Investing Cash Flow	-1,583	-1,511	-81.18	-270.61	542.83	-156.62
Long-Term Debt Repaid	-	-2.46	-2.74	-	-	-
Net Debt Issued (Repaid)	-2.46	-2.46	-2.74	-	-	-
Issuance of Common Stock	-	366.24	-	-	-	303.43
Common Dividends Paid	-157.6	-37.6	-	-151.2	-90	-135.19
Other Financing Activities	-7.24	-8.31	-3.51	-4.47	-5.26	-
Financing Cash Flow	-167.31	317.88	-6.25	-155.67	-95.26	168.24
Net Cash Flow	-1,414	-1,032	227.58	-27.06	1,025	196.21
Free Cash Flow	292.1	86.57	239.29	327.72	562.81	170.47
Free Cash Flow Growth	-4.51%	-63.82%	-26.98%	-41.77%	230.15%	-35.39%
Free Cash Flow Margin	48.42%	14.12%	37.02%	50.14%	83.73%	27.04%
Free Cash Flow Per Share	0.73	0.23	0.67	0.91	1.56	0.49
Cash Income Tax Paid	-	42.66	17.75	15.6	26.36	45.86
Levered Free Cash Flow	132.02	-18.95	72.25	232.26	431.01	61.29
Unlevered Free Cash Flow	132.06	-18.88	72.39	232.33	431.13	61.29
Change in Working Capital	-144.96	-144.96	-10.23	70.1	237.53	-146.73

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