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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	254.19	261.56	261.48	283.89	291.13	355.69
Depreciation & Amortization	27.01	27.01	37.67	40.68	27.26	9.17
Other Amortization	10.67	10.67	3.34	0.38	11.36	8.62
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.08	-0	-0.03	0.01
Asset Writedown & Restructuring Costs	0.07	0.07	0.01	0.03	-0.33	-14.37
Loss (Gain) From Sale of Investments	-2	-2	-0.15	-0.92	0.3	-4.99
Provision & Write-off of Bad Debts	-3.83	-3.83	3.14	0.7	-0.67	-14.92
Other Operating Activities	-143.88	-40.65	0.1	0.48	0.1	0.19
Change in Accounts Receivable	78.78	78.78	-80.16	-18.38	34.36	254.32
Change in Inventory	0.02	0.02	-0.04	1.18	0.41	-1.74
Change in Accounts Payable	81.09	81.09	-64.77	6.97	35.33	-15.06
Operating Cash Flow	302.13	412.73	160.55	315.01	399.22	576.94
Operating Cash Flow Growth	-12.42%	157.07%	-49.03%	-21.09%	-30.80%	212.54%
Capital Expenditures	-26.61	-28.53	-73.99	-75.72	-71.49	-14.13
Sale of Property, Plant & Equipment	-	0.01	0.09	0.01	0.05	0
Investment in Securities	-77.49	-169.2	-1,437	-6.51	-200	527
Other Investing Activities	14.83	14.83	0.05	1.04	0.84	29.96
Investing Cash Flow	-89.26	-182.9	-1,511	-81.18	-270.61	542.83
Long-Term Debt Repaid	-	-1.56	-2.46	-2.74	-	-
Net Debt Issued (Repaid)	-1.56	-1.56	-2.46	-2.74	-	-
Issuance of Common Stock	-	-	366.24	-	-	-
Common Dividends Paid	-270.01	-270.01	-37.6	-	-151.2	-90
Other Financing Activities	-0.07	-	-8.31	-3.51	-4.47	-5.26
Financing Cash Flow	-271.64	-271.57	317.88	-6.25	-155.67	-95.26
Net Cash Flow	-58.77	-41.74	-1,032	227.58	-27.06	1,025
Free Cash Flow	275.52	384.2	86.57	239.29	327.72	562.81
Free Cash Flow Growth	-8.16%	343.81%	-63.82%	-26.98%	-41.77%	230.15%
Free Cash Flow Margin	45.88%	63.50%	14.12%	37.02%	50.14%	83.73%
Free Cash Flow Per Share	0.69	0.96	0.23	0.67	0.91	1.56
Cash Income Tax Paid	-	-9.08	42.66	17.75	15.6	26.36
Levered Free Cash Flow	184.53	284.45	-18.95	72.25	232.26	431.01
Unlevered Free Cash Flow	184.56	284.48	-18.88	72.39	232.33	431.13
Change in Working Capital	159.9	159.9	-144.96	-10.23	70.1	237.53

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