SHE:301552 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	155.23	150.23	137.09	116.31	60.73
Depreciation & Amortization	13.3	12.26	11.37	8.73	7.38
Other Amortization	3.18	2.53	5.65	6.91	7.03
Loss (Gain) From Sale of Assets	0.09	0	-0.51	-0.75	-0.12
Asset Writedown & Restructuring Costs	0.13	0.47	1.92	0.89	1.93
Loss (Gain) From Sale of Investments	-13.09	-4.47	-0.06	-0.09	-0.3
Provision & Write-off of Bad Debts	1.38	0.53	-	0.23	1.65
Other Operating Activities	9.9	5.84	2.1	-0.39	3.91
Change in Accounts Receivable	-84.57	22.85	-50.64	-16.22	-47.54
Change in Inventory	-4.3	-13.72	-3.42	0.41	-44.24
Change in Accounts Payable	52.57	136.45	13.39	3.58	18.63
Change in Other Net Operating Assets	0.1	0.11	0.59	1.6	5.34
Operating Cash Flow	134.67	313.86	117.67	122.93	16.65
Operating Cash Flow Growth	-57.09%	166.73%	-4.27%	638.49%	-67.04%
Capital Expenditures	-95.97	-80.39	-75.73	-18.43	-27.26
Sale of Property, Plant & Equipment	0.95	1.04	0.54	0.81	0.97
Cash Acquisitions	1.49	-	-	-	-
Investment in Securities	172.04	-532.72	-40	0.09	0.3
Other Investing Activities	17.87	-4.25	5.03	-	-
Investing Cash Flow	96.39	-616.32	-110.16	-17.53	-25.99
Short-Term Debt Issued	3.39	22.11	-	-	-
Total Debt Issued	3.39	22.11	-	-	-
Short-Term Debt Repaid	-19.83	-	-	-	-
Long-Term Debt Repaid	-0.69	-	-0.13	-0.23	-
Total Debt Repaid	-20.52	-	-0.13	-0.23	-
Net Debt Issued (Repaid)	-17.12	22.11	-0.13	-0.23	-
Issuance of Common Stock	-	473.95	-	-	-
Repurchase of Common Stock	-	-	-	-	-24.65
Common Dividends Paid	-115.77	-	-	-	-
Other Financing Activities	-5.63	-18.22	-6.17	-6.53	-1.73
Financing Cash Flow	-138.52	477.84	-6.3	-6.76	-26.38
Foreign Exchange Rate Adjustments	-2.85	1.81	3.42	6.11	-1.24
Net Cash Flow	89.7	177.2	4.64	104.75	-36.96
Free Cash Flow	38.7	233.47	41.94	104.5	-10.61
Free Cash Flow Growth	-83.42%	456.63%	-59.86%	-	-
Free Cash Flow Margin	5.72%	38.17%	8.60%	25.76%	-3.62%
Free Cash Flow Per Share	0.41	2.88	0.59	1.46	-0.11
Cash Income Tax Paid	45.36	40.28	48.62	26.79	15.08
Levered Free Cash Flow	20.86	195.42	6.01	67.26	-30.76
Unlevered Free Cash Flow	21.02	195.49	6.37	67.37	-30.74
Change in Working Capital	-35.46	146.47	-39.89	-8.91	-65.57

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