SHE:301577 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 2020
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '20 Dec 31, 2020
Net Income	-24.89	-4.9	32.27	54.99	66.87	45.68
Depreciation & Amortization	25.38	25.38	21.04	18.91	17.53	5.44
Other Amortization	2.89	2.89	1.51	1.13	0.93	0.13
Loss (Gain) From Sale of Assets	-0	-0	0.05	-	-0	-0.31
Asset Writedown & Restructuring Costs	13.42	13.42	3.11	1.24	6.1	2.99
Loss (Gain) From Sale of Investments	-0.81	-0.81	-2.31	3.11	-0.62	-
Provision & Write-off of Bad Debts	-	-	-	-	-	-1.07
Other Operating Activities	11.12	4.53	-1.81	-2.29	-1.13	3.66
Change in Accounts Receivable	33.25	33.25	-16.99	-15.4	7.24	2.92
Change in Inventory	-38.76	-38.76	-17.38	39.08	-9.52	-4.77
Change in Accounts Payable	-3.58	-3.58	54.88	-62.36	-36.86	-0.15
Change in Other Net Operating Assets	1.63	1.63	0.71	0.98	0.87	-13.89
Operating Cash Flow	18.1	31.5	74.23	39.54	51	40.36
Operating Cash Flow Growth	-74.52%	-57.57%	87.74%	-22.47%	26.36%	-
Capital Expenditures	-125.61	-108.12	-78.01	-83.42	-43.92	-31.98
Investment in Securities	59.93	54.93	-120	-15	-	15
Other Investing Activities	1.83	0.79	1.8	5.9	4	1.36
Investing Cash Flow	-63.85	-52.4	-196.2	-92.52	-39.92	-15.61
Short-Term Debt Issued	-	-	-	-	-	15
Long-Term Debt Issued	-	33.94	8.33	126.25	39.11	-
Total Debt Issued	33.94	33.94	8.33	126.25	39.11	15
Short-Term Debt Repaid	-	-	-	-	-	-20
Long-Term Debt Repaid	-	-43.29	-47.66	-89.92	-17.27	-
Total Debt Repaid	-33.39	-43.29	-47.66	-89.92	-17.27	-20
Net Debt Issued (Repaid)	0.55	-9.35	-39.33	36.32	21.84	-5
Issuance of Common Stock	23.57	23.57	346.27	-	-	50
Common Dividends Paid	-15.86	-15.58	-38.36	-3.4	-8.11	-4.06
Other Financing Activities	5.89	3.81	-3.13	-2.25	-	-0.19
Financing Cash Flow	14.14	2.45	265.45	30.67	13.73	40.75
Foreign Exchange Rate Adjustments	3.65	5.65	1.19	-2.64	2.23	-0.16
Net Cash Flow	-27.96	-12.81	144.66	-24.94	27.05	65.34
Free Cash Flow	-107.51	-76.63	-3.77	-43.88	7.08	8.39
Free Cash Flow Growth	-	-	-	-	-15.56%	-
Free Cash Flow Margin	-24.29%	-18.54%	-0.89%	-10.07%	1.45%	2.48%
Free Cash Flow Per Share	-2.43	-1.73	-0.09	-1.32	0.21	0.27
Cash Income Tax Paid	-	-3.79	-4.31	9.97	13.94	9.64
Levered Free Cash Flow	-27.41	-	-9.97	-69.13	-	-4.46
Unlevered Free Cash Flow	-27.41	-	-9.97	-67.46	-	-3.93
Change in Working Capital	-9	-9	20.38	-37.55	-38.67	-16.15

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.