SHE:301584 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	299.65	228.31	196.3	174.28	166.94	159.67
Depreciation & Amortization	82.7	82.7	57.7	38.99	29.05	4.78
Other Amortization	21.86	21.86	12.81	5.96	4.32	4.58
Loss (Gain) From Sale of Assets	-0.49	-0.49	-0.23	-0.33	0.03	-1.79
Asset Writedown & Restructuring Costs	0	0	0.28	-	18.25	19.68
Loss (Gain) From Sale of Investments	-	-	-	-0.73	-	-0.42
Provision & Write-off of Bad Debts	14.45	14.45	9.36	31.06	13.95	27.79
Other Operating Activities	1,309	237.45	199.13	116.27	47.44	11.02
Change in Accounts Receivable	-752.03	-752.03	-744.35	-351.09	275.23	-1,125
Change in Inventory	-1,000	-1,000	-719.35	-631.22	-756.46	-121.08
Change in Accounts Payable	1,340	1,340	612.83	6.73	-515.74	1,025
Change in Other Net Operating Assets	1.39	1.39	3.48	3.81	-	8.97
Operating Cash Flow	1,308	164.48	-374.57	-627.89	-732.97	-1.2
Capital Expenditures	-120.56	-121.05	-82.39	-33.5	-10.18	-6.95
Sale of Property, Plant & Equipment	0.66	0.74	0.05	0.03	0.06	10.78
Cash Acquisitions	-	-	-11.94	-	-	-3.05
Other Investing Activities	-2.39	-	-	-8.11	-	-
Investing Cash Flow	-122.29	-120.31	-94.28	-41.58	-10.12	0.78
Long-Term Debt Issued	-	4,457	4,274	2,873	1,807	145.35
Long-Term Debt Repaid	-	-4,178	-3,181	-1,592	-688	-0.03
Net Debt Issued (Repaid)	-468.17	278.85	1,093	1,280	1,119	145.33
Common Dividends Paid	-127.02	-151.89	-133.61	-142.35	-149.11	-99.2
Other Financing Activities	42.19	-3.17	-47	-24.88	-364.85	-5.15
Financing Cash Flow	-244.3	123.8	912.43	1,113	604.97	40.98
Foreign Exchange Rate Adjustments	-0.68	0	-0	-0.01	0.01	-0
Miscellaneous Cash Flow Adjustments	0	0	-0	-0	-	-
Net Cash Flow	940.37	167.96	443.58	443.65	-138.12	40.56
Free Cash Flow	1,187	43.42	-456.96	-661.39	-743.15	-8.15
Free Cash Flow Margin	6.15%	0.24%	-2.96%	-5.57%	-7.41%	-0.10%
Free Cash Flow Per Share	3.33	0.12	-1.28	-1.86	-2.09	-0.02
Cash Income Tax Paid	287.79	266.04	234.46	162.48	158.27	131.95
Levered Free Cash Flow	-	-14.76	-627.38	-671.36	-806.67	30.77
Unlevered Free Cash Flow	-	86.49	-544.33	-622.62	-782.7	32.59
Change in Working Capital	-419.81	-419.81	-849.92	-993.4	-1,013	-226.52

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