SHE:301696 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	421.37	332.5	172.31	112.85
Depreciation & Amortization	17.83	15.64	12.29	9.17
Other Amortization	0.84	0.21	2.45	2.59
Loss (Gain) From Sale of Assets	0.12	-0.03	-	0.02
Asset Writedown & Restructuring Costs	-	0.12	0.02	0.11
Loss (Gain) From Sale of Investments	-11.09	-8.37	-3.05	-1.59
Provision & Write-off of Bad Debts	1.88	0.51	0.14	-0.03
Other Operating Activities	14.25	-0.2	3.35	3.46
Change in Accounts Receivable	-24.52	-15.43	-7.6	4.26
Change in Inventory	-37.92	-54.7	-16.8	-21.83
Change in Accounts Payable	29.26	45.94	28.91	48.27
Change in Other Net Operating Assets	11.1	4.27	6.3	0.83
Operating Cash Flow	419.86	320.32	198.52	157.3
Operating Cash Flow Growth	31.08%	61.36%	26.20%	-
Capital Expenditures	-65.74	-24.02	-90.84	-23.31
Sale of Property, Plant & Equipment	0.13	0.05	-	0
Investment in Securities	-262.73	-282.99	-70.71	-39.7
Other Investing Activities	-5.57	1.64	2.07	2.77
Investing Cash Flow	-333.92	-305.31	-159.48	-60.23
Short-Term Debt Issued	0.22	-	-	-
Total Debt Issued	0.22	-	-	-
Long-Term Debt Repaid	-5.05	-2.8	-4.17	-6.94
Net Debt Issued (Repaid)	-4.83	-2.8	-4.17	-6.94
Issuance of Common Stock	-	-	60	-
Common Dividends Paid	-40	-	-130	-
Other Financing Activities	-3.73	-	-0.24	-0.52
Financing Cash Flow	-48.56	-2.8	-74.41	-7.47
Foreign Exchange Rate Adjustments	-0.38	6.23	1.81	1
Net Cash Flow	37.01	18.43	-33.55	90.6
Free Cash Flow	354.12	296.31	107.67	134
Free Cash Flow Growth	19.51%	175.19%	-19.64%	-
Free Cash Flow Margin	32.95%	35.64%	20.17%	37.06%
Free Cash Flow Per Share	0.98	0.82	0.30	-
Cash Income Tax Paid	108.09	77.2	43.44	1.58
Levered Free Cash Flow	235.28	205.76	57.95	-
Unlevered Free Cash Flow	235.5	206.09	58.5	-
Change in Working Capital	-25.33	-20.06	11.01	30.72

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