CSPC Pharmaceutical Group Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	4,328	5,873	6,091	5,605
Depreciation & Amortization	1,249	1,083	1,004	862.38
Other Amortization	90.65	34.94	43.45	3.1
Loss (Gain) From Sale of Assets	23.4	22.23	7.36	10.79
Asset Writedown & Restructuring Costs	0.18	42.32	72.11	50
Loss (Gain) From Sale of Investments	151.94	177.85	-148.97	-242.41
Loss (Gain) on Equity Investments	89.47	54.2	15.4	-22.44
Stock-Based Compensation	210.45	235.09	160.73	17.73
Provision & Write-off of Bad Debts	16.3	18.41	-25.73	4.07
Other Operating Activities	-807.3	-330.26	-391.27	-263.85
Change in Accounts Receivable	692.25	-1,973	-566.55	-943.55
Change in Inventory	8.65	-583.75	-42.75	-617.07
Change in Accounts Payable	-758.87	918.13	18.45	276.79
Change in Unearned Revenue	135.12	-275.07	468.63	-44.22
Change in Other Net Operating Assets	-894.41	-1,118	920.34	-59.87
Operating Cash Flow	4,535	4,179	7,627	4,637
Operating Cash Flow Growth	8.52%	-45.21%	64.50%	-31.20%
Capital Expenditures	-2,015	-1,624	-2,220	-1,410
Sale of Property, Plant & Equipment	99.92	139.99	16.83	85.69
Cash Acquisitions	-	-	-341.91	-24.35
Divestitures	-	-	-	150.91
Sale (Purchase) of Intangibles	-560.08	-265.43	-484.54	-339.15
Investment in Securities	-1,615	2,171	-4,075	630.71
Other Investing Activities	232.62	443.5	308.74	269.01
Investing Cash Flow	-3,858	865.86	-6,796	-637.33
Long-Term Debt Issued	28	-	485.71	-
Total Debt Issued	28	-	485.71	-
Long-Term Debt Repaid	-152.36	-166.43	-620.95	-222.17
Total Debt Repaid	-152.36	-166.43	-620.95	-222.17
Net Debt Issued (Repaid)	-124.36	-166.43	-135.24	-222.17
Issuance of Common Stock	106.43	-	-	-
Repurchase of Common Stock	-2,196	-458.95	-14.21	-263.51
Common Dividends Paid	-3,234	-2,726	-2,097	-1,691
Other Financing Activities	194	792.06	342.34	-20.16
Financing Cash Flow	-5,253	-2,560	-1,904	-2,197
Foreign Exchange Rate Adjustments	3.4	4.89	14.14	-2.44
Net Cash Flow	-4,573	2,490	-1,059	1,800
Free Cash Flow	2,519	2,555	5,407	3,226
Free Cash Flow Growth	-1.40%	-52.74%	67.58%	-40.07%
Free Cash Flow Margin	8.69%	8.12%	17.48%	11.58%
Free Cash Flow Per Share	0.21	0.21	0.45	0.27
Cash Interest Paid	7.65	15.99	21.54	7.66
Cash Income Tax Paid	1,693	1,309	1,335	1,141
Levered Free Cash Flow	2,130	1,164	3,826	1,721
Unlevered Free Cash Flow	2,158	1,180	3,841	1,726
Change in Working Capital	-817.26	-3,032	798.12	-1,388

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.