SHA:600004 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	1,514	925.85	441.91	-1,071	-405.85
Depreciation & Amortization	1,614	1,711	1,724	1,876	1,941
Other Amortization	3.71	4	4.05	4.71	0.37
Loss (Gain) From Sale of Assets	-378.58	9.1	-27.01	-0.42	-2.6
Asset Writedown & Restructuring Costs	-0.79	1.22	0.52	0.71	0.14
Loss (Gain) From Sale of Investments	-130.98	-134.85	-93.48	-103.81	-116.68
Provision & Write-off of Bad Debts	-	36.15	77.9	6.07	35.93
Other Operating Activities	149.01	152.65	183.33	117.12	143.09
Change in Accounts Receivable	-621.94	89.93	-353.91	364.61	-178.8
Change in Inventory	-13.12	-33.67	1.42	10.65	-5.5
Change in Accounts Payable	685.34	327.4	225.04	46.7	-357.71
Operating Cash Flow	3,075	3,410	2,360	868.51	844.85
Operating Cash Flow Growth	-9.83%	44.52%	171.69%	2.80%	-
Capital Expenditures	-737.42	-387.7	-597.24	-864.05	-1,255
Sale of Property, Plant & Equipment	0.65	3.84	4.27	1.75	8.22
Investment in Securities	-22.63	-	-	-	-
Other Investing Activities	-713.39	31.19	41.23	53.96	18.84
Investing Cash Flow	-1,473	-352.67	-551.74	-808.35	-1,228
Long-Term Debt Issued	-	-	-	2,000	-
Total Debt Issued	-	-	-	2,000	-
Long-Term Debt Repaid	-	-650.89	-1,406	-1,355	-340.99
Total Debt Repaid	-	-650.89	-1,406	-1,355	-340.99
Net Debt Issued (Repaid)	-	-650.89	-1,406	644.28	-340.99
Issuance of Common Stock	1,596	-	-	-	77.57
Common Dividends Paid	-371.57	-176.14	-12.61	-46.67	-105.83
Other Financing Activities	-484.27	-33.5	-87.31	-	-
Financing Cash Flow	740.35	-860.54	-1,506	597.61	-369.25
Foreign Exchange Rate Adjustments	-0.01	0.03	0.04	0.17	-0.05
Net Cash Flow	2,342	2,197	302.4	657.94	-752.03
Free Cash Flow	2,337	3,022	1,762	4.45	-409.79
Free Cash Flow Growth	-22.67%	71.49%	39461.61%	-	-
Free Cash Flow Margin	29.38%	40.71%	27.41%	0.11%	-7.91%
Free Cash Flow Per Share	0.99	1.27	0.76	0.00	-0.17
Cash Income Tax Paid	485.25	382.09	244.79	-19.01	246.88
Levered Free Cash Flow	891.13	2,458	1,110	419.86	-413.24
Unlevered Free Cash Flow	891.13	2,526	1,196	506.1	-336.01
Change in Working Capital	305.16	704.83	48.85	39.29	-750.74

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