SHA:600033 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	809.15	780.77	902.26	840.39	829.22	452.21
Depreciation & Amortization	954.9	954.9	956.64	809.16	863.42	773.32
Other Amortization	4.13	4.13	2.89	0.95	0.79	0.77
Loss (Gain) From Sale of Assets	0.01	0.01	-0.01	1.3	-0.03	-0.02
Asset Writedown & Restructuring Costs	174.13	174.13	41.61	0.31	73.97	208.88
Loss (Gain) From Sale of Investments	-33.91	-33.91	-44.86	-57.28	38.37	-21.82
Provision & Write-off of Bad Debts	0.15	0.15	0.28	0.19	-0.21	-3.44
Other Operating Activities	967.57	287.9	300.9	310.01	330.08	270.28
Change in Accounts Receivable	-100.87	-100.87	-106.35	-71.69	165.6	91.39
Change in Inventory	-0.84	-0.84	0.93	0.48	4.52	1.87
Change in Accounts Payable	17.57	17.57	50	-80.91	72.12	7
Operating Cash Flow	2,794	2,086	2,100	1,762	2,369	1,760
Operating Cash Flow Growth	34.15%	-0.69%	19.17%	-25.61%	34.64%	-1.71%
Capital Expenditures	-766.25	-597.23	-708.91	-327.81	-461.19	-622.27
Sale of Property, Plant & Equipment	0.27	2.07	0.33	0.22	3.37	1.73
Investment in Securities	-	-	-	-	-800.05	-179.53
Other Investing Activities	48.76	47.84	69.56	94.3	-	-
Investing Cash Flow	-717.22	-547.32	-639.01	-233.29	-1,258	-800.07
Long-Term Debt Issued	-	-	-	995.7	165	1,197
Long-Term Debt Repaid	-	-28.13	-490.89	-1,454	-664.16	-2,638
Net Debt Issued (Repaid)	-628.13	-28.13	-490.89	-458.65	-499.16	-1,440
Common Dividends Paid	-225.37	-498.75	-453.98	-	-362.1	-
Dividends Paid	-225.37	-498.75	-453.98	-	-362.1	-305.01
Other Financing Activities	-165.18	-164.87	-154.89	-649.17	-230.54	-0.61
Financing Cash Flow	-1,019	-691.74	-1,100	-1,108	-1,092	-1,746
Net Cash Flow	1,058	846.51	361.32	421.2	19.27	-786.48
Free Cash Flow	2,027	1,488	1,391	1,434	1,908	1,137
Free Cash Flow Growth	54.26%	6.98%	-3.02%	-24.81%	67.75%	-27.85%
Free Cash Flow Margin	66.35%	49.19%	45.62%	53.69%	64.08%	48.89%
Free Cash Flow Per Share	0.74	0.54	0.51	0.52	0.69	0.41
Cash Income Tax Paid	534.74	543.54	493.09	466.27	448.82	370.52
Levered Free Cash Flow	1,504	1,212	1,271	1,280	1,384	720.41
Unlevered Free Cash Flow	1,528	1,241	1,307	1,337	1,449	809.96
Change in Working Capital	-82.51	-82.51	-59.61	-142.73	233.33	79.31

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.