SHA:600098 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	2,319	1,732	1,638	1,354	172.07
Depreciation & Amortization	2,660	2,364	1,820	1,607	1,495
Other Amortization	128.34	57.48	39.1	23.66	18.79
Loss (Gain) From Sale of Assets	-1,826	-0.96	-0.13	-1.67	-0.22
Asset Writedown & Restructuring Costs	577.77	96.32	101.34	2.72	-2.26
Loss (Gain) From Sale of Investments	-269.64	-281.59	-99.3	-187.13	-320.65
Provision & Write-off of Bad Debts	10.3	-5.27	13.39	-40.1	1.11
Other Operating Activities	1,145	1,206	1,209	627.76	625.32
Change in Accounts Receivable	-535.44	-500.49	-382.47	-278.03	-1,147
Change in Inventory	-396.19	-380.24	-199.29	242.27	719.8
Change in Accounts Payable	1,673	118.39	-1,239	462.39	1,007
Operating Cash Flow	5,621	4,510	2,863	3,740	2,093
Operating Cash Flow Growth	24.64%	57.52%	-23.45%	78.66%	-8.35%
Capital Expenditures	-6,643	-3,954	-4,319	-4,688	-3,156
Sale of Property, Plant & Equipment	903.96	766.68	0.3	2.28	47.79
Cash Acquisitions	-329.25	-211.43	-433.61	-447.5	-1,273
Investment in Securities	-1,538	-51.09	-1,819	-73.7	-385.11
Other Investing Activities	-134.26	887.06	54.86	-180.19	276.29
Investing Cash Flow	-7,741	-2,563	-6,517	-5,387	-4,490
Long-Term Debt Issued	18,938	14,368	15,426	15,115	10,843
Long-Term Debt Repaid	-14,884	-15,965	-11,218	-13,609	-6,309
Net Debt Issued (Repaid)	4,055	-1,597	4,208	1,506	4,534
Issuance of Common Stock	-	-	145.12	-	5,615
Repurchase of Common Stock	-1.47	-2.02	-	-	-
Common Dividends Paid	-2,226	-1,845	-1,617	-1,076	-1,214
Other Financing Activities	179.11	-154.37	99.93	-1,270	-60.14
Financing Cash Flow	2,007	-3,599	2,836	-839.95	8,875
Foreign Exchange Rate Adjustments	-2.3	3.61	16.25	10.23	0.53
Net Cash Flow	-115.33	-1,648	-801.14	-2,476	6,479
Free Cash Flow	-1,022	555.47	-1,456	-947.64	-1,062
Free Cash Flow Margin	-2.01%	1.15%	-3.11%	-1.98%	-2.80%
Free Cash Flow Per Share	-0.29	0.16	-0.42	-0.27	-0.39
Cash Interest Paid	0.09	0.64	2.72	2.58	6.19
Cash Income Tax Paid	956.08	1,070	-186.83	-752.98	-67.75
Levered Free Cash Flow	-4,004	18.78	-606.23	-1,989	-1,656
Unlevered Free Cash Flow	-3,443	628.08	-88.49	-1,512	-1,159
Change in Working Capital	876.84	-657.57	-1,858	353.52	104.01

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