SHA:600161 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	1,091	1,549	1,110	880.92	760.01
Depreciation & Amortization	416.91	331.52	268.02	179.75	157.15
Other Amortization	40.82	31.3	20.81	12.39	8.38
Loss (Gain) From Sale of Assets	-0.1	-0.04	0.05	-15.63	-0.51
Asset Writedown & Restructuring Costs	2.88	53.59	1.21	2.1	15.09
Loss (Gain) From Sale of Investments	-29.4	-63.93	-37.21	-28.13	-12
Provision & Write-off of Bad Debts	62.15	9.74	-0.65	1.26	-0.14
Other Operating Activities	428.57	572.18	405.98	327.41	314.14
Change in Accounts Receivable	-1,376	-473.12	1,029	-221.05	-351.21
Change in Inventory	-172.04	-579.84	-514.44	-181.5	30.96
Change in Accounts Payable	-113.34	-613.1	98.57	167.42	66.15
Operating Cash Flow	338.75	819.78	2,394	1,126	980.35
Operating Cash Flow Growth	-58.68%	-65.75%	112.57%	14.86%	39.63%
Capital Expenditures	-605.53	-1,067	-1,078	-1,354	-1,132
Sale of Property, Plant & Equipment	0.34	0.16	0.31	0.71	8.51
Cash Acquisitions	-	-963.78	-1.58	-36.36	-29.33
Investment in Securities	694	508.33	-200	-	-1,030
Other Investing Activities	35.55	-336.41	31.9	-481.24	-2.44
Investing Cash Flow	124.35	-1,859	-1,247	-1,871	-2,185
Short-Term Debt Issued	286.93	-	-	-	-
Total Debt Issued	286.93	-	-	-	-
Long-Term Debt Repaid	-22.49	-17.76	-385.85	-132.8	-366.17
Net Debt Issued (Repaid)	264.44	-17.76	-385.85	-132.8	-366.17
Issuance of Common Stock	-	-	-	-	3,332
Common Dividends Paid	-494.34	-247.17	-94.02	-157.21	-163.84
Other Financing Activities	-212.49	-105.36	-28.21	-88.19	-27.6
Financing Cash Flow	-442.4	-370.29	-508.08	-378.2	2,774
Foreign Exchange Rate Adjustments	-0.03	-0.04	-0	-0.05	-0.01
Net Cash Flow	20.68	-1,410	638.58	-1,123	1,570
Free Cash Flow	-266.78	-247.63	1,316	-228.02	-151.35
Free Cash Flow Margin	-4.32%	-4.11%	25.40%	-5.35%	-3.68%
Free Cash Flow Per Share	-0.14	-0.13	0.66	-0.11	-0.08
Cash Income Tax Paid	767.13	636.71	582.34	412.48	386.75
Levered Free Cash Flow	-453.35	-1,336	1,047	-348.46	-470.29
Unlevered Free Cash Flow	-448.76	-1,332	1,049	-346.96	-468.36
Change in Working Capital	-1,674	-1,664	625.47	-234.08	-261.77

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