SHA:600178 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	15.29	5.73	4.06	108.43	90.68
Depreciation & Amortization	444.45	363.55	325.07	309.91	308.97
Loss (Gain) From Sale of Assets	-77.19	-43.61	-20.17	-59.42	-8.09
Asset Writedown & Restructuring Costs	80.83	12.39	10.25	13	69.89
Loss (Gain) From Sale of Investments	6.44	6.84	-9.41	-19.48	-40.82
Provision & Write-off of Bad Debts	-	-13.8	32.07	-6.73	-14.18
Other Operating Activities	-3.29	27.07	14.99	50.18	35.82
Change in Accounts Receivable	866.89	725.53	-1,001	369.68	59.4
Change in Inventory	-234.57	-111.33	141.79	178.98	-161.96
Change in Accounts Payable	-888.47	-1,145	420.48	-581.95	132.05
Change in Other Net Operating Assets	-	-11.64	7.15	12.04	-
Operating Cash Flow	210.36	-177.19	-75.09	380.7	471.45
Operating Cash Flow Growth	-	-	-	-19.25%	-61.32%
Capital Expenditures	-129.25	-120.36	-284.55	-104.6	-146.12
Sale of Property, Plant & Equipment	0.61	3.44	0.41	0.36	2.92
Cash Acquisitions	-	-	-342.24	-	-157.12
Investment in Securities	-	557.75	160.17	239.31	-715.9
Investing Cash Flow	-128.64	440.83	-466.2	135.08	-1,016
Short-Term Debt Issued	-	64.63	300	-	340
Long-Term Debt Issued	290.43	-	-	-	-
Total Debt Issued	290.43	64.63	300	-	340
Short-Term Debt Repaid	-	-200	-340	-340	-400
Long-Term Debt Repaid	-50	-	-	-	-
Total Debt Repaid	-50	-200	-340	-340	-400
Net Debt Issued (Repaid)	240.43	-135.37	-40	-340	-60
Issuance of Common Stock	-	-	-	51.39	-
Common Dividends Paid	-8.37	-102.23	-134.29	-143.85	-33.49
Other Financing Activities	87.33	48.57	-1.09	240	-
Financing Cash Flow	319.39	-189.03	-175.38	-192.46	-93.49
Net Cash Flow	401.11	74.61	-716.66	323.32	-638.25
Free Cash Flow	81.11	-297.55	-359.64	276.1	325.33
Free Cash Flow Growth	-	-	-	-15.13%	-64.99%
Free Cash Flow Margin	1.42%	-6.44%	-6.65%	4.79%	4.94%
Free Cash Flow Per Share	0.17	-0.63	-0.75	0.58	0.70
Cash Income Tax Paid	-81.66	-25.82	17.54	67.99	111.76
Levered Free Cash Flow	724	111.45	-648.15	711.75	812.51
Unlevered Free Cash Flow	724	114.06	-643.14	712.53	820.7
Change in Working Capital	-256.16	-535.37	-431.94	-15.2	29.18

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