SHA:600268 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	480.1	340.62	226.87	152.28	258.27
Depreciation & Amortization	137.43	190.12	193.17	159.4	149.65
Other Amortization	96.17	0.72	0.39	0.28	0.28
Loss (Gain) From Sale of Assets	0.11	0.05	-0.58	-5.7	0.81
Asset Writedown & Restructuring Costs	6.96	0.01	0	0.14	0.15
Loss (Gain) From Sale of Investments	7.65	-34.52	-3.76	3.25	-187.83
Provision & Write-off of Bad Debts	107.71	78.92	64.74	97.42	58.64
Other Operating Activities	319.38	271.86	242.58	248.01	244.9
Change in Accounts Receivable	-735.37	-670.4	-89.92	-364.56	195.46
Change in Inventory	-112.41	-10.56	-49.06	-195.61	-146.27
Change in Accounts Payable	586.93	867.73	263.16	338.5	176.22
Change in Other Net Operating Assets	12.76	9.13	12.56	7.29	-
Operating Cash Flow	897.03	1,076	872.95	456.52	749.91
Operating Cash Flow Growth	-16.67%	23.31%	91.22%	-39.12%	3.39%
Capital Expenditures	-52.6	-57.63	-60.88	-52.19	-41.29
Sale of Property, Plant & Equipment	0.35	0.27	6.31	6.03	0.33
Investment in Securities	-155.8	402.99	-	12.37	-
Other Investing Activities	1.83	2.13	10.07	2.8	0.84
Investing Cash Flow	-206.22	347.76	-44.5	-30.99	-40.12
Long-Term Debt Issued	68	179	747.5	986	1,750
Total Debt Issued	68	179	747.5	986	1,750
Long-Term Debt Repaid	-124.43	-483	-781	-1,748	-1,802
Total Debt Repaid	-124.43	-483	-781	-1,748	-1,802
Net Debt Issued (Repaid)	-56.43	-304	-33.5	-762	-51.9
Issuance of Common Stock	-	-	-	54.17	-
Repurchase of Common Stock	-0.67	-0.64	-1.83	-	-
Common Dividends Paid	-150.25	-88.88	-73.82	-116.55	-72.46
Other Financing Activities	-191.21	-171.4	-173.4	-159.96	-116.65
Financing Cash Flow	-398.57	-564.92	-282.55	-984.34	-241.01
Foreign Exchange Rate Adjustments	-1.12	-1.48	-2.17	-0.63	-0.66
Net Cash Flow	291.13	857.82	543.73	-559.44	468.12
Free Cash Flow	844.43	1,019	812.08	404.33	708.62
Free Cash Flow Growth	-17.12%	25.46%	100.85%	-42.94%	6.33%
Free Cash Flow Margin	8.76%	11.28%	10.65%	5.77%	12.03%
Free Cash Flow Per Share	0.83	1.02	0.79	0.40	0.70
Cash Interest Paid	-	-	4.46	3.23	4
Cash Income Tax Paid	423.67	333.92	255.45	275.87	265.22
Levered Free Cash Flow	511.43	812.49	811.99	281.69	555.55
Unlevered Free Cash Flow	516.55	820.34	829.86	300.85	580.66
Change in Working Capital	-258.49	228.68	149.55	-198.56	225.02

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