SHA:600276 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	7,711	6,337	4,302	3,906	4,530
Depreciation & Amortization	843.38	776.03	704.64	577.89	520.41
Other Amortization	99.09	94.79	89.3	66.26	20.33
Loss (Gain) From Sale of Assets	-4.05	-5.4	-3.16	-5.47	-3.37
Asset Writedown & Restructuring Costs	72.26	4.94	76.21	131.24	-117.52
Loss (Gain) From Sale of Investments	-116.09	-132.5	35.62	-533.84	-169.57
Provision & Write-off of Bad Debts	19.02	-28.67	-15.77	26.02	-3.87
Other Operating Activities	403.23	30.83	17.02	-67.79	-27.8
Change in Accounts Receivable	-1,097	-375.7	2,036	-2,285	-868.27
Change in Inventory	-479.24	-135.63	129.11	-52.68	-631.22
Change in Accounts Payable	4,135	671.41	315.32	-511.05	809.7
Change in Other Net Operating Assets	53.02	209.26	55.47	34.98	253.16
Operating Cash Flow	11,235	7,423	7,644	1,265	4,219
Operating Cash Flow Growth	51.36%	-2.89%	504.12%	-70.01%	22.93%
Capital Expenditures	-2,962	-1,969	-1,484	-1,992	-1,665
Sale of Property, Plant & Equipment	18.91	21.9	20.18	20.21	16.11
Divestitures	-	-	-	36.05	-
Investment in Securities	151	-17.2	2,590	2,160	842.49
Other Investing Activities	51.49	52.51	95.51	166.49	259.77
Investing Cash Flow	-2,741	-1,912	1,222	390.29	-546.26
Short-Term Debt Issued	-	-	-	1,260	-
Long-Term Debt Issued	1,496	799.91	21.1	-	-
Total Debt Issued	1,496	799.91	21.1	1,260	-
Long-Term Debt Repaid	-1,544	-847.28	-1,315	-36.28	-31.05
Net Debt Issued (Repaid)	-48.23	-47.38	-1,294	1,224	-31.05
Issuance of Common Stock	10,770	-	-	-	-
Repurchase of Common Stock	-978.15	-228.43	-827.26	-1,066	-235.16
Common Dividends Paid	-1,284	-1,275	-1,023	-1,016	-1,066
Other Financing Activities	-677.76	-	-	538.86	334.14
Financing Cash Flow	7,782	-1,551	-3,144	-318.77	-998.32
Foreign Exchange Rate Adjustments	-360.13	7.4	12.53	80.5	-16.87
Net Cash Flow	15,916	3,968	5,734	1,417	2,657
Free Cash Flow	8,273	5,454	6,160	-726.91	2,554
Free Cash Flow Growth	51.71%	-11.47%	-	-	-11.24%
Free Cash Flow Margin	26.16%	19.49%	26.99%	-3.42%	9.86%
Free Cash Flow Per Share	1.27	0.86	0.97	-0.11	0.40
Cash Income Tax Paid	2,787	2,290	1,568	1,631	1,607
Levered Free Cash Flow	5,859	4,391	4,866	-2,030	1,151
Unlevered Free Cash Flow	5,868	4,394	4,869	-2,026	1,154
Change in Working Capital	2,207	346.19	2,437	-2,835	-530.01

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