SHA:600280 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-407.26	-398.38	-147.93	-152.76	-24.07	45.36
Depreciation & Amortization	290.22	290.22	269.91	282.66	303.95	307.47
Other Amortization	30.2	30.2	27.66	19.66	21.31	22.59
Loss (Gain) From Sale of Assets	-98.49	-98.49	0.19	-8.54	-16.49	-81.13
Asset Writedown & Restructuring Costs	271.63	271.63	15.39	24.09	5.4	0.14
Loss (Gain) From Sale of Investments	5.28	5.28	-0.68	-2.19	-1.93	-0.33
Provision & Write-off of Bad Debts	-	-	1.88	1.69	1.76	1.35
Other Operating Activities	233.11	253.9	405.94	437.21	343.13	408.7
Change in Accounts Receivable	89.41	89.41	66.71	83.61	109.67	-134.53
Change in Inventory	209.36	209.36	1,257	387.91	246.1	5.31
Change in Accounts Payable	-305.17	-305.17	-1,543	-533.36	-549.46	-64.39
Operating Cash Flow	329.34	359.01	314.22	525.04	401.07	578.03
Operating Cash Flow Growth	-1.86%	14.26%	-40.15%	30.91%	-30.61%	862.28%
Capital Expenditures	-30.24	-46.88	-88.41	-62.85	-72.97	-80.64
Sale of Property, Plant & Equipment	9.67	9.67	19.87	17.72	33.28	81.13
Investment in Securities	-7.45	-11.6	-	-	-	-
Other Investing Activities	-	-	-	0.01	0.01	-
Investing Cash Flow	-28.02	-48.81	-68.54	-45.11	-39.69	0.49
Long-Term Debt Issued	-	3,655	3,439	3,449	3,297	2,361
Long-Term Debt Repaid	-	-3,452	-3,365	-3,699	-3,609	-2,692
Net Debt Issued (Repaid)	381.89	203.34	73.86	-249.4	-311.96	-331.43
Common Dividends Paid	-175.94	-178.1	-190.03	-217.04	-308.26	-348.25
Other Financing Activities	-526.47	-372.58	-167.28	-	-	-
Financing Cash Flow	-320.52	-347.33	-283.45	-466.45	-620.22	-679.68
Foreign Exchange Rate Adjustments	-	-	-0.01	0	0.01	-0
Net Cash Flow	-19.2	-37.13	-37.77	13.48	-258.83	-101.16
Free Cash Flow	299.1	312.14	225.81	462.19	328.09	497.39
Free Cash Flow Growth	30.02%	38.23%	-51.14%	40.87%	-34.04%	29517.47%
Free Cash Flow Margin	14.91%	14.60%	9.83%	18.86%	13.14%	17.27%
Free Cash Flow Per Share	0.25	0.28	0.20	0.42	0.27	0.44
Cash Income Tax Paid	243.34	223.8	366.51	318.34	265.42	353.85
Levered Free Cash Flow	567.59	567.61	1,213	446.3	-87.92	-964.24
Unlevered Free Cash Flow	567.59	567.61	1,392	622.02	94.18	-756.78
Change in Working Capital	4.66	4.66	-258.14	-76.8	-232.01	-126.11

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