SHA:600283 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	233.71	215.24	205.56	172.42	150.76	138.61
Depreciation & Amortization	326.52	326.52	255.5	239.69	203	188.94
Other Amortization	10.1	10.1	5.64	4.75	4.7	6.02
Loss (Gain) on Sale of Assets	0.29	0.29	-12.4	-0.22	7.76	-1.72
Loss (Gain) on Sale of Investments	-6.56	-6.56	-62.06	9.51	-5.01	-18.57
Asset Writedown	0.98	0.98	0.21	2.94	1.02	12.25
Change in Accounts Receivable	91.83	91.83	-70.69	34.12	-0.21	-2.64
Change in Inventory	69.25	69.25	2.2	-29.42	-61.4	-159.58
Change in Accounts Payable	-250.42	-250.42	-38.16	429.88	162.12	209.29
Change in Other Net Operating Assets	-0.61	-0.61	-6.08	-5.65	-	-
Other Operating Activities	83.92	157.54	125.65	127.29	98.35	101.72
Operating Cash Flow	528.29	583.45	398.26	965.42	558.95	469.84
Operating Cash Flow Growth	48.94%	46.50%	-58.75%	72.72%	18.97%	5.68%
Capital Expenditures	-570.06	-769.54	-684.74	-541.72	-591.3	-593.42
Sale of Property, Plant & Equipment	1.25	0.73	11.59	0.76	3.09	2.48
Cash Acquisitions	-1	-303.61	-214.53	-	-	-
Divestitures	-2.63	-	-	-	-	-
Investment in Securities	46	-	1.02	-22.4	-	1.1
Other Investing Activities	40.69	12.94	15.81	7.98	5.44	5.65
Investing Cash Flow	-485.75	-1,059	-950.47	-567.63	-582.77	-584.19
Long-Term Debt Issued	-	2,653	1,057	903.77	835.55	1,437
Total Debt Issued	1,966	2,653	1,057	903.77	835.55	1,437
Short-Term Debt Repaid	-	-9.88	-6.34	-24.69	-5.06	-5.71
Long-Term Debt Repaid	-	-1,227	-562.75	-997.34	-635.89	-1,242
Total Debt Repaid	-2,085	-1,237	-569.09	-1,022	-640.95	-1,248
Net Debt Issued (Repaid)	-119.28	1,416	487.77	-118.26	194.6	189.73
Issuance of Common Stock	573.18	573.18	-	-	-	-
Common Dividends Paid	-233.04	-233.75	-105.74	-102.16	-104.44	-58.75
Other Financing Activities	-23.52	-30.55	-57.28	-26.86	-3.31	10.31
Financing Cash Flow	197.34	1,725	324.74	-247.28	86.85	141.28
Net Cash Flow	239.87	1,249	-227.47	150.51	63.03	26.94
Free Cash Flow	-41.77	-186.09	-286.47	423.7	-32.35	-123.58
Free Cash Flow Margin	-1.71%	-8.01%	-12.89%	23.19%	-2.10%	-9.40%
Free Cash Flow Per Share	-0.08	-0.37	-0.58	0.86	-0.07	-0.25
Cash Income Tax Paid	179.06	173.71	157.15	168.69	162.87	93.96
Levered Free Cash Flow	115.54	-505.26	-506.28	226.84	-46.44	-555.85
Unlevered Free Cash Flow	171.31	-450.62	-474.72	259.68	-17.32	-523.78
Change in Working Capital	-90.27	-90.27	-121.88	410.41	94.79	37.35

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.