SHA:600300 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	334.54	411.14	209.49	95.29	223.3
Depreciation & Amortization	204.93	209.6	235.58	248.98	206.29
Other Amortization	4.74	0.35	0.33	0.3	0.31
Loss (Gain) From Sale of Assets	0.87	-116.6	-76.49	-3.2	-6.15
Asset Writedown & Restructuring Costs	3.72	0.23	26.24	18.59	2.15
Loss (Gain) From Sale of Investments	-24.85	0.7	14	8.09	11.05
Provision & Write-off of Bad Debts	1.3	-0.29	-1.77	1.28	4.3
Other Operating Activities	23.49	-31.22	114.61	132.03	92.53
Change in Accounts Receivable	-99.24	441.92	-254.68	-77.98	125.95
Change in Inventory	269.82	-180.58	54.15	-202.47	45.61
Change in Accounts Payable	174.73	-436.11	360.37	15.54	-143.8
Change in Other Net Operating Assets	-	-10.6	-3.58	-1.77	-6.59
Operating Cash Flow	892.59	288.43	673.46	238.87	565.27
Operating Cash Flow Growth	209.47%	-57.17%	181.94%	-57.74%	-36.94%
Capital Expenditures	-21.82	-29.48	-62.03	-86.38	-656.12
Sale of Property, Plant & Equipment	4.85	144	127.36	18.87	12.37
Cash Acquisitions	-	-	-	0.03	-
Divestitures	-	-	-	-	226.75
Investment in Securities	13.6	17.78	-24.81	-22.12	13.31
Other Investing Activities	-	1.3	5.41	5.42	29.67
Investing Cash Flow	-3.37	133.61	45.93	-84.19	-374.01
Short-Term Debt Issued	269.36	195	373.97	1,045	-
Long-Term Debt Issued	-	-	-	-	1,175
Total Debt Issued	269.36	195	373.97	1,045	1,175
Long-Term Debt Repaid	-198.42	-328.31	-908.68	-1,240	-2,188
Net Debt Issued (Repaid)	70.95	-133.31	-534.7	-194.79	-1,012
Common Dividends Paid	-210.78	-116.35	-53.1	-102.94	-226.68
Other Financing Activities	-3.92	-	-0.79	-1.2	-37.95
Financing Cash Flow	-143.76	-249.66	-588.59	-298.93	-1,277
Foreign Exchange Rate Adjustments	-0	0	0.02	0	-0.01
Net Cash Flow	745.47	172.37	130.83	-144.25	-1,086
Free Cash Flow	870.77	258.95	611.42	152.49	-90.85
Free Cash Flow Growth	236.27%	-57.65%	300.97%	-	-
Free Cash Flow Margin	26.00%	7.08%	15.15%	3.61%	-1.99%
Free Cash Flow Per Share	0.55	0.16	0.38	0.10	-0.06
Cash Income Tax Paid	330.23	312.01	293.46	247.21	289.78
Levered Free Cash Flow	857.5	304.79	603.7	154.05	44.27
Unlevered Free Cash Flow	860.2	311.79	619.3	189.41	85.74
Change in Working Capital	343.85	-185.48	151.46	-262.49	31.47

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