SHA:600325 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	-9,745	951.3	1,838	2,610	3,195
Depreciation & Amortization	439.03	409.07	439.84	415.36	285.75
Other Amortization	47.66	72.46	74.05	58.94	50.25
Loss (Gain) From Sale of Assets	-0.48	-3.52	-1.76	-29.09	-341.35
Asset Writedown & Restructuring Costs	6,870	-276.46	-975.97	-164.17	-29.52
Loss (Gain) From Sale of Investments	425.51	-604.44	-273.21	-1,507	-234.29
Provision & Write-off of Bad Debts	-	126.44	47.94	102.57	90.75
Other Operating Activities	2,542	2,707	3,910	3,651	2,218
Change in Accounts Receivable	449.23	-1,972	-1,978	-2,071	-4,568
Change in Inventory	62,218	33,974	36,244	21,748	6,147
Change in Accounts Payable	-44,910	-18,654	10,967	13,916	29,684
Change in Other Net Operating Assets	-	-	-	0.11	1.59
Operating Cash Flow	19,889	15,900	50,544	38,546	36,061
Operating Cash Flow Growth	25.09%	-68.54%	31.13%	6.89%	23.88%
Capital Expenditures	-7,188	-10,306	-52,385	-30,726	-29,920
Sale of Property, Plant & Equipment	0.5	0.21	0.53	0.51	15.77
Cash Acquisitions	-20.97	-1,379	-3,368	-568.16	-3,011
Divestitures	37.12	507.37	827.83	2,094	-
Investment in Securities	-7,788	-12,777	-15,465	-18,072	-11,331
Other Investing Activities	387.38	572.81	897.78	721.21	260.92
Investing Cash Flow	-14,572	-23,382	-69,492	-46,550	-43,986
Long-Term Debt Issued	80,756	86,449	97,615	95,568	92,782
Long-Term Debt Repaid	-84,164	-85,331	-99,625	-85,493	-99,414
Net Debt Issued (Repaid)	-3,409	1,118	-2,010	10,075	-6,632
Issuance of Common Stock	-	-	5,052	-	-
Repurchase of Common Stock	-	-	-2,713	-2,050	-2,394
Common Dividends Paid	-7,193	-8,137	-9,390	-9,292	-10,190
Other Financing Activities	334.46	1,600	20,501	12,085	34,243
Financing Cash Flow	-10,267	-5,419	11,439	10,818	15,027
Foreign Exchange Rate Adjustments	-2.33	-2.75	-12.08	6.21	4.51
Net Cash Flow	-4,953	-12,904	-7,521	2,821	7,106
Free Cash Flow	12,701	5,593	-1,841	7,820	6,140
Free Cash Flow Growth	127.07%	-	-	27.35%	-
Free Cash Flow Margin	15.22%	9.32%	-2.55%	12.94%	11.98%
Free Cash Flow Per Share	4.66	2.06	-0.79	3.42	2.58
Cash Income Tax Paid	5,781	5,838	8,429	6,176	-2,401
Levered Free Cash Flow	2,809	-7,243	-66,329	-41,358	-24,446
Unlevered Free Cash Flow	2,809	-6,443	-65,516	-40,650	-23,562
Change in Working Capital	19,310	12,518	45,485	33,409	30,827

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