SHA:600368 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	640.13	698.23	660.67	581.8	701.74	564.25
Depreciation & Amortization	285.96	285.96	305.42	267.75	339.94	319.58
Other Amortization	8.16	8.16	6.71	4.25	5.57	6.47
Loss (Gain) From Sale of Assets	-	-	-	-	-0.03	0.64
Asset Writedown & Restructuring Costs	-	-	-0.05	-0.02	-	-
Loss (Gain) From Sale of Investments	-163.26	-163.26	-167.63	-103.46	-240.96	-333.6
Provision & Write-off of Bad Debts	25.4	25.4	5.95	0.61	7.18	-2.1
Other Operating Activities	-7.58	106.08	143.79	160.93	305.44	294.88
Change in Accounts Receivable	18.94	18.94	119.73	1,069	435.15	41.22
Change in Inventory	32.5	32.5	-38.03	-4.75	67.72	124.07
Change in Accounts Payable	72.44	72.44	-45.45	40.09	-3.06	-216.95
Change in Other Net Operating Assets	-5.38	-5.38	-5.38	-5.39	-5.4	-4.83
Operating Cash Flow	909.21	1,081	987.78	2,012	1,599	776.93
Operating Cash Flow Growth	-8.12%	9.43%	-50.91%	25.84%	105.81%	-16.76%
Capital Expenditures	-1,344	-770.55	-244.01	-632.25	-9.22	-50.82
Sale of Property, Plant & Equipment	0.03	-	0.06	0.01	0.05	0.02
Divestitures	-	-	-	-	103.98	46.34
Investment in Securities	116.6	116.6	146.09	-403.06	58.18	25.4
Other Investing Activities	17.66	-	-	-	-	-
Investing Cash Flow	-1,210	-653.95	-97.86	-1,035	152.99	20.95
Long-Term Debt Issued	-	510	490	900	450	555
Long-Term Debt Repaid	-	-958.44	-1,395	-1,145	-1,801	-1,131
Net Debt Issued (Repaid)	485.94	-448.44	-904.51	-244.92	-1,351	-576.29
Common Dividends Paid	-317.58	-248.28	-201.07	-345.33	-349.2	-332.62
Other Financing Activities	-6.14	-0.06	-0.04	-0.1	-	-
Financing Cash Flow	162.22	-696.78	-1,106	-590.35	-1,700	-908.91
Net Cash Flow	-138.08	-269.76	-215.69	386.54	51.51	-111.03
Free Cash Flow	-434.6	310.42	743.78	1,380	1,590	726.11
Free Cash Flow Growth	-	-58.26%	-46.10%	-13.20%	118.94%	-13.24%
Free Cash Flow Margin	-23.98%	17.03%	45.54%	81.82%	86.84%	42.14%
Free Cash Flow Per Share	-0.27	0.19	0.46	0.94	0.99	0.45
Cash Income Tax Paid	168.6	171.69	192.7	146.53	165.95	131.42
Levered Free Cash Flow	-161.18	297.68	168.83	1,024	1,329	133.49
Unlevered Free Cash Flow	-102.53	368.25	250.79	1,101	1,436	283.48
Change in Working Capital	118.45	118.45	31.1	1,101	491.07	-66.07

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