SHA:600373 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	279.72	744.39	2,210	1,930	2,043
Depreciation & Amortization	266.59	253.99	264.06	240.23	240.57
Other Amortization	32.35	50.23	33.08	39.93	21.47
Loss (Gain) From Sale of Assets	-10.09	-31.19	-8.55	-5.56	-34.9
Asset Writedown & Restructuring Costs	-73.79	-0	29.2	42.17	1.64
Loss (Gain) From Sale of Investments	-316.58	-254.32	-185.3	-485.25	-1,102
Provision & Write-off of Bad Debts	-	61.4	48.65	53.03	256.25
Other Operating Activities	120.35	199.73	243.28	157.43	257.07
Change in Accounts Receivable	-727.02	-1,130	513.19	-40.87	-226.79
Change in Inventory	161.66	-130.48	28.61	150.58	-159.74
Change in Accounts Payable	326.7	447.21	-738.95	44.53	486.5
Operating Cash Flow	65.78	401.38	2,153	2,084	1,804
Operating Cash Flow Growth	-83.61%	-81.35%	3.29%	15.52%	-34.88%
Capital Expenditures	-255.51	-405.43	-270.88	-149.55	-137.44
Sale of Property, Plant & Equipment	23.33	38.43	8.69	0.57	35.76
Cash Acquisitions	-	-289.42	-	-	-
Divestitures	-	-	0.16	81.49	-
Investment in Securities	-1,320	-5,370	-2,400	40.23	562.58
Other Investing Activities	-274.73	324	135.98	501.66	677.12
Investing Cash Flow	-1,827	-5,703	-2,526	474.4	1,138
Short-Term Debt Issued	-	-	-	126.29	-
Long-Term Debt Issued	6,810	6,271	7,024	10,324	11,569
Total Debt Issued	6,810	6,271	7,024	10,450	11,569
Long-Term Debt Repaid	-7,088	-6,731	-6,776	-9,639	-11,571
Total Debt Repaid	-7,088	-6,731	-6,776	-9,639	-11,571
Net Debt Issued (Repaid)	-277.79	-460.58	247.48	811.04	-1.86
Issuance of Common Stock	29.4	-	-	-	-
Repurchase of Common Stock	-	-81.92	-	-	-
Common Dividends Paid	-664.93	-1,166	-1,161	-1,066	-849.33
Other Financing Activities	-1,039	267.53	11.08	-36.13	2.68
Financing Cash Flow	-1,952	-1,441	-902.61	-291.37	-848.5
Foreign Exchange Rate Adjustments	-4.59	1.13	3.15	14.58	-6.31
Net Cash Flow	-3,718	-6,741	-1,273	2,282	2,087
Free Cash Flow	-189.73	-4.05	1,882	1,934	1,667
Free Cash Flow Growth	-	-	-2.73%	16.07%	-35.95%
Free Cash Flow Margin	-2.45%	-0.04%	17.28%	18.90%	15.55%
Free Cash Flow Per Share	-0.14	-0.00	1.34	1.42	1.23
Cash Income Tax Paid	-	533.26	269.84	300.82	175.18
Levered Free Cash Flow	-959.95	99.92	1,230	1,172	1,394
Unlevered Free Cash Flow	-914.69	179.5	1,321	1,273	1,500
Change in Working Capital	-232.78	-622.84	-482.28	111.64	120.61

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