SHA:600376 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	-7,057	-8,141	-6,339	-460.95	263.69
Depreciation & Amortization	481.55	485.82	461.74	348.79	324.73
Other Amortization	89.45	128.9	122.56	147.81	90.97
Loss (Gain) From Sale of Assets	-2.63	-0.24	-32.55	-268.39	-148.36
Asset Writedown & Restructuring Costs	3,081	1.55	0.33	0.65	2.03
Loss (Gain) From Sale of Investments	725.35	1,240	1,169	-358.41	-368.37
Provision & Write-off of Bad Debts	-	486.08	890	49.13	38.57
Other Operating Activities	3,963	5,394	5,844	5,145	6,455
Change in Accounts Receivable	4,907	4,835	-985.93	2,347	-9,093
Change in Inventory	22,724	16,768	22,193	13,878	15,413
Change in Accounts Payable	-21,204	-14,201	-17,893	-16,755	-5,710
Operating Cash Flow	7,882	7,382	5,667	4,419	7,403
Operating Cash Flow Growth	6.77%	30.25%	28.26%	-40.32%	32.45%
Capital Expenditures	-255.66	-190.93	-298.24	-580.68	-773.08
Sale of Property, Plant & Equipment	0.17	0.16	52.45	480.76	215.35
Cash Acquisitions	-	-785.9	-	-248.77	-
Divestitures	-	452.33	412.91	1,285	-293.85
Investment in Securities	-26.07	-45.34	313.86	-923.44	-3,415
Other Investing Activities	223.67	126.54	204.19	361.25	189.94
Investing Cash Flow	-57.89	-443.13	685.17	374.29	-4,076
Long-Term Debt Issued	26,100	25,387	35,627	41,677	45,064
Long-Term Debt Repaid	-36,399	-35,229	-35,503	-51,622	-48,023
Net Debt Issued (Repaid)	-10,299	-9,842	124.33	-9,945	-2,959
Issuance of Common Stock	3,000	-	3,760	-	-
Repurchase of Common Stock	-	-	-3,000	-2,000	-
Common Dividends Paid	-4,295	-4,657	-5,649	-6,066	-8,039
Other Financing Activities	-77.2	4,302	-311.2	2,830	3,267
Financing Cash Flow	-11,671	-10,198	-5,076	-15,181	-7,731
Foreign Exchange Rate Adjustments	-0.01	0.8	0.83	4.97	-1.63
Net Cash Flow	-3,847	-3,258	1,278	-10,383	-4,405
Free Cash Flow	7,626	7,191	5,369	3,838	6,630
Free Cash Flow Growth	6.05%	33.93%	39.89%	-42.12%	33.79%
Free Cash Flow Margin	25.34%	29.70%	11.24%	8.01%	9.78%
Free Cash Flow Per Share	3.05	2.79	2.13	2.15	0.53
Cash Income Tax Paid	1,277	3,066	2,955	5,162	6,261
Levered Free Cash Flow	10,463	5,197	6,600	8,085	2,955
Unlevered Free Cash Flow	10,463	7,440	8,983	10,320	5,405
Change in Working Capital	6,602	7,787	3,551	-185.03	744.76

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