SHA:600396 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	63.83	84.73	2,140	-2,018	-1,920	81.72
Depreciation & Amortization	605.66	605.66	916.27	1,095	1,069	974.35
Other Amortization	3.87	3.87	1.05	12.06	1.26	1.86
Loss (Gain) on Sale of Assets	-0.05	-0.05	-6.85	-	-	-2.01
Loss (Gain) on Sale of Investments	-71.27	-71.27	-2,959	-69.11	-31.69	-89.01
Asset Writedown	9.85	9.85	34.09	501.81	23.84	18.3
Change in Accounts Receivable	-77.3	-77.3	-602.52	93.58	-249.49	-260.99
Change in Inventory	0.86	0.86	12.26	472.78	-631.66	-76.33
Change in Accounts Payable	-151.06	-151.06	-70.28	-84.36	1,387	-219.55
Other Operating Activities	526.53	400.84	545.95	405.37	527.5	645.44
Operating Cash Flow	910.34	805.55	45.7	441.16	139.15	1,063
Operating Cash Flow Growth	0.23%	1662.68%	-89.64%	217.04%	-86.91%	-34.61%
Capital Expenditures	-981.7	-490.78	-576.3	-540.78	-571.68	-1,347
Sale of Property, Plant & Equipment	0.66	0.71	28.75	7.08	2.02	11.64
Divestitures	-	-	325.33	-	-	-
Investment in Securities	-1	-1	-	-1.51	128.15	114.79
Other Investing Activities	7	-0.03	-0.02	5.51	-1.05	0.31
Investing Cash Flow	-975.04	-491.1	-222.24	-529.69	-442.57	-1,220
Long-Term Debt Issued	-	9,539	14,767	13,722	11,636	11,643
Total Debt Issued	9,497	9,539	14,767	13,722	11,636	11,643
Long-Term Debt Repaid	-	-12,659	-14,235	-13,137	-10,561	-10,423
Total Debt Repaid	-12,710	-12,659	-14,235	-13,137	-10,561	-10,423
Net Debt Issued (Repaid)	-3,213	-3,120	531.9	584.93	1,075	1,220
Common Dividends Paid	-233.63	-372.89	-632.34	-807.97	-709.78	-717.64
Other Financing Activities	3,268	3,268	17.76	-	-6.41	-27.74
Financing Cash Flow	-180.09	-224.77	-82.69	-223.04	359.04	474.45
Net Cash Flow	-244.79	89.68	-259.22	-311.57	55.62	317.48
Free Cash Flow	-71.36	314.77	-530.6	-99.62	-432.53	-283.71
Free Cash Flow Margin	-1.62%	7.07%	-8.46%	-1.40%	-6.58%	-3.89%
Free Cash Flow Per Share	-0.05	0.21	-0.36	-0.07	-0.29	-0.19
Cash Income Tax Paid	242.3	216.91	185.21	20.22	165.62	352.65
Levered Free Cash Flow	104.84	-14.21	-773.32	-754.46	-2,301	531.3
Unlevered Free Cash Flow	268.26	219.88	-388.23	-277.33	-1,856	933.63
Change in Working Capital	-278.57	-278.57	-680.48	499.37	451.71	-583.75

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