SHA:600399 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	-804.97	111.68	362.34	196.47	783.39
Depreciation & Amortization	557.41	455.56	331.51	236.76	217.65
Other Amortization	0	3.52	1.34	0.71	0.95
Loss (Gain) From Sale of Assets	-0.65	18.67	0.79	-	-3.24
Asset Writedown & Restructuring Costs	258.1	132.21	44.81	30.6	47.24
Loss (Gain) From Sale of Investments	-0.7	-15.95	-29.41	-27.11	-48.4
Provision & Write-off of Bad Debts	-	5.12	10.47	7.01	-48.39
Other Operating Activities	75.07	252.8	188.72	150.15	137.6
Change in Accounts Receivable	-989.94	-577.43	-776.95	440.01	366.15
Change in Inventory	-576.01	-559.5	-241.49	-381.76	-599.74
Change in Accounts Payable	121.37	-194.46	293.83	-680.35	-513.75
Operating Cash Flow	-1,370	-376.57	180.39	44.13	340.17
Operating Cash Flow Growth	-	-	308.75%	-87.03%	-45.10%
Capital Expenditures	-338.19	-446.49	-694.8	-339.14	-256.93
Sale of Property, Plant & Equipment	6.81	1.21	0	0.09	3.39
Investment in Securities	60	381.25	-60	374	156
Other Investing Activities	11.77	17.47	18.54	33.65	43.56
Investing Cash Flow	-259.6	-46.57	-736.26	68.6	-53.98
Long-Term Debt Issued	2,037	2,368	229.3	230	-
Total Debt Issued	2,037	2,368	229.3	230	-
Long-Term Debt Repaid	-1,110	-1,286	-51.64	-100	-64.5
Total Debt Repaid	-1,110	-1,286	-51.64	-100	-64.5
Net Debt Issued (Repaid)	926.67	1,083	177.66	130	-64.5
Repurchase of Common Stock	-	-70.02	-	-	-
Common Dividends Paid	-111.23	-198.87	-86.97	-76.67	-76
Other Financing Activities	-1.73	-	-	-	-
Financing Cash Flow	813.71	813.68	90.7	53.33	-140.5
Foreign Exchange Rate Adjustments	1.12	0.88	-3.46	-1.23	-8
Net Cash Flow	-814.78	391.42	-468.64	164.83	137.69
Free Cash Flow	-1,708	-823.06	-514.41	-295.01	83.24
Free Cash Flow Growth	-	-	-	-	-84.42%
Free Cash Flow Margin	-21.95%	-9.70%	-6.00%	-3.77%	1.12%
Free Cash Flow Per Share	-0.87	-0.44	-0.26	-0.15	0.04
Cash Income Tax Paid	58.17	153.1	115.63	155.49	237.63
Levered Free Cash Flow	-557.47	522.09	-648.79	599.34	206.73
Unlevered Free Cash Flow	-557.47	573.99	-595.41	645.86	261.12
Change in Working Capital	-1,454	-1,340	-730.18	-550.45	-746.62

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