SHA:600409 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-20.62	51.88	499.02	565.67	988.69	1,671
Depreciation & Amortization	1,287	1,287	1,235	1,220	1,212	1,233
Other Amortization	2.04	2.04	5.14	1.73	1.22	0.6
Loss (Gain) From Sale of Assets	-1.62	-1.62	-2.19	-17.91	-3.94	-1.52
Asset Writedown & Restructuring Costs	51.49	51.49	22.82	51.17	26.99	39.31
Loss (Gain) From Sale of Investments	-15.45	-15.45	-1.31	-0.74	-9.42	-4.91
Provision & Write-off of Bad Debts	-	-	-2.66	-1.91	1.29	17.5
Other Operating Activities	72.27	150.35	371.75	669.45	718.27	571.65
Change in Accounts Receivable	-321.72	-321.72	202.94	-636.22	-772.35	-1,397
Change in Inventory	266.18	266.18	-169.92	248.73	444.95	-787.36
Change in Accounts Payable	-626.7	-626.7	-300.09	-359.39	-46.49	210.68
Operating Cash Flow	694.16	844.74	1,806	1,678	2,406	1,580
Operating Cash Flow Growth	-53.95%	-53.22%	7.62%	-30.28%	52.30%	-24.27%
Capital Expenditures	-1,552	-1,542	-1,090	-337.36	-375.65	-66.66
Sale of Property, Plant & Equipment	9.24	6.57	5.81	9.42	8.18	5.03
Investment in Securities	198.93	-1.75	-	-0.01	-17.62	-
Other Investing Activities	7.85	10.99	-	6	-13.92	0
Investing Cash Flow	-1,336	-1,526	-1,085	-321.95	-399.01	-61.62
Long-Term Debt Issued	-	3,111	2,501	4,211	5,441	5,465
Long-Term Debt Repaid	-	-2,109	-2,320	-6,099	-4,969	-5,927
Net Debt Issued (Repaid)	891.44	1,002	180.15	-1,887	471.49	-462.04
Common Dividends Paid	-259.44	-257.55	-340.43	-558.63	-747.7	-748.24
Other Financing Activities	66.23	66.41	-111.94	-422.3	-178.57	-28.54
Financing Cash Flow	698.23	811.12	-272.22	-2,868	-454.78	-1,239
Foreign Exchange Rate Adjustments	-10.78	-15.64	-16.25	10.82	48.17	-1.94
Net Cash Flow	45.62	114.37	432.61	-1,502	1,601	277.55
Free Cash Flow	-857.85	-696.92	715.27	1,340	2,031	1,513
Free Cash Flow Growth	-	-	-46.63%	-33.99%	34.18%	-22.64%
Free Cash Flow Margin	-4.62%	-3.70%	3.35%	6.12%	8.58%	6.53%
Free Cash Flow Per Share	-0.42	-0.34	0.35	0.65	0.98	0.73
Cash Income Tax Paid	644.28	660.36	1,068	1,289	1,620	1,365
Levered Free Cash Flow	-33.92	136.82	1,341	2,255	2,404	-161.98
Unlevered Free Cash Flow	-33.92	136.82	1,431	2,409	2,569	12.1
Change in Working Capital	-681.21	-681.21	-321.49	-809.83	-528.48	-1,947

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