SHA:600415 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	4,204	3,074	2,676	1,105	1,334
Depreciation & Amortization	829.58	751.1	800.05	696.22	665.25
Other Amortization	172.46	139.24	88.08	67.64	70.26
Loss (Gain) From Sale of Assets	-2.22	-0.26	-153.8	0.56	0.56
Asset Writedown & Restructuring Costs	0.03	0.35	14.69	0.19	-
Loss (Gain) From Sale of Investments	-486.85	-275.85	-1,034	-1,089	-776.81
Provision & Write-off of Bad Debts	10.69	13.64	-2.14	2.02	6.34
Other Operating Activities	66.26	146.54	90.15	294.97	328.2
Change in Accounts Receivable	202.13	-624.58	-764.67	210.88	-912.16
Change in Inventory	-357.19	-1,143	83.11	-2.89	-8.18
Change in Accounts Payable	5,910	2,453	21.51	89.5	1,363
Change in Other Net Operating Assets	-78.61	-52.22	16.51	28.16	-
Operating Cash Flow	10,529	4,491	1,845	1,400	2,033
Operating Cash Flow Growth	134.43%	143.43%	31.78%	-31.14%	145.31%
Capital Expenditures	-2,182	-1,500	-2,628	-4,115	-2,043
Sale of Property, Plant & Equipment	805.88	258.08	200.36	13.48	44.45
Cash Acquisitions	-	-	-	-312.62	-
Divestitures	-	-0.21	12.48	-	-
Investment in Securities	-4,443	2,209	891.46	671.84	1,209
Other Investing Activities	169.73	256.56	148.34	1,380	2,440
Investing Cash Flow	-5,649	1,223	-1,375	-2,363	1,651
Long-Term Debt Issued	3,798	6,393	7,594	14,419	12,319
Long-Term Debt Repaid	-7,910	-8,084	-6,533	-14,810	-13,382
Net Debt Issued (Repaid)	-4,112	-1,691	1,060	-390.25	-1,062
Issuance of Common Stock	-	-	-	-	5.59
Repurchase of Common Stock	-0.18	-2	-4.93	-14.93	-2.83
Common Dividends Paid	-1,993	-1,402	-594.92	-652.04	-650.82
Other Financing Activities	-0.55	-	-	-	8.4
Financing Cash Flow	-6,106	-3,095	460.49	-1,057	-1,702
Foreign Exchange Rate Adjustments	-17.65	-0.92	-1.57	-5.44	-8.09
Net Cash Flow	-1,244	2,618	928.98	-2,025	1,974
Free Cash Flow	8,347	2,991	-782.57	-2,715	-9.54
Free Cash Flow Growth	179.07%	-	-	-	-
Free Cash Flow Margin	41.89%	19.01%	-6.93%	-35.63%	-0.16%
Free Cash Flow Per Share	1.53	0.55	-0.14	-0.49	-0.00
Cash Income Tax Paid	1,885	1,051	566.59	485.46	786.97
Levered Free Cash Flow	1,800	3,308	-345.06	-1,834	1,724
Unlevered Free Cash Flow	1,850	3,396	-223.33	-1,661	1,926
Change in Working Capital	5,736	642.9	-633.98	322.34	405.19

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