SHA:600426 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	3,315	3,903	3,576	6,289	7,271
Depreciation & Amortization	3,185	2,760	1,901	1,774	1,416
Other Amortization	54.8	52.3	164.12	10	10
Loss (Gain) From Sale of Assets	-3.11	-5.35	0.03	-0.16	-0.12
Asset Writedown & Restructuring Costs	1.32	0.83	-5.24	0.69	-15.28
Loss (Gain) From Sale of Investments	-0.67	-	-18.61	-38.46	-29.51
Provision & Write-off of Bad Debts	-3.38	1.72	1.16	-2.4	3.4
Other Operating Activities	634.28	545.46	172.19	96.68	151.12
Change in Accounts Receivable	-2,891	-2,001	898.77	482.32	-3,797
Change in Inventory	-199.38	146.39	-353.33	-144.22	-804
Change in Accounts Payable	61.15	-513.64	-1,386	-1,685	722.87
Change in Other Net Operating Assets	19.69	56.84	-213.77	216.89	-1.11
Operating Cash Flow	4,198	4,968	4,715	6,999	4,923
Operating Cash Flow Growth	-15.51%	5.36%	-32.63%	42.18%	64.39%
Capital Expenditures	-3,650	-5,081	-8,711	-6,970	-3,690
Sale of Property, Plant & Equipment	3.6	6.17	5.96	39.57	12.8
Investment in Securities	-	-	1,400	-400	-
Other Investing Activities	0.71	-	25	38.46	30.76
Investing Cash Flow	-3,646	-5,075	-7,280	-7,292	-3,646
Short-Term Debt Issued	274.99	266.44	-	-	-
Long-Term Debt Issued	3,163	2,048	4,566	2,266	1,516
Total Debt Issued	3,438	2,315	4,566	2,266	1,516
Long-Term Debt Repaid	-1,684	-483.99	-473.12	-925.41	-1,713
Net Debt Issued (Repaid)	1,754	1,831	4,093	1,340	-196.84
Issuance of Common Stock	-	-	-	254.45	-
Repurchase of Common Stock	-168.55	-0.91	-	-0.23	-16.43
Common Dividends Paid	-1,478	-2,203	-1,935	-1,818	-613.11
Other Financing Activities	-27.56	-15	500	500	270
Financing Cash Flow	80.22	-388.1	2,658	276.29	-556.38
Foreign Exchange Rate Adjustments	6.52	18.87	6.58	2.88	-3.12
Net Cash Flow	638.61	-475.67	100.65	-13.47	717.47
Free Cash Flow	547.56	-112.6	-3,995	29.33	1,233
Free Cash Flow Growth	-	-	-	-97.62%	225.42%
Free Cash Flow Margin	1.77%	-0.33%	-14.66%	0.10%	4.61%
Free Cash Flow Per Share	0.26	-0.05	-1.89	0.01	0.58
Cash Income Tax Paid	1,747	1,839	1,584	2,418	1,987
Levered Free Cash Flow	92.6	-195.69	-2,180	-764.47	-188.57
Unlevered Free Cash Flow	265.43	-33.99	-2,119	-707.54	-120.07
Change in Working Capital	-3,009	-2,313	-1,075	-1,130	-3,883

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