SHA:600444 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	55.78	58.33	40.16	40.05	41.24	48.65
Depreciation & Amortization	8.11	8.11	11.48	12.63	13.17	14.24
Other Amortization	0.02	0.02	0.36	5.68	1	0.84
Loss (Gain) From Sale of Assets	0.36	0.36	1.47	0.14	-	-0.13
Asset Writedown & Restructuring Costs	0.73	0.73	0.11	1.69	0	1.97
Loss (Gain) From Sale of Investments	-0	-0	-1.59	-0.01	-0.01	-
Provision & Write-off of Bad Debts	8.85	8.85	-1.3	5.14	-0.14	-3.23
Other Operating Activities	-51	-5.72	-2.18	-2.54	-4.27	-6.54
Change in Accounts Receivable	107.67	107.67	-22.81	-137.67	50.03	-70.11
Change in Inventory	-59.09	-59.09	-98.88	13.98	33.71	-55.56
Change in Accounts Payable	137.72	137.72	61.37	106.23	-105.01	-0.76
Change in Other Net Operating Assets	2.14	2.14	0.9	0.88	-0.23	-
Operating Cash Flow	200.87	248.7	-10.81	52.38	14.56	-68.12
Operating Cash Flow Growth	227.33%	-	-	259.80%	-	-
Capital Expenditures	-0.36	-0.35	-0.39	-0.53	-3.66	-1.35
Sale of Property, Plant & Equipment	0.88	1.22	3.55	0.06	0.04	0.06
Divestitures	-	1.42	-	-	-	-
Investment in Securities	-208	-243	33	-205	142	-307
Other Investing Activities	6.73	5.83	11.62	3.09	6.57	8.43
Investing Cash Flow	-200.74	-234.87	47.77	-202.38	144.95	-299.86
Long-Term Debt Repaid	-	-4.25	-6.88	-5.34	-6.74	-6.93
Total Debt Repaid	-4.25	-4.25	-6.88	-5.34	-6.74	-6.93
Net Debt Issued (Repaid)	-4.25	-4.25	-6.88	-5.34	-6.74	-6.93
Common Dividends Paid	-16.11	-16.11	-14.64	-19.03	-19.03	-21.96
Financing Cash Flow	-20.35	-20.35	-21.53	-24.38	-25.77	-28.89
Net Cash Flow	-20.22	-6.52	15.43	-174.38	133.74	-396.87
Free Cash Flow	200.51	248.36	-11.21	51.85	10.89	-69.47
Free Cash Flow Growth	228.82%	-	-	375.99%	-	-
Free Cash Flow Margin	22.98%	27.63%	-1.46%	6.87%	1.38%	-8.25%
Free Cash Flow Per Share	1.37	1.70	-0.08	0.35	0.07	-0.47
Cash Income Tax Paid	27.88	15.52	19.45	66.93	46.85	32.88
Levered Free Cash Flow	182.76	231.18	-34.67	35.92	14.52	-85.61
Unlevered Free Cash Flow	183.09	231.53	-34.12	36.32	14.97	-85.08
Change in Working Capital	178.01	178.01	-59.33	-10.4	-36.44	-123.93

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