SHA:600460 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	398.55	219.87	-35.79	1,052	1,518
Depreciation & Amortization	1,358	1,221	886.14	709.51	513.28
Other Amortization	35.07	37.57	33.61	24.7	18.02
Loss (Gain) From Sale of Assets	-4.17	2.75	-11.09	0.49	-0.15
Asset Writedown & Restructuring Costs	38.49	20.16	10.82	4.9	15.9
Loss (Gain) From Sale of Investments	55.27	144.71	395.96	-262.59	-623.5
Provision & Write-off of Bad Debts	37.63	47.25	21.63	23.91	35.5
Other Operating Activities	296.65	294.67	368.76	266.02	228.32
Change in Accounts Receivable	-1,028	-2,555	-1,270	-793.81	-1,171
Change in Inventory	-320.93	-304.71	-590.53	-1,266	-562.89
Change in Accounts Payable	647.5	1,441	541.98	342.2	818.59
Change in Other Net Operating Assets	1.88	-27.02	-2.3	51.24	45.7
Operating Cash Flow	1,498	442.54	316.83	203.75	959.75
Operating Cash Flow Growth	238.44%	39.68%	55.50%	-78.77%	561.78%
Capital Expenditures	-1,669	-1,787	-1,137	-1,566	-947.76
Sale of Property, Plant & Equipment	70.15	52.66	5.43	15.89	7.97
Cash Acquisitions	-	-	10.63	-	-
Investment in Securities	-391.38	-310	95.2	-262.32	-250.09
Other Investing Activities	52.32	83.84	39.97	42.16	-3.6
Investing Cash Flow	-1,938	-1,961	-986.07	-1,770	-1,193
Long-Term Debt Issued	6,185	2,894	3,357	5,191	3,159
Long-Term Debt Repaid	-3,564	-3,247	-3,848	-3,449	-2,764
Net Debt Issued (Repaid)	2,622	-352.11	-491.38	1,742	395.02
Issuance of Common Stock	-	-	5,419	-	1,092
Repurchase of Common Stock	-315.39	-103.41	-48.52	-	-
Common Dividends Paid	-251.92	-188.77	-362.64	-301.52	-155.3
Other Financing Activities	-1,076	509.15	61.84	-5.35	121.65
Financing Cash Flow	979.06	-135.14	4,579	1,435	1,453
Foreign Exchange Rate Adjustments	-6.74	6.9	-6.84	11.66	-1.92
Net Cash Flow	532.23	-1,646	3,903	-119.92	1,218
Free Cash Flow	-171.18	-1,345	-820.47	-1,362	11.99
Free Cash Flow Margin	-1.31%	-11.98%	-8.79%	-16.45%	0.17%
Free Cash Flow Per Share	-0.10	-0.80	-0.46	-0.96	0.01
Cash Income Tax Paid	25.68	260.87	232.79	187.31	171.35
Levered Free Cash Flow	45.27	-1,177	-894.39	-1,588	165.93
Unlevered Free Cash Flow	177.24	-1,015	-712.45	-1,446	288.57
Change in Working Capital	-717.75	-1,545	-1,353	-1,616	-745.35

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