SHA:600467 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	31.13	29.87	43.43	49.45	59.63	66.18
Depreciation & Amortization	226.11	226.11	217.9	221.6	233.99	219.26
Other Amortization	54.77	54.77	54.87	64.37	58.6	70.56
Loss (Gain) From Sale of Assets	4.09	4.09	6.86	2.59	3.48	-0.08
Asset Writedown & Restructuring Costs	-	-	-	2.96	-	1.43
Loss (Gain) From Sale of Investments	-20.93	-20.93	-9.12	-3.06	3.27	-12.54
Provision & Write-off of Bad Debts	0.84	0.84	-0.08	-0.01	0.75	-1.03
Other Operating Activities	180.28	170.14	126.94	137.35	111.83	115.51
Change in Accounts Receivable	3.68	3.68	-32.22	21.42	29.54	-37.63
Change in Inventory	23.77	23.77	205.28	379.09	-217.15	-41.77
Change in Accounts Payable	-39.91	-39.91	-22.96	-11.35	-18.57	-0.08
Operating Cash Flow	462.35	450.94	588.13	867.77	257.18	380.13
Operating Cash Flow Growth	-23.29%	-23.33%	-32.23%	237.41%	-32.34%	11.05%
Capital Expenditures	-403.88	-452.12	-731.41	-773.33	-146.6	-234.99
Sale of Property, Plant & Equipment	21.02	21.03	0.29	68.29	31.9	16.92
Divestitures	39	39	-	-	-0.12	-
Investment in Securities	32.29	32.29	10.04	31.85	9.63	7.5
Other Investing Activities	14.72	13.54	18.33	3.42	9.27	14.89
Investing Cash Flow	-296.84	-346.26	-702.76	-669.77	-95.92	-195.68
Long-Term Debt Issued	-	3,578	3,222	2,914	2,608	2,864
Long-Term Debt Repaid	-	-3,480	-3,021	-3,035	-2,653	-2,922
Net Debt Issued (Repaid)	320.31	97.68	200.44	-121.29	-45.85	-57.88
Common Dividends Paid	-170.75	-175.06	-149.69	-153.87	-140.1	-133.21
Other Financing Activities	-316.44	-46.06	-2.15	86	40.07	-75.23
Financing Cash Flow	-166.89	-123.44	48.61	-189.16	-145.88	-266.31
Foreign Exchange Rate Adjustments	1.87	1.87	1	1.1	0.12	-0.8
Net Cash Flow	0.5	-16.88	-65.02	9.94	15.5	-82.66
Free Cash Flow	58.48	-1.18	-143.29	94.44	110.58	145.14
Free Cash Flow Growth	-	-	-	-14.60%	-23.81%	-
Free Cash Flow Margin	5.35%	-0.11%	-10.12%	6.04%	9.27%	11.58%
Free Cash Flow Per Share	0.04	-0.00	-0.10	0.07	0.08	0.10
Cash Income Tax Paid	-	1.31	3.18	-2.34	-40.6	-2.33
Levered Free Cash Flow	-130.13	-211.46	-437.96	260.76	-86.04	19.1
Unlevered Free Cash Flow	-25.21	-106.54	-361.25	345.36	-22.59	93.66
Change in Working Capital	-13.94	-13.94	147.34	392.53	-214.38	-79.16

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