SHA:600468 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	82.61	89.06	-109.44	118.79	120.98	104.71
Depreciation & Amortization	59.07	59.07	60.43	59.57	60.2	64.33
Other Amortization	3.24	3.24	0.8	0.81	0.72	0.34
Loss (Gain) From Sale of Assets	-0.14	-0.14	0.15	0.03	-0.55	0.22
Asset Writedown & Restructuring Costs	0.1	0.1	217.66	10.42	0.22	0.85
Loss (Gain) From Sale of Investments	-43.6	-43.6	-40.32	-35.75	-22.25	-9.32
Provision & Write-off of Bad Debts	5.45	5.45	3.36	15.73	12.6	5.56
Other Operating Activities	-50.49	15.31	31.92	35.04	28.19	45.99
Change in Accounts Receivable	-267.04	-267.04	19.67	91.92	-275.14	37.88
Change in Inventory	-71.22	-71.22	8.8	-29.43	134.73	2.36
Change in Accounts Payable	449.48	449.48	-0.69	-54.83	136.12	-35.5
Operating Cash Flow	164.62	236.86	190.26	210.67	190.47	214.71
Operating Cash Flow Growth	12.45%	24.49%	-9.69%	10.61%	-11.29%	38.69%
Capital Expenditures	-75.11	-86.14	-59.04	-41.42	-80.88	-73.96
Sale of Property, Plant & Equipment	0.43	0.53	1.25	0.09	1.14	0.4
Cash Acquisitions	-	-	-	-	-108.54	-99.22
Investment in Securities	25.89	25.89	22.62	9.45	-	5.04
Other Investing Activities	0	-	-	18	-5	32
Investing Cash Flow	-48.79	-59.73	-35.17	-13.88	-193.28	-135.74
Long-Term Debt Issued	-	187.62	239.96	266	290.22	159.6
Total Debt Issued	147.77	187.62	239.96	266	290.22	159.6
Long-Term Debt Repaid	-	-300.31	-263.77	-300.9	-159.7	-165.95
Total Debt Repaid	-220.42	-300.31	-263.77	-300.9	-159.7	-165.95
Net Debt Issued (Repaid)	-72.65	-112.69	-23.82	-34.9	130.52	-6.35
Common Dividends Paid	-28.61	-28.15	-44.44	-45.33	-31.64	-40.71
Other Financing Activities	5.59	3.47	-8.27	-6.81	-32.87	-7.75
Financing Cash Flow	-95.67	-137.37	-76.52	-87.04	66.01	-54.81
Foreign Exchange Rate Adjustments	-0.72	1.15	0.29	1.36	1.21	-2.15
Net Cash Flow	19.44	40.91	78.86	111.11	64.41	22
Free Cash Flow	89.5	150.71	131.22	169.25	109.59	140.75
Free Cash Flow Growth	-6.89%	14.86%	-22.47%	54.44%	-22.14%	14.58%
Free Cash Flow Margin	3.91%	6.80%	6.69%	8.32%	4.91%	6.02%
Free Cash Flow Per Share	0.08	0.14	0.12	0.16	0.10	0.13
Cash Income Tax Paid	63.36	67.83	69.04	105.93	82.39	83.05
Levered Free Cash Flow	222.73	416.7	103.63	-1.46	-8.51	-154.78
Unlevered Free Cash Flow	231.98	425.68	112.72	10.62	2.22	-141.81
Change in Working Capital	108.37	108.37	25.71	6.03	-9.63	2.02

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