SHA:600479 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	375.67	230.76	320.41	302.51	302.06
Depreciation & Amortization	108	97.92	103.65	95.6	85.93
Other Amortization	16.03	22.63	18.53	16.8	16.22
Loss (Gain) From Sale of Assets	-1.88	-0.5	-	-	-33.54
Asset Writedown & Restructuring Costs	2.26	4.69	0.94	-0.17	0.43
Loss (Gain) From Sale of Investments	-44.19	-16.22	-15.87	-19.65	-26.41
Provision & Write-off of Bad Debts	-	5.61	17.84	2.17	-0.29
Other Operating Activities	4.52	78.83	79.28	88.17	75.41
Change in Accounts Receivable	-180.78	18.73	-8.69	-163.72	275.85
Change in Inventory	-8.47	44.61	62.29	-51.22	-52.4
Change in Accounts Payable	244.4	-147.8	-132.49	465.43	-160.39
Change in Other Net Operating Assets	-35.42	60.88	-	-	-
Operating Cash Flow	480.24	398.77	443.12	733.47	485.57
Operating Cash Flow Growth	20.43%	-10.01%	-39.59%	51.05%	-10.47%
Capital Expenditures	-124.17	-47.32	-43.99	-34.43	-71.88
Sale of Property, Plant & Equipment	2.22	0.39	0.06	0.2	30.82
Investment in Securities	-813.62	-700	618.4	130.07	-25.18
Other Investing Activities	4.57	5.75	10.82	26.32	22.9
Investing Cash Flow	-931	-741.18	585.29	122.15	-43.34
Long-Term Debt Issued	-	-	42.15	-	60
Long-Term Debt Repaid	-7	-69.41	-74.6	-43.83	-149.85
Net Debt Issued (Repaid)	-7	-69.41	-32.46	-43.83	-89.85
Issuance of Common Stock	2	-	0.44	48.59	-
Repurchase of Common Stock	-	-16.54	-3.38	-	-
Common Dividends Paid	-152.68	-152.82	-147.89	-248.65	-429.53
Other Financing Activities	8.68	-11.36	-18.72	-20.29	-1.2
Financing Cash Flow	-149	-250.12	-202	-264.19	-520.58
Net Cash Flow	-599.75	-592.54	826.4	591.43	-78.35
Free Cash Flow	356.08	351.45	399.13	699.04	413.69
Free Cash Flow Growth	1.32%	-11.95%	-42.90%	68.97%	-7.06%
Free Cash Flow Margin	9.81%	9.68%	10.51%	17.36%	11.29%
Free Cash Flow Per Share	0.83	0.85	0.94	1.63	0.99
Cash Income Tax Paid	330.15	347.79	329.57	290.93	319.05
Levered Free Cash Flow	352.11	226.34	241.45	716.2	333.96
Unlevered Free Cash Flow	352.11	227.04	242.5	717.59	335.28
Change in Working Capital	19.83	-24.94	-81.67	248.05	65.76

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