SHA:600497 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	1,035	1,293	1,507	670.99	584.42
Depreciation & Amortization	1,570	1,334	1,390	1,406	1,376
Other Amortization	190.16	253.62	34.15	24.21	55.26
Loss (Gain) From Sale of Assets	-1.26	-19.73	-28.03	-61.69	-51.19
Asset Writedown & Restructuring Costs	166.93	264.07	77.56	1,456	724.44
Loss (Gain) From Sale of Investments	-71.92	-46.01	121.43	-115.28	9.9
Provision & Write-off of Bad Debts	-2.26	-1.47	7.82	1.23	-0.07
Other Operating Activities	249.54	231.4	129	204.11	233.46
Change in Accounts Receivable	-103.5	-128.1	49.06	266.15	-39.47
Change in Inventory	-51.97	-536.01	-166.04	-46.8	145.4
Change in Accounts Payable	651.5	-99.65	546.79	-367.05	219.33
Change in Other Net Operating Assets	4.06	3.7	-9.46	-2.92	-13.82
Operating Cash Flow	3,763	2,366	3,606	3,428	3,240
Operating Cash Flow Growth	59.06%	-34.40%	5.22%	5.78%	21.29%
Capital Expenditures	-1,237	-1,082	-921.94	-671.16	-664.6
Sale of Property, Plant & Equipment	9.34	15.84	150.58	60.19	31.73
Cash Acquisitions	-	-1,105	-	-	-332.51
Divestitures	-0	134.43	16.85	22.84	1.12
Sale (Purchase) of Intangibles	-	-	-	-	0.01
Investment in Securities	-116.09	-92	3.94	1.82	62.88
Other Investing Activities	-2.01	425.69	-18.03	-	13.12
Investing Cash Flow	-1,346	-1,703	-768.6	-586.31	-888.25
Long-Term Debt Issued	1,489	1,721	1,816	5,002	3,794
Long-Term Debt Repaid	-2,568	-2,107	-3,461	-7,162	-5,187
Net Debt Issued (Repaid)	-1,079	-385.37	-1,644	-2,160	-1,393
Repurchase of Common Stock	-265.08	-2.79	-	-	-
Common Dividends Paid	-863.95	-803.09	-834.06	-810.14	-555.6
Other Financing Activities	-43.79	-	-7.94	-	-
Financing Cash Flow	-2,252	-1,191	-2,486	-2,970	-1,948
Foreign Exchange Rate Adjustments	-0.54	0.12	0.72	1.04	-0.78
Net Cash Flow	163.86	-528.43	352.22	-127.53	402.99
Free Cash Flow	2,525	1,283	2,685	2,757	2,576
Free Cash Flow Growth	96.79%	-52.20%	-2.61%	7.02%	35.42%
Free Cash Flow Margin	10.50%	6.83%	12.16%	12.59%	11.86%
Free Cash Flow Per Share	0.50	0.25	0.53	0.54	0.51
Cash Interest Paid	0.26	4.03	2.75	-	-
Cash Income Tax Paid	1,486	1,345	1,418	938.56	1,330
Levered Free Cash Flow	2,239	1,120	1,412	1,613	1,513
Unlevered Free Cash Flow	2,278	1,173	1,478	1,737	1,700
Change in Working Capital	625.96	-942.99	367.08	-158.27	277.62

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.