SHA:600505 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	15.7	8.29	-44.61	45.2	42.53	34.15
Depreciation & Amortization	256.94	256.94	248.45	174.07	146.45	148.1
Other Amortization	0.89	0.89	0.59	0.59	0.36	0.66
Loss (Gain) on Sale of Assets	1.33	1.33	-	-	-	-0.07
Loss (Gain) on Sale of Investments	-0.76	-0.76	4.29	-1.16	-1.11	-0.56
Asset Writedown	0.22	0.22	3.51	1.13	1.64	-0.27
Change in Accounts Receivable	-44.07	-44.07	-23.88	-19.6	-55.2	-26.35
Change in Inventory	-1.44	-1.44	-9.7	-2.3	6.01	8.43
Change in Accounts Payable	-61.21	-61.21	-56.77	65.09	22.78	51.85
Change in Other Net Operating Assets	1.75	1.75	-3	-4.82	-10.5	-5.01
Other Operating Activities	220.69	78.76	77.89	58.33	39.75	45.16
Operating Cash Flow	394.06	244.72	201.36	315.14	195.68	258
Operating Cash Flow Growth	90.95%	21.53%	-36.10%	61.05%	-24.15%	33.17%
Capital Expenditures	-110.52	-52.96	-127.57	-311.96	-547.93	-439.67
Sale of Property, Plant & Equipment	2.78	2.78	0.06	0.07	0	0
Investment in Securities	2.5	-	-	-	0.5	0.73
Other Investing Activities	20.12	20.41	82.38	-7.29	-5.75	-10
Investing Cash Flow	-85.11	-29.78	-45.13	-319.17	-553.18	-448.93
Long-Term Debt Issued	-	97.42	225.88	454.72	418.7	300.73
Total Debt Issued	35	97.42	225.88	454.72	418.7	300.73
Long-Term Debt Repaid	-	-227.7	-362.04	-228.97	-51.68	-27.36
Total Debt Repaid	-236.42	-227.7	-362.04	-228.97	-51.68	-27.36
Net Debt Issued (Repaid)	-201.42	-130.28	-136.16	225.75	367.01	273.38
Common Dividends Paid	-76.2	-88.77	-102.68	-85.24	-89.57	-79.32
Other Financing Activities	-4.54	-4.54	-1.96	-58.77	-	29.05
Financing Cash Flow	-282.16	-223.59	-240.8	81.74	277.45	223.11
Net Cash Flow	26.79	-8.64	-84.56	77.71	-80.05	32.18
Free Cash Flow	283.54	191.76	73.79	3.19	-352.24	-181.66
Free Cash Flow Growth	70.46%	159.86%	2216.83%	-	-	-
Free Cash Flow Margin	18.30%	13.19%	5.25%	0.25%	-32.57%	-18.89%
Free Cash Flow Per Share	0.78	0.53	0.20	0.01	-0.97	-0.50
Cash Income Tax Paid	141.54	139.9	93.75	35.61	89.19	69.06
Levered Free Cash Flow	220.21	134.66	94.18	-130.98	-302.37	-126.86
Unlevered Free Cash Flow	263.35	187.33	149.13	-103.46	-290.05	-113.87
Change in Working Capital	-105.84	-105.84	-94.42	38.43	-37.65	26.93

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.