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 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	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	4.29	2.53	8.29	-44.61	45.2	42.53
Depreciation & Amortization	254.12	254.12	256.94	248.45	174.07	146.45
Other Amortization	0.36	0.36	0.89	0.59	0.59	0.36
Loss (Gain) on Sale of Assets	-	-	1.33	-	-	-
Loss (Gain) on Sale of Investments	0.07	0.07	-0.76	4.29	-1.16	-1.11
Asset Writedown	0.8	0.8	0.22	3.51	1.13	1.64
Change in Accounts Receivable	27.31	27.31	-44.07	-23.88	-19.6	-55.2
Change in Inventory	-0.16	-0.16	-1.44	-9.7	-2.3	6.01
Change in Accounts Payable	14.94	14.94	-61.21	-56.77	65.09	22.78
Change in Other Net Operating Assets	6.48	6.48	1.75	-3	-4.82	-10.5
Other Operating Activities	34.04	79.85	78.76	77.89	58.33	39.75
Operating Cash Flow	342.08	386.13	244.72	201.36	315.14	195.68
Operating Cash Flow Growth	-3.97%	57.79%	21.53%	-36.10%	61.05%	-24.15%
Capital Expenditures	-97.09	-124.79	-52.96	-127.57	-311.96	-547.93
Sale of Property, Plant & Equipment	2.61	2.61	2.78	0.06	0.07	0
Investment in Securities	2.5	2.5	-	-	-	0.5
Other Investing Activities	24.13	24.15	20.41	82.38	-7.29	-5.75
Investing Cash Flow	-67.84	-95.53	-29.78	-45.13	-319.17	-553.18
Long-Term Debt Issued	-	35	97.42	225.88	454.72	418.7
Total Debt Issued	25	35	97.42	225.88	454.72	418.7
Long-Term Debt Repaid	-	-253.83	-227.7	-362.04	-228.97	-51.68
Total Debt Repaid	-203.83	-253.83	-227.7	-362.04	-228.97	-51.68
Net Debt Issued (Repaid)	-178.83	-218.83	-130.28	-136.16	225.75	367.01
Common Dividends Paid	-68.66	-71.37	-88.77	-102.68	-85.24	-89.57
Other Financing Activities	-11.83	-11.83	-4.54	-1.96	-58.77	-
Financing Cash Flow	-259.31	-302.03	-223.59	-240.8	81.74	277.45
Net Cash Flow	14.93	-11.43	-8.64	-84.56	77.71	-80.05
Free Cash Flow	244.99	261.34	191.76	73.79	3.19	-352.24
Free Cash Flow Growth	-16.44%	36.29%	159.86%	2216.83%	-	-
Free Cash Flow Margin	16.37%	17.29%	13.19%	5.25%	0.25%	-32.57%
Free Cash Flow Per Share	0.67	0.72	0.53	0.20	0.01	-0.97
Cash Income Tax Paid	142	142	139.9	93.75	35.61	89.19
Levered Free Cash Flow	338.44	248.4	134.66	94.18	-130.98	-302.37
Unlevered Free Cash Flow	338.55	248.4	187.33	149.13	-103.46	-290.05
Change in Working Capital	48.4	48.4	-105.84	-94.42	38.43	-37.65

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