SHA:600506 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	12.06	31.39	-48.98	-84.22	-35.93
Depreciation & Amortization	34.54	37.04	47.43	60.3	13.25
Other Amortization	-	3.58	-	-	-
Loss (Gain) From Sale of Assets	7.19	-6.47	13.96	0.66	0
Asset Writedown & Restructuring Costs	32.34	-	22.57	50.84	1.59
Loss (Gain) From Sale of Investments	-0.27	-0.14	-	-1.07	-0.18
Provision & Write-off of Bad Debts	-	-5.27	0.33	23.26	2.77
Other Operating Activities	24.59	65.19	53.55	-15.2	12.65
Change in Accounts Receivable	-128.27	-135.48	-84.52	83.52	6.33
Change in Inventory	-22.92	32.5	126.54	32.33	57.8
Change in Accounts Payable	389.96	397.47	247.27	-40.54	-64.92
Operating Cash Flow	343.77	427.92	357.98	72.63	-7.97
Operating Cash Flow Growth	-19.67%	19.54%	392.91%	-	-
Capital Expenditures	-66.06	-16.58	-15.08	-8.3	-4.64
Sale of Property, Plant & Equipment	1.76	44.03	1.8	0.13	-
Investment in Securities	0.12	-	17.01	-90	2
Other Investing Activities	-1.91	0.14	-1.14	1.07	-965.46
Investing Cash Flow	-66.08	27.59	2.58	-97.11	-968.1
Long-Term Debt Issued	245.27	317.33	268.55	317.11	1,165
Long-Term Debt Repaid	-981.22	-803.04	-813.12	-241.56	-5.41
Net Debt Issued (Repaid)	-735.94	-485.71	-544.57	75.55	1,160
Issuance of Common Stock	-	-	-	293.98	-
Common Dividends Paid	-24.12	-57.15	-68.09	-82.07	-1.12
Other Financing Activities	390.43	-	-0.89	-0.04	-
Financing Cash Flow	-369.64	-542.86	-613.54	287.43	1,159
Foreign Exchange Rate Adjustments	0.09	0.16	-0	-0.04	-1.29
Net Cash Flow	-91.86	-87.18	-252.98	262.91	181.52
Free Cash Flow	277.71	411.34	342.91	64.33	-12.6
Free Cash Flow Growth	-32.49%	19.96%	433.06%	-	-
Free Cash Flow Margin	11.52%	17.78%	15.32%	3.20%	-3.61%
Free Cash Flow Per Share	1.44	2.14	1.79	0.43	-0.09
Cash Income Tax Paid	89.02	66.62	113.13	74.26	1.14
Levered Free Cash Flow	15.31	102.43	96.49	-1,272	1,141
Unlevered Free Cash Flow	15.31	140.38	143.72	-1,212	1,144
Change in Working Capital	233.32	302.6	269.13	38.06	-2.11

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