SHA:600523 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	192.62	177.65	164.15	122.78	152.9
Depreciation & Amortization	101.44	103.02	100.34	91.35	113.69
Other Amortization	8.3	1.14	1.17	2.54	3.98
Loss (Gain) From Sale of Assets	-24.57	-6.73	3	-0.14	1.22
Asset Writedown & Restructuring Costs	6.12	1.99	0.35	-1.45	2.1
Loss (Gain) From Sale of Investments	-100.94	-53.15	-64.62	-27.58	-33.23
Provision & Write-off of Bad Debts	8.28	16.3	39.15	30.27	20.46
Other Operating Activities	34.34	26.11	17.93	26.28	32.38
Change in Accounts Receivable	198.95	-353.84	-346.38	-12.58	7.24
Change in Inventory	-150.19	0.32	-13.19	-86.21	-25.83
Change in Accounts Payable	-144.88	110.04	227.23	-5.45	-37.65
Change in Other Net Operating Assets	-14.89	-12.24	1.07	4	-4.59
Operating Cash Flow	100.56	8.21	130.83	140.99	233.24
Operating Cash Flow Growth	1124.84%	-93.73%	-7.20%	-39.55%	7.31%
Capital Expenditures	-112.53	-123.32	-130.95	-139.1	-152.27
Sale of Property, Plant & Equipment	21.05	8.11	0.31	3.88	11.16
Other Investing Activities	34.69	29.77	34.53	-44.82	46.11
Investing Cash Flow	-56.8	-85.44	-96.12	-180.04	-95
Short-Term Debt Issued	-	50	7.35	-	-
Total Debt Issued	-	50	7.35	-	-
Short-Term Debt Repaid	-50	-	-	-	-
Long-Term Debt Repaid	-2.94	-2.04	-1.48	-1.61	-0.95
Total Debt Repaid	-52.94	-2.04	-1.48	-1.61	-0.95
Net Debt Issued (Repaid)	-52.94	47.96	5.87	-1.61	-0.95
Repurchase of Common Stock	-	-2.27	-	-	-
Common Dividends Paid	-54.39	-49.33	-49.66	-53.77	-80.86
Other Financing Activities	-6.5	-6.28	-6.22	2.66	-22.58
Financing Cash Flow	-113.84	-9.92	-50.02	-52.72	-104.4
Foreign Exchange Rate Adjustments	0.09	-0.3	0.17	0.49	-0.53
Net Cash Flow	-70	-87.45	-15.13	-91.29	33.31
Free Cash Flow	-11.98	-115.11	-0.12	1.89	80.97
Free Cash Flow Growth	-	-	-	-97.66%	-41.23%
Free Cash Flow Margin	-0.47%	-4.84%	-0.01%	0.09%	3.38%
Free Cash Flow Per Share	-0.03	-0.28	-	0.01	0.20
Cash Interest Paid	-	-	-	-	0.16
Cash Income Tax Paid	168.34	118.96	145.1	73.54	112.19
Levered Free Cash Flow	-31.47	-74.17	40.42	93.55	66.16
Unlevered Free Cash Flow	-30.81	-73.59	40.61	93.6	66.26
Change in Working Capital	-125.03	-258.13	-130.63	-103.06	-60.25

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