SHA:600535 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	955.59	1,071	-264.24	2,359
Depreciation & Amortization	484.02	504.91	517.95	487.77
Other Amortization	18.48	11.23	14.73	15.23
Loss (Gain) From Sale of Assets	-2.11	-0.15	-1.48	-44.22
Asset Writedown & Restructuring Costs	218.01	1.78	352.26	265.48
Loss (Gain) From Sale of Investments	198.5	270.75	1,158	-1,682
Provision & Write-off of Bad Debts	0.62	8.19	-1.34	-5.35
Other Operating Activities	-73.79	-2.03	-31.24	123.82
Change in Accounts Receivable	78.22	1,243	535.51	1,231
Change in Inventory	18.32	-220.72	-2.86	-198.37
Change in Accounts Payable	121.58	-395.35	36.56	243.78
Change in Other Net Operating Assets	-	67.76	11.01	3.44
Operating Cash Flow	2,015	2,576	2,280	2,801
Operating Cash Flow Growth	-21.78%	12.98%	-18.62%	56.39%
Capital Expenditures	-564.94	-668.82	-404.41	-571.73
Sale of Property, Plant & Equipment	27.58	1.19	1.34	68.92
Cash Acquisitions	-	-	-	-147.31
Divestitures	-	-	-	424.19
Investment in Securities	-287.57	-134.14	-919.91	126.42
Other Investing Activities	-115.99	-1,307	56.75	56.76
Investing Cash Flow	-940.87	-2,109	-1,266	-42.83
Short-Term Debt Issued	1,052	213.91	102.79	1
Long-Term Debt Issued	1,451	1,817	2,711	1,441
Total Debt Issued	2,504	2,031	2,814	1,442
Short-Term Debt Repaid	-1,132	-127	-9.87	-82.14
Long-Term Debt Repaid	-2,597	-1,345	-2,311	-2,717
Total Debt Repaid	-3,729	-1,472	-2,321	-2,799
Net Debt Issued (Repaid)	-1,225	559.55	492.71	-1,358
Repurchase of Common Stock	-	-	-60.8	-56.43
Common Dividends Paid	-1,042	-563.22	-553.97	-610.49
Other Financing Activities	-186.05	-1,193	-114.58	-458.73
Financing Cash Flow	-2,454	-1,196	-236.63	-2,483
Foreign Exchange Rate Adjustments	0.16	-1.26	30.39	1.94
Net Cash Flow	-1,380	-730.54	807.36	276.97
Free Cash Flow	1,450	1,907	1,875	2,229
Free Cash Flow Growth	-23.98%	1.68%	-15.89%	61.28%
Free Cash Flow Margin	17.06%	21.98%	21.71%	28.04%
Free Cash Flow Per Share	0.97	1.28	1.28	1.48
Cash Interest Paid	8.41	-	4.05	-
Cash Income Tax Paid	993.38	1,099	1,106	1,008
Levered Free Cash Flow	956.26	1,348	1,517	2,531
Unlevered Free Cash Flow	994.56	1,400	1,557	2,580
Change in Working Capital	215.24	709.88	535.21	1,281

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