SHA:600540 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-125.48	-149.1	-243.99	14.71	-278.22	-166.55
Depreciation & Amortization	37.26	37.26	38.74	41.61	47.82	47.85
Other Amortization	0.06	0.06	0.12	-	-	-
Loss (Gain) From Sale of Assets	0	0	0.01	0.11	-2.51	-0.01
Asset Writedown & Restructuring Costs	146.99	146.99	17.89	0.65	2.18	1.27
Loss (Gain) From Sale of Investments	-145.13	-145.13	-69.36	-53.15	7.62	-37.48
Provision & Write-off of Bad Debts	-	-	3.52	2.09	2.09	4.05
Other Operating Activities	1,720	77.55	155.19	33.37	28.66	139.55
Change in Accounts Receivable	446.64	446.64	-292.74	8.36	-430.87	-66.97
Change in Inventory	-1,145	-1,145	-1,215	-506.11	796.76	-617.73
Change in Accounts Payable	-586.35	-586.35	166.87	29.28	326.61	23.24
Operating Cash Flow	348.79	-1,317	-1,436	-429.06	499.51	-668.2
Capital Expenditures	-14.24	-14.27	-96.01	-124.28	-102.67	-8.82
Sale of Property, Plant & Equipment	0	0	0	0.64	6.4	0.13
Divestitures	0.05	0.05	23.11	-	0.57	-
Investment in Securities	-	-	-	32.03	-	-27.6
Other Investing Activities	-563.58	-807.89	20.8	-193.31	-6.62	45.55
Investing Cash Flow	-577.77	-822.12	-52.11	-284.91	-102.33	9.27
Long-Term Debt Issued	-	7,941	4,846	2,578	1,507	1,950
Total Debt Issued	7,512	7,941	4,846	2,578	1,507	1,950
Short-Term Debt Repaid	-	-	-	-	-	-63.58
Long-Term Debt Repaid	-	-5,478	-3,121	-1,947	-1,860	-1,054
Total Debt Repaid	-7,077	-5,478	-3,121	-1,947	-1,860	-1,118
Net Debt Issued (Repaid)	434.7	2,463	1,725	631.09	-353.12	832.39
Issuance of Common Stock	-	-	-	-	555	-
Common Dividends Paid	-91.86	-90.74	-59.85	-43.07	-41.11	-38.27
Other Financing Activities	-0.62	-0.83	-0.76	2.06	7.1	-5.07
Financing Cash Flow	342.23	2,371	1,664	590.07	167.87	789.05
Net Cash Flow	113.25	231.67	176.07	-123.9	565.05	130.11
Free Cash Flow	334.55	-1,332	-1,532	-553.34	396.84	-677.02
Free Cash Flow Margin	9.29%	-44.21%	-93.60%	-56.95%	29.97%	-61.72%
Free Cash Flow Per Share	0.56	-2.25	-2.63	-0.95	0.68	-1.44
Cash Income Tax Paid	14.03	9.04	6.66	16.87	-16.34	10.3
Levered Free Cash Flow	237.86	-1,422	-1,558	-567.83	515.96	-599.28
Unlevered Free Cash Flow	237.86	-1,422	-1,520	-548.33	537.78	-578.94
Change in Working Capital	-1,285	-1,285	-1,338	-468.45	691.88	-656.88

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