SHA:600560 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	57.83	52.61	52.51	44.02	46.28
Depreciation & Amortization	9.96	9.5	9.67	9.83	10.17
Other Amortization	0.29	0.11	0.08	0.08	0.08
Loss (Gain) From Sale of Assets	-0.05	-1.39	-0	-	0.02
Asset Writedown & Restructuring Costs	-3.75	1.49	0.23	0.32	0.02
Loss (Gain) From Sale of Investments	-6.41	-1.64	-1.63	-0.43	-1.38
Provision & Write-off of Bad Debts	-	36.33	18.05	1.91	-10.73
Other Operating Activities	18.91	6.03	-2.31	-7.76	13.99
Change in Accounts Receivable	-33.9	-313.24	56.85	-65.7	227.49
Change in Inventory	17.27	61.05	266.01	105.11	-175.93
Change in Accounts Payable	-258.45	76.29	-384.24	-61.9	-10.14
Change in Other Net Operating Assets	-1.3	-1.31	-1.31	-1.45	-
Operating Cash Flow	-204.04	-77.76	12.94	25.85	99.58
Operating Cash Flow Growth	-	-	-49.93%	-74.04%	-
Capital Expenditures	-8.1	-7.15	-0.5	-0.81	-1.17
Sale of Property, Plant & Equipment	0.11	3	0.11	0	0.06
Investment in Securities	16.4	131.78	78.66	-9.98	-108.52
Other Investing Activities	-	1.2	1.5	-	1.6
Investing Cash Flow	8.41	128.83	79.77	-10.78	-108.04
Long-Term Debt Issued	238.88	10	-	-	-
Total Debt Issued	238.88	10	-	-	-
Long-Term Debt Repaid	-5.08	-0.08	-	-	-
Total Debt Repaid	-5.08	-0.08	-	-	-
Net Debt Issued (Repaid)	233.8	9.92	-	-	-
Common Dividends Paid	-18.21	-15.88	-10.42	-14.06	-6.65
Other Financing Activities	-5.36	-0.02	-0.04	1.07	12.04
Financing Cash Flow	210.23	-5.98	-10.46	-12.99	5.39
Net Cash Flow	14.6	45.09	82.26	2.08	-3.08
Free Cash Flow	-212.15	-84.91	12.45	25.04	98.4
Free Cash Flow Growth	-	-	-50.30%	-74.55%	-
Free Cash Flow Margin	-26.78%	-11.48%	1.31%	3.41%	13.92%
Free Cash Flow Per Share	-0.95	-0.38	0.06	0.11	0.44
Cash Income Tax Paid	31.47	42.43	44.32	24.24	33.93
Levered Free Cash Flow	275.32	-93.7	-4.33	14.33	72.6
Unlevered Free Cash Flow	275.32	-93.68	-4.28	14.33	72.6
Change in Working Capital	-280.84	-180.81	-63.66	-22.12	41.13

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