SHA:600573 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	80.14	64.83	48.53	39.85	31.03
Depreciation & Amortization	23.41	23.5	27.35	25.96	31.99
Other Amortization	-	0.02	-	-	-
Asset Writedown & Restructuring Costs	5.49	0.48	2.28	-	3.41
Loss (Gain) From Sale of Investments	-5.64	-1.38	-2.09	-2.05	-4.9
Provision & Write-off of Bad Debts	-	-0.01	0.12	-	0.04
Other Operating Activities	-30.34	-33.22	-31.65	2.45	0.15
Change in Accounts Receivable	-1.49	0.05	-1.52	-0.53	0.37
Change in Inventory	-12.82	3.07	9.18	19.38	-13.68
Change in Accounts Payable	42.2	76.17	27.45	51.89	9.33
Operating Cash Flow	98.61	132.64	75.09	137.82	56.72
Operating Cash Flow Growth	-25.66%	76.63%	-45.51%	142.97%	-34.43%
Capital Expenditures	-9.88	-13.01	-4.31	-1.7	-3.27
Sale of Property, Plant & Equipment	-	0	0.03	-	0
Investment in Securities	-70	-241	-225	-130	-70
Other Investing Activities	-1.01	72.17	61.2	2.24	4.72
Investing Cash Flow	-80.89	-181.83	-168.08	-129.47	-68.55
Short-Term Debt Issued	-	82	20	-	-
Long-Term Debt Issued	46.88	-	-	-	-
Total Debt Issued	46.88	82	20	-	-
Short-Term Debt Repaid	-	-20	-	-	-
Long-Term Debt Repaid	-82	-	-	-	-
Total Debt Repaid	-82	-20	-	-	-
Net Debt Issued (Repaid)	-35.13	62	20	-	-
Common Dividends Paid	-21.91	-15	-12.83	-9.5	-8.75
Other Financing Activities	-	-1.44	-	-	-
Financing Cash Flow	-57.04	45.56	7.17	-9.5	-8.75
Net Cash Flow	-39.32	-3.64	-85.81	-1.14	-20.58
Free Cash Flow	88.73	119.63	70.79	136.12	53.46
Free Cash Flow Growth	-25.83%	69.01%	-48.00%	154.64%	-29.93%
Free Cash Flow Margin	13.86%	18.49%	11.54%	22.19%	9.18%
Free Cash Flow Per Share	0.35	0.48	0.28	0.54	0.21
Cash Income Tax Paid	116.26	117.38	127.54	88.27	102.18
Levered Free Cash Flow	78.2	110.23	73.16	132	53.41
Unlevered Free Cash Flow	78.2	111.14	73.45	132.03	53.41
Change in Working Capital	25.55	78.43	30.55	71.61	-5

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