SHA:600573 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	81.9	79.99	64.83	48.53	39.85	31.03
Depreciation & Amortization	23.39	23.39	23.51	27.35	25.96	31.99
Other Amortization	0.02	0.02	-	-	-	-
Asset Writedown & Restructuring Costs	5.82	5.82	0.48	2.28	-	3.41
Loss (Gain) From Sale of Investments	-5.97	-5.97	-1.38	-2.09	-2.05	-4.9
Provision & Write-off of Bad Debts	0.11	0.11	-0.01	0.12	-	0.04
Other Operating Activities	-72.27	-30.3	-33.22	-31.65	2.45	0.15
Change in Accounts Receivable	-1.49	-1.49	0.05	-1.52	-0.53	0.37
Change in Inventory	-12.82	-12.82	3.07	9.18	19.38	-13.68
Change in Accounts Payable	42.2	42.2	76.17	27.45	51.89	9.33
Operating Cash Flow	58.55	98.61	132.64	75.09	137.82	56.72
Operating Cash Flow Growth	-50.56%	-25.66%	76.63%	-45.51%	142.97%	-34.43%
Capital Expenditures	-10.07	-9.88	-13.01	-4.31	-1.7	-3.27
Sale of Property, Plant & Equipment	0	-	0	0.03	-	0
Investment in Securities	-195	-185	-241	-225	-130	-70
Other Investing Activities	216.61	113.99	72.17	61.2	2.24	4.72
Investing Cash Flow	11.54	-80.89	-181.83	-168.08	-129.47	-68.55
Short-Term Debt Issued	-	46.88	82	20	-	-
Total Debt Issued	30.88	46.88	82	20	-	-
Short-Term Debt Repaid	-	-82	-20	-	-	-
Total Debt Repaid	-82.23	-82	-20	-	-	-
Net Debt Issued (Repaid)	-51.35	-35.13	62	20	-	-
Common Dividends Paid	-21.91	-21.91	-	-12.83	-9.5	-8.75
Other Financing Activities	0.11	-	-1.44	-	-	-
Financing Cash Flow	-73.15	-57.04	45.56	7.17	-9.5	-8.75
Net Cash Flow	-3.06	-39.32	-3.64	-85.81	-1.14	-20.58
Free Cash Flow	48.48	88.73	119.63	70.79	136.12	53.46
Free Cash Flow Growth	-54.77%	-25.83%	69.01%	-48.00%	154.64%	-29.93%
Free Cash Flow Margin	7.46%	13.86%	18.49%	11.54%	22.19%	9.18%
Free Cash Flow Per Share	0.20	0.35	0.48	0.28	0.54	0.21
Cash Interest Paid	1.81	1.92	1.44	-	-	-
Cash Income Tax Paid	119.37	116.26	117.38	127.54	88.27	102.18
Levered Free Cash Flow	55.75	74.86	110.23	73.16	132	53.41
Unlevered Free Cash Flow	56.88	76.06	111.13	73.45	132.03	53.41
Change in Working Capital	25.55	25.55	78.43	30.55	71.61	-5

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