SHA:600577 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	622.53	561.71	426.45	381.31	549.14
Depreciation & Amortization	183.54	166.2	152.08	136.08	127.34
Other Amortization	3.64	2.68	2.04	1.84	0.54
Loss (Gain) From Sale of Assets	0	0.55	0.1	0.38	-0.3
Asset Writedown & Restructuring Costs	13.75	5.5	1.58	3.11	1.66
Loss (Gain) From Sale of Investments	-43.88	-34.19	0.97	-13.68	-23.56
Provision & Write-off of Bad Debts	-	50.86	21.88	-12.5	28.81
Other Operating Activities	168.67	172.95	122.21	183.64	246.59
Change in Accounts Receivable	-910.67	-1,532	-247.1	231.21	-910.14
Change in Inventory	51.8	-183.99	-121.53	162.38	-428.1
Change in Accounts Payable	2,379	185.95	75.87	256.31	-69.36
Change in Other Net Operating Assets	3.82	14.64	24.16	-0.17	-
Operating Cash Flow	2,475	-589.15	438.96	1,316	-498.19
Operating Cash Flow Growth	-	-	-66.64%	-	-
Capital Expenditures	-165.49	-157.66	-329.88	-456.74	-409.73
Sale of Property, Plant & Equipment	0.69	6.5	2.08	2.44	7.75
Divestitures	-	-	-	-	34.96
Investment in Securities	-4.26	-316.16	100.34	-406.46	451.24
Other Investing Activities	35.65	37.74	31.31	30.78	32.62
Investing Cash Flow	-133.41	-429.58	-196.14	-829.98	116.85
Long-Term Debt Issued	2,934	4,046	3,317	2,297	2,584
Total Debt Issued	2,934	4,046	3,317	2,297	2,584
Long-Term Debt Repaid	-4,005	-3,302	-2,992	-2,320	-1,505
Total Debt Repaid	-4,005	-3,302	-2,992	-2,320	-1,505
Net Debt Issued (Repaid)	-1,071	744.06	325.74	-23.25	1,080
Issuance of Common Stock	-	-	-	291.82	-
Repurchase of Common Stock	-	-	-11.65	-98.42	-
Common Dividends Paid	-292.51	-493.9	-370.12	-192.94	-190.93
Other Financing Activities	-575.53	433.88	-413.18	-521.8	-93.95
Financing Cash Flow	-1,939	684.05	-469.21	-544.59	794.88
Foreign Exchange Rate Adjustments	-11.15	11.26	22.84	44.23	-29.38
Net Cash Flow	391.83	-323.42	-203.54	-14.62	384.16
Free Cash Flow	2,310	-746.82	109.08	858.98	-907.92
Free Cash Flow Growth	-	-	-87.30%	-	-
Free Cash Flow Margin	9.36%	-3.35%	0.61%	4.90%	-4.95%
Free Cash Flow Per Share	1.04	-0.35	0.05	0.38	-0.45
Cash Income Tax Paid	289.62	226.4	250.64	244.14	187.87
Levered Free Cash Flow	2,259	-1,707	188.89	-66.26	-1,148
Unlevered Free Cash Flow	2,259	-1,608	279.82	28.59	-1,052
Change in Working Capital	1,527	-1,515	-288.35	635.55	-1,428

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