SHA:600635 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	582.58	233.15	212.54	-332.59	303.36	515.23
Depreciation & Amortization	375.73	375.73	356.15	351.07	342.32	357.69
Other Amortization	5.52	5.52	0.79	0.22	1.09	2.18
Loss (Gain) on Sale of Assets	-11.99	-11.99	-16.65	-24.72	-1.18	-0.49
Loss (Gain) on Sale of Investments	-319.93	-319.93	-312.09	382.98	-580.56	-963.54
Asset Writedown	4.77	4.77	0.23	4.49	1.84	0.11
Change in Accounts Receivable	-139.59	-139.59	592.77	155.08	71.88	-118.55
Change in Inventory	24.22	24.22	34.26	51.68	-38.31	-36.2
Change in Accounts Payable	-82.92	-82.92	-560.25	-395.71	79.32	-133.7
Other Operating Activities	446.87	339.39	371	332.43	459.39	488.56
Operating Cash Flow	862.43	405.52	689.83	417.43	674.26	229.07
Operating Cash Flow Growth	51.12%	-41.21%	65.26%	-38.09%	194.35%	-81.20%
Capital Expenditures	-597.08	-485.86	-353.39	-285.3	-646.27	-648.38
Sale of Property, Plant & Equipment	17.12	1.47	34.53	10.47	1.7	1.25
Divestitures	-	-	-	-	-	10.75
Investment in Securities	496.1	380.64	18.73	-378.48	-152.18	-974.54
Other Investing Activities	156.91	216.84	697.35	964.33	302.82	386.65
Investing Cash Flow	73.05	113.09	397.22	311.03	-493.93	-1,224
Long-Term Debt Issued	-	5,421	6,986	6,982	8,052	6,655
Long-Term Debt Repaid	-	-5,451	-7,446	-13,186	-7,806	-5,890
Net Debt Issued (Repaid)	-216.65	-30.2	-460.51	-6,204	245.72	765.1
Common Dividends Paid	-319.1	-352.64	-385.71	-455.5	-474.76	-510.21
Other Financing Activities	51.4	55.41	-20.3	6,796	-32.38	-39.75
Financing Cash Flow	-484.36	-327.44	-866.52	136.41	-261.42	215.14
Foreign Exchange Rate Adjustments	13.01	14.61	15.09	71	-19.94	-72.17
Net Cash Flow	464.13	205.78	235.62	935.86	-101.03	-852.23
Free Cash Flow	265.35	-80.34	336.44	132.13	27.99	-419.31
Free Cash Flow Growth	212.28%	-	154.63%	372.05%	-	-
Free Cash Flow Margin	4.28%	-1.27%	5.25%	2.26%	0.51%	-8.54%
Free Cash Flow Per Share	0.09	-0.03	0.11	0.04	0.01	-0.14
Cash Income Tax Paid	250.03	237.35	212.47	250.07	187.99	202.22
Levered Free Cash Flow	1,007	-296.89	187.99	539.9	-529.76	-868.72
Unlevered Free Cash Flow	1,145	-135.63	372.17	743.96	-317.58	-660.98
Change in Working Capital	-225.05	-225.05	57.52	-301.72	118.04	-196.62

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.