SHA:600639 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	1,043	1,074	1,002	1,819	1,584	1,623
Depreciation & Amortization	579.61	579.61	550.89	511.16	520.82	512.09
Other Amortization	26.82	26.82	14.12	11.05	4.42	5.41
Gain (Loss) on Sale of Assets	-0.04	-0.04	-0.03	-0.02	-0.03	0.04
Gain (Loss) on Sale of Investments	-73.66	-73.66	-908.18	-59.98	-121.05	-120.49
Asset Writedown	0.07	0.07	0.07	1.02	0.03	0.07
Change in Accounts Receivable	-257.02	-257.02	503.38	-283.22	750.45	738.11
Change in Other Net Operating Assets	-4,163	-4,163	-599.21	-1,772	-835.97	-2,907
Other Operating Activities	-429.06	281.09	477.64	415.85	306.64	283.6
Operating Cash Flow	-2,628	-1,887	-1,199	-6,703	-2,532	1,082
Operating Cash Flow Growth	-	-	-	-	-	-66.90%
Acquisition of Real Estate Assets	-14.77	-14.04	-56.53	-27.1	-7.75	-12.41
Sale of Real Estate Assets	0.04	0.04	0.63	0.03	0.04	0.04
Net Sale / Acq. of Real Estate Assets	-14.73	-14	-55.91	-27.07	-7.7	-12.37
Investment in Marketable & Equity Securities	1,255	1,760	-1,839	999.45	2,286	-608.15
Other Investing Activities	38.62	44.78	37.23	305.07	68.71	107.35
Investing Cash Flow	1,279	1,791	-754.21	1,277	2,347	-513.18
Long-Term Debt Issued	-	9,296	9,443	11,493	7,773	4,708
Total Debt Issued	10,198	9,296	9,443	11,493	7,773	4,708
Long-Term Debt Repaid	-	-9,321	-4,737	-6,534	-6,359	-4,514
Total Debt Repaid	-9,328	-9,321	-4,737	-6,534	-6,359	-4,514
Net Debt Issued (Repaid)	870.19	-25.09	4,706	4,960	1,414	193.92
Common Dividends Paid	-872.69	-882.99	-1,185	-940.82	-910.06	-675.53
Other Financing Activities	-312.18	-312.21	-27.08	1,081	145.28	-1.65
Foreign Exchange Rate Adjustments	-0.06	-0.04	0.14	0.1	0.24	-0.04
Net Cash Flow	-1,663	-1,316	1,541	-325.56	465.15	85.24
Cash Income Tax Paid	1,687	1,756	919.59	725.97	2,303	549.75
Levered Free Cash Flow	-1,310	-109.81	-292.03	-7,301	-7,343	4,759
Unlevered Free Cash Flow	-1,114	93.51	14.81	-7,032	-7,135	4,963
Change in Working Capital	-3,624	-3,624	-2,330	-9,423	-4,832	-1,294

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