SHA:600644 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	26.3	22.57	24.3	70.58	117.61
Depreciation & Amortization	193.12	179.28	174.66	164.96	156.66
Other Amortization	4.14	3.45	3.3	2.93	3.17
Loss (Gain) on Sale of Assets	-11.01	-1.71	-1.1	-63	0.04
Loss (Gain) on Sale of Investments	-23.61	-34.48	-27.42	-22.6	-25.84
Asset Writedown	1.09	-1.51	3.63	0.55	3.77
Change in Accounts Receivable	-49.18	-154.11	42.84	-80.95	126.75
Change in Inventory	-3.63	0.9	0.79	7.79	10.32
Change in Accounts Payable	137.48	97.05	-46.07	-21.33	26.61
Change in Other Net Operating Assets	9.58	9.45	6.16	9.03	10.44
Other Operating Activities	25.51	28.58	26.56	47.42	38.54
Operating Cash Flow	311.24	171.34	219.23	136.2	476.57
Operating Cash Flow Growth	81.65%	-21.84%	60.96%	-71.42%	16.69%
Capital Expenditures	-321.31	-210.72	-162.25	-194.84	-315.6
Sale of Property, Plant & Equipment	12.24	27.8	53.22	0.36	0.52
Investment in Securities	-	-	-	-	0.55
Other Investing Activities	10.97	20.22	13.67	-	4.55
Investing Cash Flow	-298.1	-162.7	-95.36	-194.47	-309.98
Long-Term Debt Issued	758.31	401	828.2	791.74	623.77
Long-Term Debt Repaid	-768.34	-410.7	-760.03	-789.68	-726.33
Net Debt Issued (Repaid)	-10.03	-9.7	68.17	2.06	-102.56
Issuance of Common Stock	198.37	-	-	-	-
Common Dividends Paid	-25.55	-29.78	-26.78	-29.74	-39.19
Other Financing Activities	-8.69	-1.69	-5.79	-6.13	-58.34
Financing Cash Flow	154.1	-41.16	35.6	-33.81	-200.09
Net Cash Flow	167.25	-32.53	159.47	-92.08	-33.5
Free Cash Flow	-10.06	-39.38	56.98	-58.63	160.97
Free Cash Flow Growth	-	-	-	-	189.17%
Free Cash Flow Margin	-0.30%	-1.23%	1.91%	-2.04%	6.26%
Free Cash Flow Per Share	-0.02	-0.07	0.11	-0.11	0.30
Cash Income Tax Paid	187.92	173.43	322.92	308.34	237.64
Levered Free Cash Flow	4.12	-13.58	90.16	-160.68	14.17
Unlevered Free Cash Flow	4.12	4.54	109.58	-139.17	39.66
Change in Working Capital	95.7	-40.33	12.16	-78.39	179.55

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