SHA:600648 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	946.07	951.43	928.52	1,241	937.11
Depreciation & Amortization	923.51	869.22	834.27	854.72	869.78
Other Amortization	14.65	25.75	21.92	28.93	41.39
Loss (Gain) From Sale of Assets	-0.8	-0.88	-1.73	-2.33	-0.3
Asset Writedown & Restructuring Costs	-0.22	-24.98	-17.45	1.57	-0.25
Loss (Gain) From Sale of Investments	-978.36	-517.49	-100.12	-487.92	-131.07
Provision & Write-off of Bad Debts	-	-1.26	4.33	0.07	5.55
Other Operating Activities	424.84	503.92	401.65	670.71	546.83
Change in Accounts Receivable	7.02	-1,183	-1,145	93.44	-503.26
Change in Inventory	-828.59	-736.3	-1,252	-2,613	-736.87
Change in Accounts Payable	-746.15	-2,470	453.3	-1,451	2,632
Change in Other Net Operating Assets	-	-	11.29	-22.82	-
Operating Cash Flow	-76.41	-2,782	461.63	-1,710	3,533
Operating Cash Flow Growth	-	-	-	-	-15.55%
Capital Expenditures	-1,038	-677.73	-919.67	-417.82	-98.26
Sale of Property, Plant & Equipment	11.17	8.32	2.32	1.35	0.74
Cash Acquisitions	-	-124.83	-	-	-
Divestitures	1,723	428.94	-	626.6	-
Investment in Securities	-618.61	-65.22	-564.09	1,829	-1,605
Other Investing Activities	77.68	641.08	58.3	130.48	87.54
Investing Cash Flow	154.56	216.48	-1,385	2,158	-1,591
Long-Term Debt Issued	16,050	14,553	14,863	11,782	9,853
Long-Term Debt Repaid	-16,655	-11,956	-13,019	-11,256	-9,546
Net Debt Issued (Repaid)	-604.51	2,597	1,845	525.42	307.06
Issuance of Common Stock	2,448	-	-	-	-
Common Dividends Paid	-1,024	-1,060	-946.92	-1,545	-830.94
Other Financing Activities	3.47	88.76	-12.01	-11.62	-47.89
Financing Cash Flow	822.63	1,626	885.87	-1,031	-571.77
Foreign Exchange Rate Adjustments	-2.42	1.22	2.41	9.12	0.21
Net Cash Flow	898.35	-938.8	-34.81	-573.55	1,371
Free Cash Flow	-1,115	-3,460	-458.04	-2,128	3,435
Free Cash Flow Growth	-	-	-	-	-13.82%
Free Cash Flow Margin	-18.67%	-47.79%	-5.95%	-23.12%	38.67%
Free Cash Flow Per Share	-0.87	-3.06	-0.41	-1.87	3.04
Cash Interest Paid	26.31	50.62	44.82	27.78	23.32
Cash Income Tax Paid	630.47	2,494	2,156	1,064	1,061
Levered Free Cash Flow	126.78	1,056	-902.58	-1,862	5,544
Unlevered Free Cash Flow	143.47	1,393	-603.85	-1,522	5,874
Change in Working Capital	-1,406	-4,607	-1,614	-4,015	1,263

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