SHA:600651 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	58.78	39.47	37.85	311.54	-452.67
Depreciation & Amortization	94.12	91.08	90.14	122.65	177.17
Other Amortization	5.14	11.93	8.57	9.52	12.53
Loss (Gain) From Sale of Assets	0.06	-0.75	-0.12	-0.22	-1.36
Asset Writedown & Restructuring Costs	8.01	0.19	0.24	0.21	36.43
Loss (Gain) From Sale of Investments	-71.33	-71.36	-72.15	-535.36	-72.86
Provision & Write-off of Bad Debts	-	-10.16	8.13	5.32	44.07
Other Operating Activities	13.41	44.4	53.33	161.53	295.74
Change in Accounts Receivable	113.02	-20.73	-32.01	80.47	111.15
Change in Inventory	70.05	37.4	-1.24	-18.96	-198.48
Change in Accounts Payable	-179.68	-34.03	-95.35	-178.65	91.65
Operating Cash Flow	114.38	89.88	-3.88	-40.73	34.38
Operating Cash Flow Growth	27.26%	-	-	-	48.20%
Capital Expenditures	-54.75	-43.54	-80.97	-135.74	-117.41
Sale of Property, Plant & Equipment	0.85	0.95	0.71	5.18	2.42
Cash Acquisitions	-	-	-	-	-0.72
Divestitures	-	-	0.78	76.77	-30.67
Investment in Securities	-17.71	-4.49	-	-	1,038
Other Investing Activities	72.42	55.65	48.04	28.27	54.74
Investing Cash Flow	0.81	8.58	-31.45	-25.53	946.37
Short-Term Debt Issued	-	-	-	2.26	9.58
Long-Term Debt Issued	361.7	266.16	942.55	1,921	609.69
Total Debt Issued	361.7	266.16	942.55	1,923	619.27
Long-Term Debt Repaid	-371.3	-279.75	-1,281	-2,267	-1,209
Total Debt Repaid	-371.3	-279.75	-1,281	-2,267	-1,209
Net Debt Issued (Repaid)	-9.6	-13.59	-338.82	-344.2	-589.39
Common Dividends Paid	-21.03	-27.37	-44.87	-74.37	-113.5
Other Financing Activities	-10.96	-7.41	-22.1	-2.76	-0.11
Financing Cash Flow	-41.59	-48.37	-405.78	-421.33	-703
Foreign Exchange Rate Adjustments	-0.66	1.75	3.43	10.07	-28.13
Net Cash Flow	72.94	51.83	-437.68	-477.51	249.62
Free Cash Flow	59.63	46.34	-84.84	-176.47	-83.02
Free Cash Flow Growth	28.69%	-	-	-	-
Free Cash Flow Margin	3.29%	2.36%	-4.30%	-5.29%	-1.82%
Free Cash Flow Per Share	0.02	0.02	-0.03	-0.07	-0.03
Cash Interest Paid	-	-	-	-	0.11
Cash Income Tax Paid	54.6	43.5	58.7	191.95	334.62
Levered Free Cash Flow	-54.49	5.59	-143.23	-5.84	-189.5
Unlevered Free Cash Flow	-54.49	23.02	-116.61	43.66	-115.8
Change in Working Capital	6.19	-14.92	-129.87	-115.91	-4.68

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