SHA:600754 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	925.46	911.03	1,002	126.62	95.63
Depreciation & Amortization	1,815	1,842	1,826	1,922	1,975
Other Amortization	380.17	382.14	396.02	431.72	469.31
Loss (Gain) From Sale of Assets	18.66	-92.52	-63.48	-115.12	-20.71
Asset Writedown & Restructuring Costs	16.71	11.7	21.61	4.06	4.32
Loss (Gain) From Sale of Investments	-262.68	-707.41	-375.39	-415.29	-209.65
Provision & Write-off of Bad Debts	5.46	127.26	52.22	57.81	9.44
Other Operating Activities	722.35	947.31	1,056	682.81	854.62
Change in Accounts Receivable	-133.56	153.69	-307.91	-230.02	-731.65
Change in Inventory	4.54	17.61	1.53	8.96	-4.12
Change in Accounts Payable	-19.87	211.37	1,701	-488.93	-199.47
Operating Cash Flow	3,301	3,562	5,162	1,859	2,123
Operating Cash Flow Growth	-7.31%	-31.00%	177.59%	-12.41%	1300.05%
Capital Expenditures	-1,845	-981.56	-800.02	-661.41	-614.54
Sale of Property, Plant & Equipment	532.55	495.97	76.43	179.58	40.58
Cash Acquisitions	-	-	-	-18.64	-
Divestitures	233.28	1,710	0.75	13.22	7.83
Investment in Securities	-1,250	1,207	1,389	525.72	-12.74
Other Investing Activities	231.24	377.33	477.76	246.33	-3,427
Investing Cash Flow	-2,057	2,849	1,111	192.82	-4,023
Long-Term Debt Issued	8,830	8,638	8,712	5,659	2,192
Total Debt Issued	8,830	8,638	8,712	5,659	2,192
Long-Term Debt Repaid	-11,000	-11,835	-10,165	-8,350	-5,317
Total Debt Repaid	-11,000	-11,835	-10,165	-8,350	-5,317
Net Debt Issued (Repaid)	-2,170	-3,197	-1,453	-2,691	-3,124
Issuance of Common Stock	-	-	-	-	4,978
Common Dividends Paid	-767.53	-1,201	-516.73	-302.66	-348.21
Other Financing Activities	-304.08	-1,849	-1,599	-564.34	-583.33
Financing Cash Flow	-3,242	-6,247	-3,569	-3,558	922.36
Foreign Exchange Rate Adjustments	63.21	-32.75	31.97	13.24	-40.02
Net Cash Flow	-1,934	131.25	2,735	-1,493	-1,017
Free Cash Flow	1,456	2,580	4,362	1,198	1,508
Free Cash Flow Growth	-43.56%	-40.85%	264.06%	-20.58%	-
Free Cash Flow Margin	10.54%	18.35%	29.77%	10.59%	13.23%
Free Cash Flow Per Share	1.37	2.41	4.08	1.12	1.45
Cash Income Tax Paid	1,436	1,170	1,190	759.6	1,083
Levered Free Cash Flow	1,252	1,931	3,672	1,905	200.93
Unlevered Free Cash Flow	1,672	2,471	4,201	2,304	638.48
Change in Working Capital	-319.42	139.92	1,248	-835.32	-1,055

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