SHA:600773 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	-571.37	-552.72	12.55	61.99	117.25	118.46
Depreciation & Amortization	90.44	90.44	90.71	88.86	75.88	49.81
Other Amortization	9.97	9.97	9.55	8.36	10.85	20.79
Loss (Gain) From Sale of Assets	-	-	-0.17	-0.03	-0.13	0
Asset Writedown & Restructuring Costs	-0.08	-0.08	36.13	-	0	0
Loss (Gain) From Sale of Investments	-10.05	-10.05	-340.7	42.96	-21.65	15.85
Provision & Write-off of Bad Debts	0.43	0.43	-5.32	2.97	1.36	1.06
Other Operating Activities	533.77	416.38	117.53	94.32	143.22	143.01
Change in Accounts Receivable	-175.22	-175.22	-151.67	-305.63	-155.7	738.67
Change in Inventory	455.49	455.49	386.2	758.08	1,661	-435.02
Change in Accounts Payable	-657.88	-657.88	-635.8	-1,311	-792.55	-855.63
Operating Cash Flow	-312.38	-411.11	-356.41	-565.8	1,024	-265.27
Capital Expenditures	-54.65	-54.65	-171.53	-20.56	-94.22	-32.13
Sale of Property, Plant & Equipment	0	0	0.19	0.05	0.16	5
Divestitures	-	-	709.76	-	-	-
Investment in Securities	130	50	-290	46.18	-	-
Other Investing Activities	10.8	10.8	11.54	6.67	12.67	3.2
Investing Cash Flow	86.15	6.16	259.96	32.34	-81.39	-23.93
Long-Term Debt Issued	-	1,489	2,103	3,051	1,724	1,891
Long-Term Debt Repaid	-	-1,595	-1,845	-4,149	-2,609	-1,647
Net Debt Issued (Repaid)	-176.23	-105.52	258.5	-1,099	-885.28	243.55
Issuance of Common Stock	-	-	986.48	-	-	-
Common Dividends Paid	-204.72	-214.79	-293.41	-286.98	-347.22	-321.05
Other Financing Activities	150	50	-450.32	1,900	-	-79.96
Financing Cash Flow	-230.94	-270.31	501.25	514.46	-1,232	-157.46
Net Cash Flow	-457.17	-675.26	404.79	-18.99	-290.29	-446.67
Free Cash Flow	-367.02	-465.75	-527.95	-586.36	929.37	-297.41
Free Cash Flow Margin	-81.77%	-50.70%	-44.63%	-24.48%	37.83%	-11.83%
Free Cash Flow Per Share	-0.39	-0.49	-0.42	-0.76	1.11	-0.35
Cash Income Tax Paid	121.25	121.25	254.06	252.23	463.01	404.12
Levered Free Cash Flow	358.5	-376.08	69.25	1,422	1,905	-424.54
Unlevered Free Cash Flow	474.58	-268.07	146.47	1,514	2,018	-353.71
Change in Working Capital	-365.48	-365.48	-276.7	-865.23	696.82	-614.26

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