SHA:600780 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	614.93	512.67	679.78	854.73	186.1	299.91
Depreciation & Amortization	743.55	743.55	732.63	694.93	706.23	697.63
Other Amortization	3.67	3.67	0.02	0.02	0.02	0.02
Loss (Gain) on Sale of Assets	-5.64	-5.64	0.24	2.11	0.55	-0.2
Loss (Gain) on Sale of Investments	-217.08	-217.08	-292.12	-339.1	-263.12	-44.57
Asset Writedown	0.25	0.25	3.29	0.37	0.86	1.2
Change in Accounts Receivable	-22.81	-22.81	287.15	-879.9	132.02	-20.69
Change in Inventory	-60.52	-60.52	9.31	-25.46	10.75	-7.68
Change in Accounts Payable	174.06	174.06	-558.19	942.52	105.27	54.72
Other Operating Activities	84.78	26.5	28.32	36.21	36.1	45.13
Operating Cash Flow	1,326	1,166	904.01	1,325	910.33	1,030
Operating Cash Flow Growth	28.70%	28.94%	-31.76%	45.52%	-11.66%	-3.62%
Capital Expenditures	-736.51	-480.33	-377.92	-590.15	-563.44	-643.26
Sale of Property, Plant & Equipment	6.59	5.75	0.02	-	0	3.23
Investment in Securities	-	-120	-	-	-	-
Other Investing Activities	149.98	46.47	0.26	0.25	11.56	7.14
Investing Cash Flow	-579.94	-548.1	-377.64	-589.9	-551.88	-632.89
Long-Term Debt Issued	-	104	267	352	512	270
Long-Term Debt Repaid	-	-261.47	-589.27	-693.23	-515.88	-646.7
Net Debt Issued (Repaid)	35.01	-157.47	-322.27	-341.23	-3.88	-376.7
Issuance of Common Stock	10	10	16	-	10	58
Common Dividends Paid	-10.03	-215.68	-17.06	-32.51	-146.07	-146.97
Other Financing Activities	1.5	-	-	-0.37	-	-
Financing Cash Flow	36.47	-363.14	-323.33	-374.11	-139.95	-465.67
Net Cash Flow	782.7	254.39	203.04	360.71	218.5	-68.06
Free Cash Flow	589.67	685.31	526.09	734.57	346.89	387.24
Free Cash Flow Growth	-9.05%	30.26%	-28.38%	111.76%	-10.42%	14.97%
Free Cash Flow Margin	5.29%	6.33%	4.83%	6.61%	4.43%	5.58%
Free Cash Flow Per Share	0.51	0.60	0.46	0.64	0.30	0.34
Cash Income Tax Paid	563.21	497.67	521.14	672.89	390.33	375.76
Levered Free Cash Flow	652.89	459.74	556.75	348.35	322.09	397.11
Unlevered Free Cash Flow	661.64	471.46	571.73	368.34	349.75	430.64
Change in Working Capital	93.59	93.59	-246.56	40.9	244.93	30.94

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