SHA:600789 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	86.56	111.91	394.62	246.17	138.01	89.1
Depreciation & Amortization	449.07	449.07	399.01	381.13	348.12	307.46
Other Amortization	0.47	0.47	3	1.44	1.88	2.25
Loss (Gain) From Sale of Assets	-0.17	-0.17	-153.42	-0.28	-2.83	-0.16
Asset Writedown & Restructuring Costs	45.98	45.98	133.82	109.36	1	0.68
Loss (Gain) From Sale of Investments	5.22	5.22	7.56	7.2	6.53	3.18
Provision & Write-off of Bad Debts	-	-	2.52	0.98	8.42	24.39
Other Operating Activities	232.32	69.72	25.89	32.83	163.54	113.83
Change in Accounts Receivable	169.33	169.33	-265.44	-124.56	-516.07	-83.45
Change in Inventory	191.09	191.09	-145.06	7.62	-314.68	-356.13
Change in Accounts Payable	-331.3	-331.3	-7.36	-53.29	614.77	78.61
Change in Other Net Operating Assets	3.35	3.35	0.69	0.45	-	-
Operating Cash Flow	835.43	698.17	402.82	604.01	444.38	177.49
Operating Cash Flow Growth	213.08%	73.32%	-33.31%	35.92%	150.36%	-24.33%
Capital Expenditures	-331.68	-338.86	-279.18	-337.91	-428.36	-488.57
Sale of Property, Plant & Equipment	122.96	104.2	20.31	0.03	0.15	1.34
Divestitures	-	-	-	2.13	-	-
Investment in Securities	1.19	1.19	-	-	-15.82	-42.18
Other Investing Activities	22.57	-	-	-34.03	0.03	-4.99
Investing Cash Flow	-184.96	-233.47	-258.87	-369.78	-444.01	-534.4
Long-Term Debt Issued	-	1,875	1,676	2,179	2,145	2,577
Total Debt Issued	1,624	1,875	1,676	2,179	2,145	2,577
Long-Term Debt Repaid	-	-1,639	-1,814	-2,198	-1,973	-2,144
Total Debt Repaid	-1,749	-1,639	-1,814	-2,198	-1,973	-2,144
Net Debt Issued (Repaid)	-125.24	235.98	-137.41	-18.57	171.81	432.68
Issuance of Common Stock	1,187	1,187	17.36	61.88	41.76	1.98
Common Dividends Paid	-162.89	-166.3	-233.49	-143.73	-139.59	-166.39
Other Financing Activities	-101.68	-101	164.44	6.5	-79.29	-6.95
Financing Cash Flow	797.02	1,156	-189.1	-93.92	-5.31	261.32
Foreign Exchange Rate Adjustments	-4.06	2.24	10.81	2.7	6.46	0.83
Net Cash Flow	1,443	1,622	-34.34	143.01	1.52	-94.76
Free Cash Flow	503.75	359.31	123.64	266.09	16.02	-311.07
Free Cash Flow Growth	1900.13%	190.62%	-53.54%	1561.36%	-	-
Free Cash Flow Margin	8.82%	6.23%	1.98%	4.33%	0.29%	-6.32%
Free Cash Flow Per Share	0.51	0.38	0.14	0.30	0.02	-0.35
Cash Income Tax Paid	152.67	154.41	130.55	231.16	65.86	104.04
Levered Free Cash Flow	831.52	543.7	-253.58	-59	-39.51	-436.35
Unlevered Free Cash Flow	831.52	543.7	-206.47	-9.51	21.77	-395.64
Change in Working Capital	15.97	15.97	-410.17	-174.83	-220.3	-363.25

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.