SHA:600795 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	7,161	9,831	5,609	2,821	-1,733
Depreciation & Amortization	21,625	19,235	18,467	18,021	17,572
Other Amortization	296.26	289.28	263.01	277.24	57.42
Loss (Gain) on Sale of Assets	-144.04	-51.29	-68.01	-328.82	-211.74
Loss (Gain) on Sale of Investments	-2,361	-7,333	-1,585	-1,441	-3,256
Asset Writedown	468.37	1,438	1,470	3,677	1,803
Change in Accounts Receivable	1,238	-4,624	-463.57	9,650	-3,506
Change in Inventory	207.87	-1,111	1,111	1,599	-3,061
Change in Accounts Payable	12,560	24,035	4,150	-8,476	6,607
Other Operating Activities	12,398	13,260	12,929	11,797	9,417
Operating Cash Flow	53,668	55,640	42,584	37,738	24,122
Operating Cash Flow Growth	-3.54%	30.66%	12.84%	56.45%	-42.90%
Capital Expenditures	-45,814	-58,096	-49,769	-35,702	-21,335
Sale of Property, Plant & Equipment	399.03	211.18	160.64	520.69	394.42
Cash Acquisitions	-320.63	-406.38	-521.29	-571.96	-4,283
Divestitures	-	6,368	1.62	184.45	2,436
Investment in Securities	-437.38	827.91	2,851	-2,400	-111.24
Other Investing Activities	862.27	2,349	417.73	581.46	2,429
Investing Cash Flow	-45,311	-48,745	-46,860	-37,387	-20,470
Long-Term Debt Issued	156,141	227,428	198,507	210,406	186,745
Total Debt Issued	156,141	227,428	198,507	210,406	186,745
Long-Term Debt Repaid	-139,653	-226,503	-178,075	-182,997	-178,659
Total Debt Repaid	-139,653	-226,503	-178,075	-182,997	-178,659
Net Debt Issued (Repaid)	16,488	925.77	20,433	27,408	8,086
Issuance of Common Stock	2,347	-	-	-	551.26
Repurchase of Common Stock	-	-	-	-	-1,259
Common Dividends Paid	-16,435	-10,517	-10,613	-8,697	-11,446
Other Financing Activities	-10,570	-650.72	-4,891	-14,558	1,169
Financing Cash Flow	-8,171	-10,242	4,929	4,153	-2,899
Foreign Exchange Rate Adjustments	-3.41	-0.28	0.61	10.33	-0.64
Net Cash Flow	183.52	-3,348	653.72	4,515	751.37
Free Cash Flow	7,854	-2,456	-7,185	2,036	2,787
Free Cash Flow Growth	-	-	-	-26.93%	-89.78%
Free Cash Flow Margin	4.61%	-1.37%	-3.97%	1.05%	1.65%
Free Cash Flow Per Share	0.44	-0.14	-0.40	0.11	0.17
Cash Income Tax Paid	-	11,406	11,898	9,414	10,283
Levered Free Cash Flow	41,328	-26,169	-22,055	-10,193	6,371
Unlevered Free Cash Flow	41,328	-22,093	-17,811	-5,422	11,385
Change in Working Capital	14,106	18,112	4,684	2,930	33.07

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