SHA:600845 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	1,305	2,265	2,554	2,186	1,819
Depreciation & Amortization	475.02	468.5	438.61	409.92	379.75
Other Amortization	153.06	148.05	147.66	141.85	126.83
Loss (Gain) From Sale of Assets	-2.46	-0.21	-	-2.43	-
Asset Writedown & Restructuring Costs	0.75	0.64	-1.77	-4.9	61.68
Loss (Gain) From Sale of Investments	-9.96	-20.88	-106.07	-13.33	-17.64
Provision & Write-off of Bad Debts	124.6	250.52	156.33	183.04	83.79
Other Operating Activities	91.82	105.28	78.67	98.04	109.8
Change in Accounts Receivable	1,179	-1,634	-265.82	-1,151	-1,770
Change in Inventory	-1,351	820.94	-351.37	-95.18	242.63
Change in Accounts Payable	215.68	-665.53	12.47	784.39	916.58
Operating Cash Flow	2,147	1,671	2,608	2,522	1,928
Operating Cash Flow Growth	28.48%	-35.94%	3.45%	30.78%	25.68%
Capital Expenditures	-1,252	-436.72	-376.24	-300.89	-761.8
Sale of Property, Plant & Equipment	2.26	3.8	0.15	12.72	10.22
Cash Acquisitions	-70.78	59.28	-	-33.42	-82.87
Divestitures	-	-5.33	-	-	-
Investment in Securities	24	29.39	32.64	19.57	0.13
Other Investing Activities	8.73	13.4	22.95	11.33	8.33
Investing Cash Flow	-1,288	-336.18	-320.5	-290.69	-825.99
Short-Term Debt Issued	-	-	-	235	20
Long-Term Debt Issued	486.35	56.56	91	-	-
Total Debt Issued	486.35	56.56	91	235	20
Short-Term Debt Repaid	-	-	-	-229.5	-24.08
Long-Term Debt Repaid	-212.79	-268.18	-245.74	-91.63	-85.75
Total Debt Repaid	-212.79	-268.18	-245.74	-321.13	-109.83
Net Debt Issued (Repaid)	273.56	-211.62	-154.74	-86.13	-89.83
Issuance of Common Stock	-	11.83	549.38	-	7.43
Repurchase of Common Stock	-184.92	-15	-3.22	-0.05	-41.68
Common Dividends Paid	-1,736	-2,406	-1,606	-1,528	-1,059
Other Financing Activities	-38.83	-92.66	-2.05	33.79	-3.24
Financing Cash Flow	-1,686	-2,713	-1,217	-1,581	-1,187
Foreign Exchange Rate Adjustments	2.5	-19.06	-16	-4.3	-7.86
Net Cash Flow	-824.74	-1,397	1,055	645.93	-92.41
Free Cash Flow	894.43	1,234	2,232	2,221	1,166
Free Cash Flow Growth	-27.53%	-44.71%	0.52%	90.40%	28.73%
Free Cash Flow Margin	8.15%	9.05%	17.28%	16.89%	9.92%
Free Cash Flow Per Share	0.31	0.43	0.78	0.78	0.41
Cash Income Tax Paid	580.16	690.63	727.22	535.25	589.55
Levered Free Cash Flow	575.69	278.15	1,652	988.14	-94.47
Unlevered Free Cash Flow	595.83	298.98	1,669	999.21	-86.97
Change in Working Capital	9.09	-1,546	-658.61	-476.49	-634.94

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