SHA:600863 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	2,097	2,359	2,005	1,767	495.11	759.06
Depreciation & Amortization	2,330	2,330	2,660	2,832	2,701	2,617
Other Amortization	535.57	535.57	324.48	152.57	122.4	110.29
Loss (Gain) on Sale of Assets	-30.68	-30.68	-16.57	8.21	7.43	-0.34
Loss (Gain) on Sale of Investments	-367.14	-367.14	-184.88	-179.97	48.26	-330.17
Asset Writedown	293.48	293.48	572.04	413.4	0.2	356.18
Change in Accounts Receivable	-218.09	-218.09	-105.05	49.52	-1,083	-417.5
Change in Inventory	-250.97	-250.97	167.56	67.58	-218.07	-13.17
Change in Accounts Payable	155.81	155.81	-558.85	-960.92	603.15	27.82
Other Operating Activities	557.07	286.74	456.87	851.68	430.18	784.83
Operating Cash Flow	5,112	5,103	5,332	5,154	3,141	3,913
Operating Cash Flow Growth	-5.09%	-4.29%	3.45%	64.11%	-19.73%	0.79%
Capital Expenditures	-4,230	-3,749	-2,390	-1,184	-1,070	-1,159
Sale of Property, Plant & Equipment	0.05	53.39	2.97	38.64	14.74	7.97
Divestitures	-	-	-	-	0.22	-
Investment in Securities	-98.01	-222.6	-153.69	-2.42	-	-0.48
Other Investing Activities	251.11	237.56	186.11	46.59	164.75	349.71
Investing Cash Flow	-4,077	-3,681	-2,355	-1,101	-889.76	-801.86
Long-Term Debt Issued	-	5,177	6,729	4,926	10,673	8,821
Long-Term Debt Repaid	-	-5,305	-10,819	-7,432	-12,466	-11,412
Total Debt Repaid	-8,407	-5,305	-10,819	-7,432	-12,466	-11,412
Net Debt Issued (Repaid)	864.94	-128.58	-4,090	-2,506	-1,793	-2,592
Issuance of Common Stock	26.95	-	1,499	-	1,496	999
Common Dividends Paid	-1,795	-1,586	-1,610	-1,361	-1,571	-1,692
Other Financing Activities	-718.15	-689.35	1,872	-108.85	17.35	-94.28
Financing Cash Flow	-1,621	-2,404	-2,329	-3,977	-1,850	-3,379
Foreign Exchange Rate Adjustments	-	0	0	0	-0	-0
Net Cash Flow	-585.5	-981.09	648.43	76.87	400.64	-267.59
Free Cash Flow	882.35	1,354	2,942	3,971	2,071	2,754
Free Cash Flow Growth	-74.75%	-53.97%	-25.90%	91.73%	-24.80%	141.74%
Free Cash Flow Margin	4.25%	6.08%	13.06%	17.21%	10.90%	17.93%
Free Cash Flow Per Share	0.14	0.21	0.45	0.60	0.35	0.40
Cash Income Tax Paid	2,455	2,480	2,911	2,380	1,151	1,522
Levered Free Cash Flow	888.46	600.06	2,069	2,311	429.1	1,463
Unlevered Free Cash Flow	1,036	778.05	2,318	2,676	896.02	1,999
Change in Working Capital	-311.78	-311.78	-473.98	-859.72	-660.69	-413.75

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