SHA:600868 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	Jan '21 Jan 1, 2021
Net Income	-125.29	-82.82	-100.28	59.03	8.99	34.27
Depreciation & Amortization	122.93	122.93	90.46	84.06	43.31	64.08
Other Amortization	2.53	2.53	1.51	2.75	1.29	2.23
Loss (Gain) on Sale of Assets	-	-	-	-	-0.51	0.55
Loss (Gain) on Sale of Investments	2.79	2.79	1.62	-5.67	-0.21	-4.08
Asset Writedown	54.57	54.57	119.26	1.4	0.03	0.04
Change in Accounts Receivable	52.47	52.47	56.61	-124.8	-68.54	0.28
Change in Inventory	14.52	14.52	1.61	51.4	-119.71	-
Change in Accounts Payable	-83.41	-83.41	-96.71	-35.21	67.04	-3.56
Change in Other Net Operating Assets	-	-	1.34	0.74	-	-
Other Operating Activities	-19.78	-40.48	-3.68	24.22	24.62	2.35
Operating Cash Flow	79.05	100.82	96.6	79.4	-12.9	97.6
Operating Cash Flow Growth	-32.40%	4.37%	21.65%	-	-	-45.03%
Capital Expenditures	-37.9	-35.28	-25.9	-12.88	-9.96	-10.04
Sale of Property, Plant & Equipment	10.34	0	0.95	-	-	0.01
Cash Acquisitions	-48.99	-9.76	-	-	-216.63	-
Investment in Securities	-67.08	-11.35	-30.96	-	24.5	-20
Other Investing Activities	3.41	1.95	2.11	1.94	-1.46	5.27
Investing Cash Flow	-140.22	-54.43	-53.8	-10.94	-203.55	-24.76
Long-Term Debt Issued	-	297.73	17.33	10.32	137.7	-
Long-Term Debt Repaid	-	-62.72	-31.39	-22.05	-8.83	-
Net Debt Issued (Repaid)	138.66	235.01	-14.06	-11.74	128.87	-
Repurchase of Common Stock	-40.35	-40.35	-	-	-	-
Common Dividends Paid	-19.37	-8.11	-20	-9.66	-18.18	-18.98
Other Financing Activities	-164.53	-2	1.52	-	-	0.5
Financing Cash Flow	-85.58	184.56	-32.54	-21.4	110.69	-18.48
Net Cash Flow	-146.75	230.95	10.26	47.07	-105.76	54.36
Free Cash Flow	41.15	65.54	70.7	66.53	-22.85	87.56
Free Cash Flow Growth	-46.53%	-7.30%	6.27%	-	-	-39.50%
Free Cash Flow Margin	13.27%	18.34%	22.54%	13.72%	-6.56%	48.10%
Free Cash Flow Per Share	0.02	0.04	0.04	0.04	-0.01	0.05
Cash Income Tax Paid	37.67	53.97	47.26	46.37	16.09	31.83
Levered Free Cash Flow	92.36	147.79	64.13	43.8	-172.32	72.54
Unlevered Free Cash Flow	99.19	154.62	68.8	48.21	-168.87	72.54
Change in Working Capital	-16.12	-16.12	-43.35	-112.69	-102.73	-3.28

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.