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 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	-95.27	-97.09	-82.82	-100.28	59.03	8.99
Depreciation & Amortization	103.63	103.63	122.93	90.46	84.06	43.31
Other Amortization	3.27	3.27	2.53	1.51	2.75	1.29
Loss (Gain) on Sale of Assets	-	-	-	-	-	-0.51
Loss (Gain) on Sale of Investments	5.06	5.06	2.79	1.62	-5.67	-0.21
Asset Writedown	60.66	60.66	54.57	119.26	1.4	0.03
Change in Accounts Receivable	-32.5	-32.5	52.47	56.61	-124.8	-68.54
Change in Inventory	8.53	8.53	14.52	1.61	51.4	-119.71
Change in Accounts Payable	24.59	24.59	-83.41	-96.71	-35.21	67.04
Change in Other Net Operating Assets	-	-	-	1.34	0.74	-
Other Operating Activities	-59.07	-63.91	-40.48	-3.68	24.22	24.62
Operating Cash Flow	85.38	78.72	100.82	96.6	79.4	-12.9
Operating Cash Flow Growth	-3.82%	-21.92%	4.37%	21.65%	-	-
Capital Expenditures	-27.52	-35.33	-35.28	-25.9	-12.88	-9.96
Sale of Property, Plant & Equipment	36.38	12.96	0	0.95	-	-
Cash Acquisitions	-84.62	-84.62	-9.76	-	-	-216.63
Investment in Securities	153.97	1.8	-11.35	-30.96	-	24.5
Other Investing Activities	3.75	4.49	1.95	2.11	1.94	-1.46
Investing Cash Flow	81.96	-100.7	-54.43	-53.8	-10.94	-203.55
Long-Term Debt Issued	-	222.46	297.73	17.33	10.32	137.7
Long-Term Debt Repaid	-	-77.48	-62.72	-31.39	-22.05	-8.83
Net Debt Issued (Repaid)	-61.04	144.98	235.01	-14.06	-11.74	128.87
Repurchase of Common Stock	-200	-200	-40.35	-	-	-
Common Dividends Paid	-16.75	-17.59	-8.11	-20	-9.66	-18.18
Other Financing Activities	260.4	-	-2	1.52	-	-
Financing Cash Flow	-17.4	-72.61	184.56	-32.54	-21.4	110.69
Net Cash Flow	149.94	-94.6	230.95	10.26	47.07	-105.76
Free Cash Flow	57.86	43.39	65.54	70.7	66.53	-22.85
Free Cash Flow Growth	16.61%	-33.79%	-7.30%	6.27%	-	-
Free Cash Flow Margin	14.33%	11.74%	18.34%	22.54%	13.72%	-6.56%
Free Cash Flow Per Share	0.03	0.02	0.04	0.04	0.04	-0.01
Cash Income Tax Paid	46.71	41.39	53.97	47.26	46.37	16.09
Levered Free Cash Flow	122.58	69.24	147.77	64.13	43.8	-172.32
Unlevered Free Cash Flow	136.13	82.79	154.61	68.8	48.21	-168.87
Change in Working Capital	1.61	1.61	-16.12	-43.35	-112.69	-102.73

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