SHA:600874 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	862.36	807.21	865.21	751.25	693.19
Depreciation & Amortization	753.32	756.98	659.81	598.24	630.29
Other Amortization	6.78	-	-	-	-
Loss (Gain) From Sale of Assets	17.54	-	-0.02	2.56	0.02
Asset Writedown & Restructuring Costs	0.08	150.68	169.79	106.46	152.51
Loss (Gain) From Sale of Investments	-22.8	-1.55	4.26	3.6	-
Provision & Write-off of Bad Debts	49	91.09	75.5	54.71	-5.06
Other Operating Activities	369.55	430.43	419.58	451.63	335.5
Change in Accounts Receivable	1,080	-537.41	-982.05	-959.97	-1,019
Change in Inventory	-2.09	-4.85	-4.54	-9.32	-2.57
Change in Accounts Payable	202.74	-269.6	-192.03	-65.37	147.29
Operating Cash Flow	3,302	1,382	992.02	912.05	936.81
Operating Cash Flow Growth	138.95%	39.31%	8.77%	-2.64%	75.95%
Capital Expenditures	-928.25	-686.44	-1,666	-666.86	-838.67
Sale of Property, Plant & Equipment	-	0.2	0.69	0.37	4.21
Cash Acquisitions	-	-	-	-	-673.02
Divestitures	-0.28	-	-	-	-
Investment in Securities	-	-8.89	-	-	-
Other Investing Activities	17.26	-50.23	22.54	-18.2	-39.94
Investing Cash Flow	-911.27	-745.37	-1,643	-684.69	-1,547
Short-Term Debt Issued	-	0.5	1	-	-
Long-Term Debt Issued	2,736	3,145	2,557	2,589	6,065
Total Debt Issued	2,736	3,146	2,558	2,589	6,065
Long-Term Debt Repaid	-2,539	-2,982	-1,917	-1,895	-4,453
Net Debt Issued (Repaid)	197.38	163.9	641.18	694	1,612
Issuance of Common Stock	-	-	-	813.89	-
Common Dividends Paid	-532.55	-653.88	-602.14	-580.38	-530.48
Other Financing Activities	-78.21	-52.52	-4.93	-60.09	-29.89
Financing Cash Flow	-413.37	-542.51	34.11	867.43	1,052
Net Cash Flow	1,978	94.14	-616.98	1,095	440.9
Free Cash Flow	2,374	695.57	-674.32	245.19	98.14
Free Cash Flow Growth	241.31%	-	-	149.84%	-
Free Cash Flow Margin	49.88%	14.41%	-14.46%	5.42%	2.16%
Free Cash Flow Per Share	1.51	0.44	-0.43	0.17	0.07
Cash Interest Paid	0.75	-	0.85	-	-
Cash Income Tax Paid	409.98	314.94	279.67	235.2	240.73
Levered Free Cash Flow	-645.2	433.2	-681.56	-28.91	-116.72
Unlevered Free Cash Flow	-451.51	671.77	-437.28	223	95.42
Change in Working Capital	1,266	-852.81	-1,202	-1,056	-869.64

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