SHA:600960 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	168.08	-1,264	-198.81	-62.26	-90.11
Depreciation & Amortization	221.82	314.19	339.68	340.18	354.62
Other Amortization	30.74	20.59	8.58	8.05	6.05
Loss (Gain) From Sale of Assets	-0.1	-0.74	0.22	0.14	1
Asset Writedown & Restructuring Costs	77.86	364.1	0.09	-	36.43
Loss (Gain) From Sale of Investments	-398.09	-12.67	-7.11	-1.62	-44.98
Provision & Write-off of Bad Debts	-	4.35	5.96	1.75	6.29
Other Operating Activities	188.7	224.37	123.29	71.78	136.64
Change in Accounts Receivable	-173.38	13.8	-187.81	130.37	16.58
Change in Inventory	-119.89	-158.79	-131.33	-98.54	-142.38
Change in Accounts Payable	17.25	511.21	299.21	-155.31	-126.15
Operating Cash Flow	21.06	12.78	248.44	233.09	136.99
Operating Cash Flow Growth	64.81%	-94.86%	6.59%	70.15%	25.37%
Capital Expenditures	-54.31	-137.83	-175.22	-151.73	-180.19
Sale of Property, Plant & Equipment	9.94	4.87	1.85	1.52	2.81
Divestitures	-	-	-	-	43.35
Investment in Securities	-	16.33	-245.38	1.55	-165.72
Other Investing Activities	16.6	55.47	79.41	55.51	113.81
Investing Cash Flow	-27.78	-61.16	-339.33	-93.15	-185.95
Long-Term Debt Issued	1,492	2,100	1,313	1,403	1,212
Total Debt Issued	1,492	2,100	1,313	1,403	1,212
Long-Term Debt Repaid	-1,737	-1,820	-1,309	-1,315	-2,077
Total Debt Repaid	-1,737	-1,820	-1,309	-1,315	-2,077
Net Debt Issued (Repaid)	-245.41	280	4.52	87.94	-864.45
Common Dividends Paid	-58.37	-77.83	-92.59	-82.27	-101.48
Other Financing Activities	2	-156.49	2.46	-185.39	-50.09
Financing Cash Flow	-301.77	45.67	-85.61	-179.72	-1,016
Foreign Exchange Rate Adjustments	0.59	1.08	10	5.1	-61.68
Net Cash Flow	-307.9	-1.62	-166.5	-34.66	-1,127
Free Cash Flow	-33.25	-125.05	73.22	81.36	-43.2
Free Cash Flow Growth	-	-	-10.00%	-	-
Free Cash Flow Margin	-1.07%	-2.96%	1.57%	1.98%	-0.98%
Free Cash Flow Per Share	-0.04	-0.13	0.08	0.09	-0.04
Cash Income Tax Paid	80.94	53.67	50.13	20.5	33.24
Levered Free Cash Flow	18.68	-98.49	145.6	95.94	25.21
Unlevered Free Cash Flow	18.68	-44.81	189.94	135.08	81.85
Change in Working Capital	-267.96	362.32	-23.46	-125.41	-269.61

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