SHA:600971 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	-205.34	1,072	2,036	2,527	1,387
Depreciation & Amortization	780.29	739.01	707.54	705.82	682.64
Other Amortization	-	0.45	-	-	-
Loss (Gain) From Sale of Assets	-26.38	-0.44	-1.56	-6.36	-0.51
Asset Writedown & Restructuring Costs	78.5	135.6	-21.6	24.83	26.26
Loss (Gain) From Sale of Investments	-125.64	-123.16	-92.73	-72.3	-52.24
Provision & Write-off of Bad Debts	-	20.12	22.3	0.37	4.06
Other Operating Activities	185.25	46.13	74.97	88.27	98.33
Change in Accounts Receivable	429.44	24.17	909.06	-5,749	-5,183
Change in Inventory	-51.32	115.01	114.79	15.71	-178.78
Change in Accounts Payable	150.62	-859.87	-376.82	5,376	5,300
Change in Other Net Operating Assets	-614.6	199.61	224.33	81.47	64.38
Operating Cash Flow	554.71	1,377	3,577	2,987	2,153
Operating Cash Flow Growth	-59.71%	-61.50%	19.77%	38.70%	29.23%
Capital Expenditures	-594.52	-1,034	-1,215	-919.9	-539.49
Sale of Property, Plant & Equipment	79.65	4.32	49.2	1.73	0.86
Cash Acquisitions	-335.35	-	-1,309	-	-
Investment in Securities	-15.36	-656.89	-442.5	-189.19	-307.33
Other Investing Activities	-1,079	67.01	4.95	12.29	1.24
Investing Cash Flow	-1,944	-1,620	-2,912	-1,095	-844.71
Long-Term Debt Issued	1,671	1,196	1,613	1,662	1,510
Long-Term Debt Repaid	-1,425	-1,350	-1,693	-1,703	-1,604
Net Debt Issued (Repaid)	245.9	-153.93	-79.13	-41.74	-93.75
Issuance of Common Stock	0.54	-	-	-	34.91
Common Dividends Paid	-625.55	-1,069	-1,264	-693.91	-488.64
Other Financing Activities	-1.48	1.99	17.9	0.12	-24.43
Financing Cash Flow	-380.59	-1,221	-1,325	-735.52	-571.91
Net Cash Flow	-1,770	-1,464	-660.1	1,156	736.74
Free Cash Flow	-39.81	342.73	2,362	2,067	1,614
Free Cash Flow Growth	-	-85.49%	14.30%	28.06%	27.98%
Free Cash Flow Margin	-0.72%	4.92%	30.34%	24.64%	23.91%
Free Cash Flow Per Share	-0.03	0.29	1.97	1.72	1.34
Cash Income Tax Paid	696.18	1,046	1,344	1,659	939.04
Levered Free Cash Flow	716.8	545.18	1,468	1,493	1,544
Unlevered Free Cash Flow	716.8	579.07	1,509	1,549	1,605
Change in Working Capital	-131.96	-512.73	852.11	-280.96	7.68

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