SHA:600976 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	359.84	362.18	521.46	408.08	305.26
Depreciation & Amortization	45.05	41.18	40.33	38.82	34.12
Other Amortization	26.78	29.4	18.73	15.86	15.92
Loss (Gain) From Sale of Assets	0.15	0.12	-0.68	0.02	-0.48
Asset Writedown & Restructuring Costs	0.68	2.96	11.91	10.73	1.5
Loss (Gain) From Sale of Investments	-137.48	-254.49	-243.27	-153.59	-123.21
Provision & Write-off of Bad Debts	17.58	44.74	3.47	10.09	5.4
Other Operating Activities	14.13	20.82	16.71	20.41	10.15
Change in Accounts Receivable	-40.58	140.3	-252.67	-302.98	3.99
Change in Inventory	63.37	95.64	-92.82	-140.29	9.96
Change in Accounts Payable	-21.88	-261.22	258.71	299.01	4.47
Change in Other Net Operating Assets	0.12	2.44	8.85	9.44	10.27
Operating Cash Flow	274.53	234.27	268.39	215.87	247.92
Operating Cash Flow Growth	17.19%	-12.72%	24.33%	-12.93%	97.48%
Capital Expenditures	-100.67	-120.29	-64.5	-67.96	-56.15
Sale of Property, Plant & Equipment	0.38	0.39	2.88	0.24	1.15
Divestitures	-	-	18.94	-	-
Investment in Securities	-47.37	-127	-137.82	-75.47	62.38
Other Investing Activities	-	-	103.19	-	-
Investing Cash Flow	-147.65	-246.9	-77.31	-143.2	7.38
Short-Term Debt Issued	-	-	-	103.5	45
Long-Term Debt Issued	85.58	154.8	79.45	3.2	10.44
Total Debt Issued	85.58	154.8	79.45	106.7	55.44
Short-Term Debt Repaid	-	-	-	-126	-20
Long-Term Debt Repaid	-119.8	-96.65	-30.2	-101.16	-2.87
Total Debt Repaid	-119.8	-96.65	-30.2	-227.16	-22.87
Net Debt Issued (Repaid)	-34.22	58.15	49.24	-120.46	32.57
Issuance of Common Stock	-	-	-	104.68	14.76
Repurchase of Common Stock	-	-	-	-	-38.34
Common Dividends Paid	-141.3	-187.72	-156.2	-124.01	-58.61
Other Financing Activities	5.78	29.02	21.26	-49.65	9.01
Financing Cash Flow	-169.74	-100.56	-85.7	-189.44	-40.6
Net Cash Flow	-42.86	-113.2	105.39	-116.77	214.69
Free Cash Flow	173.86	113.98	203.89	147.9	191.77
Free Cash Flow Growth	52.54%	-44.10%	37.85%	-22.88%	139.84%
Free Cash Flow Margin	5.16%	3.25%	4.84%	4.06%	5.81%
Free Cash Flow Per Share	1.15	0.75	1.33	0.97	1.26
Cash Income Tax Paid	212.09	202.29	278.4	255.07	227.7
Levered Free Cash Flow	119.23	122.08	143.06	-27.82	261.85
Unlevered Free Cash Flow	127.47	130.17	145.37	-24.82	267.29
Change in Working Capital	-52.22	-12.64	-100.28	-134.56	-0.74

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