SHA:600995 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	2,078	1,126	1,014	1,663	1,248
Depreciation & Amortization	1,737	1,719	1,708	1,704	1,466
Other Amortization	30.68	73.49	37.9	13.2	9.89
Loss (Gain) on Sale of Assets	-11.13	-15.75	-1.07	-9.35	-179.96
Loss (Gain) on Sale of Investments	-54.2	-21.99	-9.84	-9.78	-25.53
Asset Writedown	25.68	6.4	10	11.25	-75.9
Change in Accounts Receivable	-110.87	-41.62	-1,069	771.23	1,199
Change in Inventory	-15.17	15.25	2.57	-33.39	-17.74
Change in Accounts Payable	508.23	210.64	1,131	-638.14	935.09
Change in Other Net Operating Assets	-	-	-	-	-14.53
Other Operating Activities	472.62	779.02	752.93	1,096	778.55
Operating Cash Flow	4,623	3,855	3,557	4,601	5,377
Operating Cash Flow Growth	19.91%	8.39%	-22.69%	-14.44%	1696.50%
Capital Expenditures	-8,617	-7,980	-6,730	-5,001	-4,178
Sale of Property, Plant & Equipment	15.64	24.87	2.53	745.31	360.72
Divestitures	-	-	-	-58.87	-
Investment in Securities	251.89	190.99	812.42	-2,338	29.83
Other Investing Activities	6.85	6.1	2.57	11.46	12.13
Investing Cash Flow	-8,343	-7,758	-5,912	-6,641	-3,775
Short-Term Debt Issued	-	1,500	-	155.31	2,300
Long-Term Debt Issued	6,795	7,258	6,404	3,777	3,427
Total Debt Issued	6,795	8,758	6,404	3,932	5,727
Short-Term Debt Repaid	-	-2,300	-779.1	-	-83.18
Long-Term Debt Repaid	-2,092	-1,058	-2,209	-7,288	-3,518
Total Debt Repaid	-2,092	-3,359	-2,988	-7,288	-3,601
Net Debt Issued (Repaid)	4,703	5,399	3,416	-3,355	2,127
Issuance of Common Stock	18.57	30.37	12.04	8,010	-
Common Dividends Paid	-1,005	-1,012	-639.7	-2,060	-859.85
Other Financing Activities	1,189	-313.82	-273.33	-307.21	-261.9
Financing Cash Flow	4,905	4,103	2,515	2,287	1,005
Foreign Exchange Rate Adjustments	-0.17	2.63	1.49	3.07	-1.27
Net Cash Flow	1,184	202.73	161.03	250.13	2,605
Free Cash Flow	-3,995	-4,125	-3,173	-400.29	1,199
Free Cash Flow Growth	-	-	-	-	2348.20%
Free Cash Flow Margin	-54.15%	-66.81%	-56.36%	-4.85%	14.61%
Free Cash Flow Per Share	-1.25	-1.28	-1.00	-0.15	0.47
Cash Interest Paid	-	164.31	54.82	50.43	25.19
Cash Income Tax Paid	1,345	1,044	929.13	1,252	913.95
Levered Free Cash Flow	-4,306	-7,491	-3,425	-159.84	-1,425
Unlevered Free Cash Flow	-4,306	-7,192	-3,099	260.73	-1,145
Change in Working Capital	343.39	188.58	46.99	130.35	2,164

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