SHA:601018 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	-	4,898	4,668	4,227	4,332
Depreciation & Amortization	-	4,221	3,706	3,256	2,970
Other Amortization	-	176.07	33.06	23.07	20.64
Loss (Gain) From Sale of Assets	-	-5.56	-47.31	-214.92	24.26
Asset Writedown & Restructuring Costs	-	-	-	29.34	-11.25
Loss (Gain) From Sale of Investments	-	-1,935	-1,587	-963.75	-1,061
Provision & Write-off of Bad Debts	-	51.66	-4.82	-5.89	-51.27
Other Operating Activities	-	789.03	905.33	1,026	1,014
Change in Accounts Receivable	-	-1,338	-1,001	-2,952	-1,657
Change in Inventory	-	323.33	-304.79	-97.38	-52.16
Change in Accounts Payable	-	-651.74	573.57	1,224	2,335
Change in Other Net Operating Assets	-	98.65	279.69	-592.34	246.07
Operating Cash Flow	-	6,763	7,354	5,053	8,036
Operating Cash Flow Growth	-	-8.04%	45.54%	-37.13%	20.38%
Capital Expenditures	-	-5,206	-8,899	-6,357	-6,366
Sale of Property, Plant & Equipment	-	183.07	80.67	182.93	211.24
Cash Acquisitions	-	253.96	-1,665	-	3.17
Divestitures	-	-119.97	22.31	7.67	30.13
Sale (Purchase) of Real Estate	-	-500	-	-	-
Investment in Securities	-	-913.69	-922.24	-125.61	167.26
Other Investing Activities	-	672.86	554.7	929.61	467.11
Investing Cash Flow	-	-5,629	-10,829	-5,362	-5,487
Long-Term Debt Issued	-	6,529	5,468	8,189	18,723
Long-Term Debt Repaid	-	-10,170	-6,624	-14,592	-15,521
Net Debt Issued (Repaid)	-	-3,642	-1,156	-6,403	3,202
Issuance of Common Stock	-	-	-	14,103	-
Common Dividends Paid	-	-2,207	-2,172	-2,004	-1,860
Other Financing Activities	-	-155.31	-102.31	568.92	-3,307
Financing Cash Flow	-	-6,004	-3,431	6,265	-1,965
Foreign Exchange Rate Adjustments	-	25.04	14.12	51.94	-10.29
Net Cash Flow	-	-4,845	-6,891	6,007	574.2
Free Cash Flow	-	1,557	-1,545	-1,304	1,671
Free Cash Flow Growth	-	-	-	-	-26.90%
Free Cash Flow Margin	-	5.43%	-5.94%	-5.02%	7.22%
Free Cash Flow Per Share	-	0.08	-0.08	-0.08	0.11
Cash Interest Paid	-	74.65	75.68	79.66	101.22
Cash Income Tax Paid	-	1,480	1,271	930.27	1,544
Levered Free Cash Flow	-	725.61	-1,461	-956.28	-888.8
Unlevered Free Cash Flow	-	906.74	-1,205	-590.91	-532.25
Change in Working Capital	-	-1,437	-326.7	-2,419	812.99

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