SHA:601018 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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.