SHA:601101 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	639.76	1,037	1,040	1,344	2,014
Depreciation & Amortization	1,030	923.02	779.48	528.8	498.98
Other Amortization	38.03	38.69	26.66	18.55	15.05
Loss (Gain) From Sale of Assets	1.05	-0.08	-52.42	-0.52	-3
Asset Writedown & Restructuring Costs	98.78	51.86	286.13	12.19	14.18
Loss (Gain) From Sale of Investments	-78.2	1.06	-0.11	362.45	-41.3
Provision & Write-off of Bad Debts	-	0	-2.32	-14.1	4.71
Other Operating Activities	303.12	875.3	1,065	1,246	1,324
Change in Accounts Receivable	-228.38	-204.07	261.82	328.02	-75.01
Change in Inventory	95.18	-37.74	74.68	121.02	66.65
Change in Accounts Payable	73.28	706	158.89	279.83	465.72
Change in Other Net Operating Assets	-	-	-0.86	-	-
Operating Cash Flow	1,967	3,401	3,655	4,207	4,279
Operating Cash Flow Growth	-42.18%	-6.95%	-13.12%	-1.69%	142.72%
Capital Expenditures	-1,121	-1,092	-2,370	-1,721	-1,461
Sale of Property, Plant & Equipment	85.77	0.14	70.8	0.49	123.11
Investment in Securities	-1.2	15.36	26.91	-152	-
Other Investing Activities	48.86	1.3	0.14	126.41	1,137
Investing Cash Flow	-987.42	-1,075	-2,272	-1,746	-200.77
Long-Term Debt Issued	1,758	2,300	1,858	6,292	2,937
Total Debt Issued	1,758	2,300	1,858	6,292	2,937
Long-Term Debt Repaid	-1,344	-4,455	-1,792	-5,699	-3,668
Total Debt Repaid	-1,344	-4,455	-1,792	-5,699	-3,668
Net Debt Issued (Repaid)	414.51	-2,155	66.28	592.72	-731.07
Common Dividends Paid	-816.07	-739.24	-813.83	-1,068	-522.36
Other Financing Activities	-330.46	-490.41	-820.63	-867.9	-296.99
Financing Cash Flow	-732.02	-3,385	-1,568	-1,343	-1,550
Foreign Exchange Rate Adjustments	0.32	-0.04	0.09	0.39	-0.1
Net Cash Flow	247.47	-1,059	-184.71	1,119	2,528
Free Cash Flow	845.75	2,310	1,286	2,486	2,818
Free Cash Flow Growth	-63.38%	79.65%	-48.29%	-11.77%	277.03%
Free Cash Flow Margin	10.54%	25.27%	15.24%	26.77%	33.67%
Free Cash Flow Per Share	0.59	1.60	0.89	1.72	1.96
Cash Income Tax Paid	1,686	2,042	2,152	13.69	33.75
Levered Free Cash Flow	357.26	1,858	110.87	1,966	1,243
Unlevered Free Cash Flow	357.26	1,991	263.58	2,096	1,434
Change in Working Capital	-66.3	474.6	512.32	710.34	451.75

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