SHA:601112 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	752.69	733.95	605.64	790.16	774.45
Depreciation & Amortization	372.23	372.23	218.97	198.7	193.04
Other Amortization	7.12	7.12	1.7	4.84	4.71
Loss (Gain) From Sale of Assets	2.09	2.09	0.18	-0.13	-0.96
Asset Writedown & Restructuring Costs	-	-	-	0.15	0.11
Loss (Gain) From Sale of Investments	-4.9	-4.9	-4.3	4.48	-1.26
Provision & Write-off of Bad Debts	91.03	91.03	33.69	-19.9	29.09
Other Operating Activities	173.24	161.6	134.92	158.71	113.79
Change in Accounts Receivable	-2,070	-2,070	-979.03	-268.74	-1,893
Change in Inventory	-387.96	-387.96	-355.7	376.74	-63.72
Change in Accounts Payable	1,589	1,589	448.47	-1,657	633.81
Change in Other Net Operating Assets	4.4	4.4	0.89	0.94	-0.62
Operating Cash Flow	479.51	449.14	102.98	-409.34	-208
Operating Cash Flow Growth	-	336.13%	-	-	-
Capital Expenditures	-623.76	-608.67	-928.01	-768.65	-523.89
Sale of Property, Plant & Equipment	3.16	3.16	2.7	10.48	10.2
Investment in Securities	-733.66	127.59	-22.3	351.12	-228.12
Other Investing Activities	4.76	5.56	2.39	2.35	146.03
Investing Cash Flow	-1,349	-472.35	-945.22	-404.7	-595.78
Long-Term Debt Issued	-	2,928	5,105	6,856	3,133
Long-Term Debt Repaid	-	-2,519	-4,332	-4,083	-1,054
Net Debt Issued (Repaid)	-1,987	409.3	773.33	2,773	2,078
Issuance of Common Stock	2,822	-	-	64.26	-
Common Dividends Paid	-118.89	-126.17	-138.56	-743.63	-635.16
Other Financing Activities	-121.8	-74.67	-12	-681.81	-373.74
Financing Cash Flow	593.95	208.46	622.77	1,412	1,069
Foreign Exchange Rate Adjustments	-39.08	-13.98	-1.85	-0.6	7.52
Net Cash Flow	-315.11	171.27	-221.33	597.15	273.22
Free Cash Flow	-144.25	-159.53	-825.03	-1,178	-731.89
Free Cash Flow Margin	-1.93%	-2.21%	-18.59%	-22.99%	-13.89%
Free Cash Flow Per Share	-0.10	-0.11	-0.56	-0.91	-0.79
Cash Income Tax Paid	367.41	367.41	116.99	219.73	393.76
Levered Free Cash Flow	-	184.35	-420.58	-1,353	-
Unlevered Free Cash Flow	-	259.07	-342.04	-1,264	-
Change in Working Capital	-913.99	-913.99	-887.81	-1,553	-1,325

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