SHA:601126 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	828.97	715.59	627.21	543.21	451.89
Depreciation & Amortization	110.56	115.15	103.34	90.17	97.82
Other Amortization	25.92	6.33	4.99	4.43	8.1
Loss (Gain) From Sale of Assets	-0.89	-0.05	-0.15	-0.14	-0.73
Loss (Gain) From Sale of Investments	-24.98	-5.36	-6.96	0.95	-2.37
Provision & Write-off of Bad Debts	113.98	65.93	24.38	-5.85	15.83
Other Operating Activities	26.02	19.16	56.39	30.75	33.19
Change in Accounts Receivable	-801.49	-857.84	-118.64	-395.24	-122.05
Change in Inventory	-388.62	50.26	-160.72	-389.28	-500.57
Change in Accounts Payable	1,326	1,094	663.3	766.4	619.84
Change in Other Net Operating Assets	41.2	76.89	57.83	36.41	59.2
Operating Cash Flow	1,225	1,254	1,233	709.93	668.21
Operating Cash Flow Growth	-2.35%	1.75%	73.63%	6.24%	-32.19%
Capital Expenditures	-209.62	-167.35	-127.83	-75.25	-42.5
Sale of Property, Plant & Equipment	1.7	0.06	0.33	0.12	1.65
Investment in Securities	-260	-240	-	-30.17	-18.7
Other Investing Activities	15.53	14.49	3.64	1.49	10.47
Investing Cash Flow	-452.39	-392.8	-123.86	-103.8	-49.08
Long-Term Debt Repaid	-1.88	-4.98	-4.98	-6.88	-
Total Debt Repaid	-1.88	-4.98	-4.98	-6.88	-
Net Debt Issued (Repaid)	-1.88	-4.98	-4.98	-6.88	-
Issuance of Common Stock	-	9.26	145.84	-	-
Repurchase of Common Stock	-1.7	-0.98	-	-	-
Common Dividends Paid	-599.95	-499.35	-500.1	-406.59	-796.91
Other Financing Activities	-1.86	-	-	-	-
Financing Cash Flow	-605.4	-496.05	-359.24	-413.47	-796.91
Foreign Exchange Rate Adjustments	-3.39	1.17	0.31	2.2	-1.72
Net Cash Flow	163.48	366.5	749.87	194.87	-179.5
Free Cash Flow	1,015	1,087	1,105	634.69	625.7
Free Cash Flow Growth	-6.61%	-1.63%	74.08%	1.44%	-33.86%
Free Cash Flow Margin	12.39%	15.64%	19.21%	12.50%	14.56%
Free Cash Flow Per Share	1.22	1.32	1.32	0.78	0.78
Cash Income Tax Paid	453.9	438.4	369.79	361.6	461.8
Levered Free Cash Flow	830.48	936.66	1,129	585.77	521.23
Unlevered Free Cash Flow	830.48	936.84	1,130	586.38	522.04
Change in Working Capital	145.08	337.44	423.48	46.41	64.47

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