SHA:601186 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	18,363	22,215	26,097	26,681	24,691
Depreciation & Amortization	27,305	23,626	21,052	20,309	18,171
Other Amortization	542.43	415.36	701.92	485.86	379.69
Loss (Gain) From Sale of Assets	-329.11	-208.4	-602.84	-54.75	-545.5
Asset Writedown & Restructuring Costs	1,185	1,870	333.86	305.26	412.81
Loss (Gain) From Sale of Investments	-2,223	1,109	-675.66	-840.82	-3,522
Provision & Write-off of Bad Debts	5,925	5,420	8,083	6,393	9,217
Other Operating Activities	19,545	15,077	13,595	10,709	10,532
Change in Accounts Receivable	-116,267	-150,854	-84,917	-62,962	-59,695
Change in Inventory	17,379	19,556	-9,340	-21,544	-47,411
Change in Accounts Payable	33,770	32,082	47,571	78,293	39,774
Change in Other Net Operating Assets	-435.83	-784.67	324.39	-371.03	2,286
Operating Cash Flow	2,957	-31,424	20,412	56,135	-7,304
Operating Cash Flow Growth	-	-	-63.64%	-	-
Capital Expenditures	-47,601	-37,949	-34,921	-30,260	-32,875
Sale of Property, Plant & Equipment	2,693	2,760	3,856	2,470	1,950
Cash Acquisitions	-3,462	-1,493	227.37	849.38	-3.01
Divestitures	-	-	16.48	2,917	1,092
Investment in Securities	-11,376	-9,285	-28,834	-39,545	-34,582
Other Investing Activities	2,785	-2,072	3,745	7,923	3,349
Investing Cash Flow	-56,961	-48,040	-55,909	-55,646	-61,070
Long-Term Debt Issued	507,648	483,562	306,980	248,584	196,301
Long-Term Debt Repaid	-409,874	-353,217	-247,223	-211,779	-176,323
Net Debt Issued (Repaid)	97,774	130,346	59,757	36,804	19,978
Issuance of Common Stock	25,349	16,489	7,192	14,127	12,388
Repurchase of Common Stock	-29,214	-11,800	-7,700	-17,300	-
Common Dividends Paid	-26,759	-22,322	-19,525	-18,080	-18,296
Other Financing Activities	-7,319	-17,954	4,867	18,343	-3,469
Financing Cash Flow	59,830	94,758	44,592	33,894	10,602
Foreign Exchange Rate Adjustments	110.12	-561.05	-972.12	390.15	-155.62
Net Cash Flow	5,937	14,734	8,122	34,774	-57,928
Free Cash Flow	-44,644	-69,373	-14,509	25,875	-40,179
Free Cash Flow Margin	-4.33%	-6.50%	-1.27%	2.36%	-3.94%
Free Cash Flow Per Share	-3.29	-5.11	-1.07	1.91	-2.96
Cash Income Tax Paid	23,650	27,123	28,519	24,012	22,648
Levered Free Cash Flow	-31,892	-32,433	-7,270	51,399	-45,016
Unlevered Free Cash Flow	-23,722	-26,411	-2,608	55,238	-41,255
Change in Working Capital	-67,361	-100,937	-48,181	-7,814	-66,661

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