SHA:601225 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	FY 2021
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	Dec '21 Dec 31, 2021
Net Income	16,170	16,765	22,360	23,100	35,202	21,419
Depreciation & Amortization	13,162	13,162	13,559	13,222	10,678	9,326
Other Amortization	342.9	342.9	76.01	45.62	18.21	17.89
Loss (Gain) From Sale of Assets	-211.91	-211.91	0.78	-3.93	-22.59	-31.58
Asset Writedown & Restructuring Costs	273.56	273.56	485.1	235.54	1,127	1,441
Loss (Gain) From Sale of Investments	-4,426	-4,426	-3,297	891.32	-9,400	-4,351
Provision & Write-off of Bad Debts	121.72	121.72	228.26	0.2	-128.07	18.52
Other Operating Activities	13,703	10,480	15,066	16,241	18,590	13,314
Change in Accounts Receivable	-96.84	-96.84	1,157	-485.24	-6,138	-3,874
Change in Inventory	421.49	421.49	-1,143	205.85	-1,516	1,596
Change in Accounts Payable	-1,390	-1,390	-5,375	-9,227	7,579	14,153
Change in Other Net Operating Assets	-112.07	-112.07	-481.34	-483.05	-14.81	57.77
Operating Cash Flow	37,897	35,269	42,350	41,986	56,125	52,608
Operating Cash Flow Growth	-7.00%	-16.72%	0.87%	-25.19%	6.69%	148.78%
Capital Expenditures	-17,039	-17,060	-13,893	-12,958	-10,176	-8,405
Sale of Property, Plant & Equipment	118.88	114.78	76.77	150.16	7.78	24.87
Cash Acquisitions	-	-	-	-	-14,024	-118.81
Divestitures	-	-	-32.81	-	-1,178	46.97
Investment in Securities	5,081	5,181	4,862	-4,998	-9,704	-3,577
Other Investing Activities	2,259	2,240	3,133	2,502	1,057	5,299
Investing Cash Flow	-9,579	-9,523	-5,854	-15,303	-34,017	-6,732
Long-Term Debt Issued	-	9,588	14,205	7,190	1,174	2,258
Total Debt Issued	10,133	9,588	14,205	7,190	1,174	2,258
Short-Term Debt Repaid	-	-	-	-	-	-7.17
Long-Term Debt Repaid	-	-5,379	-17,517	-11,854	-10,599	-7,880
Total Debt Repaid	-5,145	-5,379	-17,517	-11,854	-10,599	-7,887
Net Debt Issued (Repaid)	4,989	4,209	-3,312	-4,664	-9,425	-5,629
Issuance of Common Stock	-	-	-	-	6,550	-
Common Dividends Paid	-11,863	-12,976	-14,939	-21,932	-16,586	-8,664
Other Financing Activities	-16,107	-15,837	-17,210	-27,021	-11,043	-3,312
Financing Cash Flow	-22,982	-24,604	-35,461	-53,618	-30,504	-17,604
Foreign Exchange Rate Adjustments	-	-	0	0.31	1.02	-6.03
Net Cash Flow	5,335	1,142	1,035	-26,936	-8,395	28,265
Free Cash Flow	20,858	18,210	28,457	29,028	45,948	44,203
Free Cash Flow Growth	-19.47%	-36.01%	-1.97%	-36.83%	3.95%	244.14%
Free Cash Flow Margin	13.29%	11.51%	15.45%	16.00%	27.54%	29.02%
Free Cash Flow Per Share	2.15	1.88	2.94	2.99	4.74	4.56
Cash Income Tax Paid	24,980	25,588	30,568	31,985	37,029	18,266
Levered Free Cash Flow	10,130	6,753	31,860	23,390	41,814	38,171
Unlevered Free Cash Flow	10,450	7,055	32,398	24,037	42,190	38,559
Change in Working Capital	-1,238	-1,238	-6,128	-11,747	59.46	11,453

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