SHA:601336 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	36,284	26,229	8,712	21,500	14,947
Depreciation & Amortization	1,419	1,409	1,474	1,611	1,389
Other Amortization	467	439	414	299	357
Gain (Loss) on Sale of Assets	4	3	1	2	5
Gain (Loss) on Sale of Investments	-22,121	-34,534	5,931	4,958	2,250
Change in Accounts Receivable	-107	3,035	3,377	-674	-1,282
Reinsurance Recoverable	-103	-270	992	-	-
Change in Insurance Reserves / Liabilities	173,494	141,630	102,355	-	-
Change in Other Net Operating Assets	-1,362	-1,864	-2,289	-899	3,449
Other Operating Activities	-80,538	-43,202	-29,726	61,719	52,735
Operating Cash Flow	110,916	96,290	91,548	88,516	73,853
Operating Cash Flow Growth	15.19%	5.18%	3.43%	19.85%	9.93%
Capital Expenditures	-1,482	-1,100	-2,090	-1,789	-3,258
Sale of Property, Plant & Equipment	9	11	29	2	7
Cash Acquisitions	4,225	877	3,606	-	956
Investment in Securities	-160,429	-183,605	-204,361	-137,043	-142,442
Other Investing Activities	46,375	41,877	39,189	41,318	37,070
Investing Cash Flow	-110,116	-141,771	-156,649	-89,601	-106,531
Short-Term Debt Issued	-	-	-	-	13,611
Long-Term Debt Issued	18,968	77,011	70,846	-	-
Total Debt Issued	18,968	77,011	70,846	-	13,611
Total Debt Repaid	-10,362	-430	-476	-13,749	-585
Net Debt Issued (Repaid)	8,606	76,581	70,370	-13,749	13,026
Common Dividends Paid	-12,008	-4,699	-3,755	-5,065	-4,666
Other Financing Activities	7,141	-9,853	2,671	21,653	26,881
Financing Cash Flow	3,739	62,029	69,286	2,839	35,241
Foreign Exchange Rate Adjustments	-73	96	17	373	-97
Net Cash Flow	4,466	16,644	4,202	2,127	2,466
Free Cash Flow	109,434	95,190	89,458	86,727	70,595
Free Cash Flow Growth	14.96%	6.41%	3.15%	22.85%	10.06%
Free Cash Flow Margin	146.61%	146.22%	212.59%	134.00%	32.07%
Free Cash Flow Per Share	35.08	30.51	28.67	27.80	22.63
Cash Income Tax Paid	2,878	1,137	838	292	3,192
Levered Free Cash Flow	-76,376	-86,976	-274,784	-20,918	-40,670
Unlevered Free Cash Flow	-74,183	-84,997	-273,481	-20,185	-40,170
Change in Working Capital	171,922	142,531	104,435	-1,573	2,167

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