SHA:601512 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	1,217	637.1	1,362	1,608	1,522
Depreciation & Amortization	481.03	468.68	404.33	374.72	360.91
Other Amortization	6.9	3.07	4.52	4.83	2.52
Loss (Gain) From Sale of Assets	-0.26	-35.73	-11.04	0.17	-34.93
Asset Writedown & Restructuring Costs	-315.83	242.48	119.63	38.02	30.69
Loss (Gain) From Sale of Investments	-362.67	-279.42	-683.95	-519.74	-551.13
Provision & Write-off of Bad Debts	31.87	26.84	-3.06	-10.75	20.25
Other Operating Activities	242.92	616.02	397.32	795.62	580.42
Change in Accounts Receivable	-93.33	-1,256	311.67	-1,088	-270.11
Change in Inventory	164.41	908.5	-371.52	-128.27	-1,771
Change in Accounts Payable	-62.12	-193.36	165.19	-57.94	409.68
Operating Cash Flow	1,407	1,109	1,763	1,164	373.73
Operating Cash Flow Growth	26.89%	-37.11%	51.48%	211.37%	-
Capital Expenditures	-580.69	-747.96	-951.35	-723.94	-927.47
Sale of Property, Plant & Equipment	32.25	4.05	0.33	0.29	0.68
Cash Acquisitions	-30.83	-184.75	-182.37	-13.2	-171.41
Divestitures	124.15	7.02	199.12	192.93	-0.16
Investment in Securities	-164.71	-742.77	-909.78	-930.6	-889.74
Other Investing Activities	233.56	214.3	195.04	109.98	128.47
Investing Cash Flow	-386.26	-1,450	-1,649	-1,365	-1,860
Long-Term Debt Issued	3,619	3,144	3,578	3,965	3,128
Long-Term Debt Repaid	-3,750	-2,850	-2,735	-2,458	-1,440
Net Debt Issued (Repaid)	-131.42	293.34	843.35	1,508	1,688
Issuance of Common Stock	10.55	-	-	-	-
Common Dividends Paid	-544	-795.97	-953.73	-797.84	-654.43
Other Financing Activities	-12.61	26.35	235.77	-8.02	-258.13
Financing Cash Flow	-677.47	-476.28	125.39	701.73	775.43
Foreign Exchange Rate Adjustments	-2.19	0.32	1.15	1.29	-0.4
Net Cash Flow	340.85	-817.43	240.29	502.19	-710.86
Free Cash Flow	826.09	360.69	811.41	439.77	-553.74
Free Cash Flow Growth	129.03%	-55.55%	84.51%	-	-
Free Cash Flow Margin	25.70%	13.43%	22.19%	9.27%	-14.14%
Free Cash Flow Per Share	0.55	0.24	0.54	0.29	-0.37
Cash Income Tax Paid	-	687.36	729.26	917.77	630.6
Levered Free Cash Flow	2,522	282.61	296.03	-500.62	-984.07
Unlevered Free Cash Flow	2,674	438.41	439.85	-361.01	-918.22
Change in Working Capital	105.42	-570.39	173.09	-1,127	-1,557

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