SHA:601777 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	84.41	40.02	24.21	154.68	55.64
Depreciation & Amortization	351.7	514.66	336.74	166.37	167.69
Other Amortization	393.62	6.99	3.14	0.13	3.13
Loss (Gain) From Sale of Assets	-53.74	-18.72	-3.09	11.44	11.04
Asset Writedown & Restructuring Costs	295.28	136.79	35.21	12.09	-47.21
Loss (Gain) From Sale of Investments	-446.65	-514.72	-483.62	-414.2	-283.78
Provision & Write-off of Bad Debts	8.08	0.31	9.54	16.01	-10.05
Other Operating Activities	-149.13	-181.16	-83.49	208.76	190.18
Change in Accounts Receivable	351.71	-306.08	529.36	-3,033	-157.85
Change in Inventory	545.82	598.32	-465.37	-210.3	615.36
Change in Accounts Payable	587.6	198.24	-50.93	2,777	-191.32
Change in Other Net Operating Assets	-	9.76	23.77	11.68	-
Operating Cash Flow	2,135	525.21	-238.84	-255.23	375.5
Operating Cash Flow Growth	306.46%	-	-	-	60.05%
Capital Expenditures	-544.5	-397.52	-466.65	-225.29	-51.75
Sale of Property, Plant & Equipment	284.1	28.15	13.55	26.79	40.3
Divestitures	-	17.3	-0	-1.51	81.12
Investment in Securities	-200	57.16	-6.99	-6.6	-497.53
Other Investing Activities	-1,503	564.23	161.49	59.8	55.87
Investing Cash Flow	-1,964	269.31	-298.6	-146.81	-371.99
Long-Term Debt Issued	533	1,088	224.4	0.1	138.49
Long-Term Debt Repaid	-1,377	-1,365	-665.67	-313.55	-880.53
Total Debt Repaid	-1,377	-1,365	-665.67	-313.55	-880.53
Net Debt Issued (Repaid)	-844.43	-277.41	-441.27	-313.45	-742.03
Issuance of Common Stock	42.05	-	-	484.5	-
Repurchase of Common Stock	-210.26	-110.91	-	-	-
Common Dividends Paid	-66.43	-93.33	-125.54	-112.84	-158.21
Other Financing Activities	2,071	27.09	335.43	5.54	643.7
Financing Cash Flow	992.19	-454.56	-231.38	63.75	-256.54
Foreign Exchange Rate Adjustments	32.97	-4.62	12.04	15.26	-4.63
Net Cash Flow	1,196	335.34	-756.78	-323.02	-257.66
Free Cash Flow	1,590	127.69	-705.49	-480.52	323.75
Free Cash Flow Growth	1145.44%	-	-	-	124.28%
Free Cash Flow Margin	15.90%	1.81%	-10.42%	-5.55%	8.14%
Free Cash Flow Per Share	0.38	0.03	-0.29	-0.09	0.06
Cash Income Tax Paid	-148.1	32.82	-35.17	-358.96	-171.48
Levered Free Cash Flow	2,051	888.45	1,959	229.41	1,344
Unlevered Free Cash Flow	2,096	946.78	2,036	312.82	1,445
Change in Working Capital	1,651	541.05	-77.49	-410.51	288.87

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