SHA:601788 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	3,724	3,058	4,271	3,189	3,484
Depreciation & Amortization, Total	449.72	635.01	647.51	588.18	543.35
Gain (Loss) On Sale of Investments	-440.08	-379.25	-273.38	-566.66	-511.36
Change in Accounts Receivable	-3,053	-3,240	11,805	-7,723	-15,047
Change in Accounts Payable	12,464	36,540	2,809	20,265	3,270
Other Operating Activities	247.51	152.68	-3,544	1,456	2,785
Operating Cash Flow	13,907	36,382	15,581	18,329	-4,832
Capital Expenditures	-269.13	-372.01	-506.04	-286.48	-302.41
Investment in Securities	-14,531	-15,918	-15,249	-9,576	5,703
Other Investing Activities	1,583	1,245	942.84	817.68	1,279
Investing Cash Flow	-13,204	-15,043	-14,810	-9,029	6,683
Long-Term Debt Issued	43,863	37,372	31,219	43,718	77,070
Long-Term Debt Repaid	-34,262	-42,037	-32,269	-51,326	-75,722
Net Debt Issued (Repaid)	9,601	-4,665	-1,050	-7,607	1,349
Issuance of Common Stock	-	-	-	4,500	2,999
Common Dividends Paid	-2,633	-3,604	-3,058	-3,360	-3,263
Other Financing Activities	-	-	-7.55	-	-1,547
Financing Cash Flow	6,969	-8,269	-4,115	-6,467	-462.35
Foreign Exchange Rate Adjustments	-29.32	39.9	11.95	90.44	-30.47
Net Cash Flow	7,642	13,110	-3,332	2,924	1,358
Free Cash Flow	13,637	36,010	15,075	18,043	-5,135
Free Cash Flow Growth	-62.13%	138.87%	-16.45%	-	-
Free Cash Flow Margin	128.32%	377.71%	158.06%	173.14%	-31.25%
Free Cash Flow Per Share	2.67	6.83	2.96	3.45	-1.06
Cash Interest Paid	3,785	3,636	3,208	2,490	3,015
Cash Income Tax Paid	2,149	1,175	1,215	3,085	2,855

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