SHA:601827 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	1,282	1,168	1,166	1,139	1,238
Depreciation & Amortization	818.18	818.15	778.22	685.07	553.23
Other Amortization	4.79	5.6	5.17	10.39	8.1
Loss (Gain) From Sale of Assets	1.35	0.41	0.28	-2.16	-0.09
Asset Writedown & Restructuring Costs	5.63	-0.01	0.11	0.03	3.76
Loss (Gain) From Sale of Investments	-82.38	-130.31	-134.56	-127.93	-209.47
Provision & Write-off of Bad Debts	-	106.6	52.12	20.92	33.73
Other Operating Activities	334.4	359.52	366.12	426.15	376.11
Change in Accounts Receivable	-166.14	-476.24	-255.82	-376.1	-542.15
Change in Inventory	194.12	317.92	32.11	-234.94	-250.23
Change in Accounts Payable	-229.81	-290.94	375.93	431.4	660.31
Change in Other Net Operating Assets	248.61	226.13	24.39	-	-
Operating Cash Flow	2,355	2,054	2,372	1,949	1,848
Operating Cash Flow Growth	14.69%	-13.43%	21.69%	5.51%	71.00%
Capital Expenditures	-467.76	-563.19	-1,800	-1,691	-2,696
Sale of Property, Plant & Equipment	0.29	1.78	0.21	9.64	0.26
Cash Acquisitions	-	-	-	-	1.79
Divestitures	47.08	-0.98	-	-	-
Investment in Securities	26.75	-79.94	-97.02	-240.45	-89.58
Other Investing Activities	153.45	104.29	127.06	178.36	287.86
Investing Cash Flow	-240.2	-540.64	-1,772	-1,739	-2,496
Long-Term Debt Issued	2,576	866.36	1,845	1,225	3,487
Long-Term Debt Repaid	-2,165	-2,666	-1,252	-729.65	-3,054
Net Debt Issued (Repaid)	410.79	-1,800	592.29	495.03	432.84
Repurchase of Common Stock	-	-42.81	-7.97	-	-
Common Dividends Paid	-613.46	-667.06	-652.1	-701.32	-578.22
Other Financing Activities	-3.43	-17.06	64.27	21.61	118.35
Financing Cash Flow	-206.11	-2,527	-3.51	-184.68	-27.04
Foreign Exchange Rate Adjustments	-0.39	0.56	1.65	8.19	-2.67
Net Cash Flow	1,909	-1,013	598.42	33.9	-678.04
Free Cash Flow	1,888	1,491	571.86	258.7	-848.38
Free Cash Flow Growth	26.64%	160.65%	121.05%	-	-
Free Cash Flow Margin	33.96%	24.88%	9.49%	4.29%	-14.44%
Free Cash Flow Per Share	1.14	0.89	0.34	0.15	-0.51
Cash Income Tax Paid	414.77	364.07	308.9	281.47	278.08
Levered Free Cash Flow	1,102	616.98	-360.86	-214.75	-1,481
Unlevered Free Cash Flow	1,102	775.42	-186.57	-28.29	-1,312
Change in Working Capital	-8.49	-274.34	138.92	-202.29	-156.01

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