SHA:601888 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	3,586	4,267	6,714	5,030	9,654
Depreciation & Amortization	843.31	1,073	896.59	1,132	1,278
Other Amortization	470.65	469.06	412.92	305.13	244.08
Loss (Gain) From Sale of Assets	-50.31	-23.82	-48.29	-9.09	-1.25
Asset Writedown & Restructuring Costs	345.85	0.21	20.04	0.01	0.42
Loss (Gain) From Sale of Investments	69.02	-63.81	-86.98	-162.49	-162.33
Provision & Write-off of Bad Debts	2.01	0.02	0.53	0.18	-0.16
Other Operating Activities	753.99	1,383	1,485	1,827	3,439
Change in Accounts Receivable	-882.74	-113.54	-580.7	-426.45	-446.58
Change in Inventory	1,681	3,847	6,232	-8,792	-5,491
Change in Accounts Payable	-1,292	-2,925	306.07	-2,417	-556.86
Operating Cash Flow	6,059	7,939	15,126	-3,415	8,329
Operating Cash Flow Growth	-23.69%	-47.51%	-	-	1.56%
Capital Expenditures	-1,273	-1,119	-1,802	-2,995	-2,155
Sale of Property, Plant & Equipment	53.53	0.8	0.31	4.64	1.65
Cash Acquisitions	-5.02	18.31	-	-	-126.48
Investment in Securities	-2,275	247.46	-2,923	-875	-61.5
Other Investing Activities	19.34	398.11	8.64	59.09	23.64
Investing Cash Flow	-3,480	-454.3	-4,716	-3,807	-2,318
Long-Term Debt Issued	708.09	63.66	159.5	4,010	-
Total Debt Issued	708.09	63.66	159.5	4,010	-
Long-Term Debt Repaid	-782.41	-881.28	-2,275	-670.68	-418.02
Total Debt Repaid	-782.41	-881.28	-2,275	-670.68	-418.02
Net Debt Issued (Repaid)	-74.32	-817.62	-2,115	3,339	-418.02
Issuance of Common Stock	-	-	-	16,081	-
Common Dividends Paid	-2,743	-3,498	-1,771	-2,943	-1,971
Other Financing Activities	-364.38	-51.94	-741.9	-1,023	-1,428
Financing Cash Flow	-3,182	-4,367	-4,628	15,455	-3,817
Foreign Exchange Rate Adjustments	-429.81	-96.99	207.2	872.94	-196.39
Net Cash Flow	-1,034	3,021	5,990	9,106	1,998
Free Cash Flow	4,785	6,820	13,325	-6,411	6,174
Free Cash Flow Growth	-29.84%	-48.81%	-	-	-11.39%
Free Cash Flow Margin	8.91%	12.08%	19.73%	-11.78%	9.12%
Free Cash Flow Per Share	2.31	3.30	6.44	-3.22	3.16
Cash Income Tax Paid	2,196	1,911	5,761	6,959	5,478
Levered Free Cash Flow	2,612	3,772	8,617	-6,011	2,708
Unlevered Free Cash Flow	2,723	3,899	8,803	-5,890	2,846
Change in Working Capital	37.87	834.45	5,733	-11,539	-6,123

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