SHA:601890 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	300.06	281.93	236.51	149.02	121.17	87.16
Depreciation & Amortization	79.74	79.74	75.94	73.47	72.98	70.42
Other Amortization	0.01	0.01	0.04	0.09	0.09	0.08
Loss (Gain) From Sale of Assets	0.08	0.08	14.75	0.08	1.34	-0.05
Loss (Gain) From Sale of Investments	-45.71	-45.71	-53.53	-11.8	-24.2	-38.61
Provision & Write-off of Bad Debts	7.25	7.25	8.62	8.64	-5.41	-4.77
Other Operating Activities	31.61	43.24	45.68	10.42	29.14	42.41
Change in Accounts Receivable	111.54	111.54	69.19	-167.32	-54.13	-19.48
Change in Inventory	27.02	27.02	-135.26	-131.52	-84.12	-68.05
Change in Accounts Payable	-341.25	-341.25	-13.69	259.74	8.54	87.53
Operating Cash Flow	169.47	162.97	248.34	179.74	65.79	156.8
Operating Cash Flow Growth	-9.38%	-34.38%	38.16%	173.21%	-58.04%	34.15%
Capital Expenditures	-114.55	-100.41	-116.28	-19.39	-27.74	-28.42
Sale of Property, Plant & Equipment	0.44	0.4	0.28	0	1.4	0.24
Investment in Securities	-626.51	-413	83.43	-341.66	61.28	865
Other Investing Activities	463.98	57.86	-0.07	-7.82	13.37	-792.48
Investing Cash Flow	-276.64	-455.14	-32.64	-368.87	48.3	44.33
Long-Term Debt Issued	-	286.06	450	125	300	-
Total Debt Issued	730.35	286.06	450	125	300	-
Long-Term Debt Repaid	-	-4.06	-426	-	-300	-
Total Debt Repaid	-571.66	-4.06	-426	-	-300	-
Net Debt Issued (Repaid)	158.69	282	24	125	-	-
Common Dividends Paid	-151.16	-116.4	-61.19	-48.5	-39.57	-28.78
Other Financing Activities	-78.53	-14	70.15	-	-	-11.24
Financing Cash Flow	-71	151.6	32.96	76.5	-39.57	-40.02
Foreign Exchange Rate Adjustments	2.74	10.06	-9.85	22.74	-3.23	-14.53
Net Cash Flow	-175.44	-130.52	238.81	-89.88	71.29	146.59
Free Cash Flow	54.92	62.56	132.06	160.35	38.05	128.38
Free Cash Flow Growth	-47.80%	-52.63%	-17.64%	321.40%	-70.36%	-
Free Cash Flow Margin	2.66%	3.15%	6.84%	10.57%	2.88%	11.58%
Free Cash Flow Per Share	0.06	0.07	0.14	0.17	0.04	0.13
Cash Interest Paid	-	-	-	-	-	11.24
Cash Income Tax Paid	12.64	53.56	27.99	-9.81	19.24	-4.97
Levered Free Cash Flow	-9.44	-25.21	-34.15	183.12	-27.48	96.58
Unlevered Free Cash Flow	1.31	-15.25	-25.88	189.49	-20.75	103.61
Change in Working Capital	-203.57	-203.57	-79.67	-50.18	-129.33	0.16

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.