SHA:603014 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	482.31	449.37	442.07	314.96	259.82
Depreciation & Amortization	248.33	240	238.25	238.3	201.41
Other Amortization	3.36	5.51	7.03	6.61	5.33
Loss (Gain) From Sale of Assets	-0.02	-0.2	-0.09	0.01	-0.01
Asset Writedown & Restructuring Costs	8.13	11.06	6.2	5.61	5.62
Loss (Gain) From Sale of Investments	-31.03	-0.22	-0.11	-	-15.86
Stock-Based Compensation	-	10.97	27.11	52.96	71.02
Provision & Write-off of Bad Debts	-	38.71	19.3	25.37	-0.03
Other Operating Activities	-0.85	-35.12	-25.78	-9.88	46.71
Change in Accounts Receivable	22.55	-120.61	27.5	-188.05	-222.91
Change in Inventory	-73.81	142.77	-262.4	-117.45	-101.94
Change in Accounts Payable	133.83	-170.24	-196.98	413.24	257.92
Change in Other Net Operating Assets	1.96	-	-	-	-
Operating Cash Flow	793.71	572.3	288.14	727.33	504.89
Operating Cash Flow Growth	38.69%	98.62%	-60.38%	44.06%	-
Capital Expenditures	-159.85	-179.3	-232.81	-279.8	-401.25
Sale of Property, Plant & Equipment	0.31	3.88	6.87	8.1	16.88
Investment in Securities	-1,363	-259.91	37.54	10.2	5.58
Other Investing Activities	30.94	56	0.89	19.47	0.15
Investing Cash Flow	-1,492	-379.34	-187.51	-242.03	-378.63
Short-Term Debt Issued	-	3.18	6.64	480.07	677.95
Total Debt Issued	-	3.18	6.64	480.07	677.95
Short-Term Debt Repaid	-	-	-41.8	-1,238	-765.02
Long-Term Debt Repaid	-	-8.26	-7.48	-82.69	-
Total Debt Repaid	-	-8.26	-49.28	-1,321	-765.02
Net Debt Issued (Repaid)	-	-5.08	-42.63	-840.82	-87.08
Issuance of Common Stock	1,216	-	-	624.21	-
Common Dividends Paid	-65.83	-	-0.49	-18.84	-42.71
Other Financing Activities	-106.98	-10.36	-4.23	13.33	-116.19
Financing Cash Flow	1,043	-15.44	-47.35	-222.11	-245.97
Foreign Exchange Rate Adjustments	0.19	-0.51	0.84	3.26	-0.9
Net Cash Flow	345.14	177.02	54.11	266.45	-120.61
Free Cash Flow	633.86	393	55.33	447.53	103.64
Free Cash Flow Growth	61.29%	610.28%	-87.64%	331.80%	-
Free Cash Flow Margin	16.82%	10.90%	1.57%	13.06%	3.56%
Free Cash Flow Per Share	1.60	1.06	0.15	1.23	0.29
Cash Income Tax Paid	318.55	343.06	302.29	203.49	265.76
Levered Free Cash Flow	503.41	354.35	95.24	266.53	-
Unlevered Free Cash Flow	503.41	354.72	95.77	277.99	-
Change in Working Capital	83.49	-147.78	-425.84	93.38	-69.13

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