SHA:603026 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	15.9	16.42	18.73	890.6	1,178
Depreciation & Amortization	464.27	286.9	236.25	169.71	166.95
Other Amortization	0.12	0.12	3.09	10.46	0.09
Loss (Gain) From Sale of Assets	-1.74	-0.15	-	-6.11	-
Asset Writedown & Restructuring Costs	1.51	-3.23	4.84	-24.37	64.07
Loss (Gain) From Sale of Investments	25.35	8.06	9.22	12.85	-10.81
Provision & Write-off of Bad Debts	-1.47	7.41	0	-	-
Other Operating Activities	48.97	-27.53	-36.84	42.21	123.98
Change in Accounts Receivable	-1,474	-1,261	-372.71	-347.21	-828.39
Change in Inventory	-82.06	-190.6	-37.33	-172.88	144.61
Change in Accounts Payable	-244.15	791.13	-250.16	254.56	115.71
Change in Other Net Operating Assets	-	-6.93	-4.85	-	-
Operating Cash Flow	-1,290	-447.61	-432.45	847.79	959.63
Operating Cash Flow Growth	-	-	-	-11.65%	20.95%
Capital Expenditures	-168.72	-556.28	-817.28	-720.2	-424.29
Sale of Property, Plant & Equipment	3.59	1.91	5.96	39.99	89.75
Cash Acquisitions	-	-	-	-39.94	-
Investment in Securities	-226.34	-1,180	50.77	75.85	-41.83
Other Investing Activities	5.48	1.82	-14.89	0.19	4.9
Investing Cash Flow	-385.99	-1,733	-775.44	-644.11	-371.46
Long-Term Debt Issued	4,000	2,422	997.38	278.09	105.1
Total Debt Issued	4,000	2,422	997.38	278.09	105.1
Long-Term Debt Repaid	-2,722	-621.72	-308.42	-179.93	-282.41
Total Debt Repaid	-2,722	-621.72	-308.42	-179.93	-282.41
Net Debt Issued (Repaid)	1,278	1,801	688.96	98.16	-177.31
Issuance of Common Stock	990	-	-	-	-
Common Dividends Paid	-72.97	-78.22	-84.62	-89.29	-124.19
Other Financing Activities	-276.83	22.35	71.55	53.59	38.47
Financing Cash Flow	1,918	1,745	675.89	62.47	-263.04
Foreign Exchange Rate Adjustments	-1.02	-0.42	-9.99	48.02	-9.62
Net Cash Flow	240.84	-435.73	-541.99	314.16	315.51
Free Cash Flow	-1,459	-1,004	-1,250	127.59	535.34
Free Cash Flow Growth	-	-	-	-76.17%	-3.81%
Free Cash Flow Margin	-21.43%	-18.10%	-22.18%	1.53%	7.59%
Free Cash Flow Per Share	-6.42	-4.89	-6.01	0.63	2.64
Cash Income Tax Paid	-173.42	-191.44	-380.26	185.02	259.54
Levered Free Cash Flow	-1,320	-745.41	101.11	450.69	379.31
Unlevered Free Cash Flow	-1,273	-712.32	116.89	456.32	381.02
Change in Working Capital	-1,843	-735.61	-667.73	-247.57	-563.06

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