SHA:603055 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	539.89	725.72	449.11	268.68	463.71
Depreciation & Amortization	509.72	440.67	353.73	327.49	302.14
Other Amortization	5.96	8.48	7.84	5.1	3.66
Loss (Gain) From Sale of Assets	-14.61	0.75	1.23	-0.86	0.22
Asset Writedown & Restructuring Costs	155.27	1	0.95	0.83	58.28
Loss (Gain) From Sale of Investments	-6.67	7.26	37.93	-3.37	-6.1
Provision & Write-off of Bad Debts	-	12.85	2.01	2.93	-0.04
Other Operating Activities	129.94	278.07	146.85	123.96	41.24
Change in Accounts Receivable	485.35	-477.65	-986.06	36.66	-508.85
Change in Inventory	16.96	-525.32	-466.14	-295.31	-542.05
Change in Accounts Payable	-585.53	238.42	773.26	140.57	535.47
Change in Other Net Operating Assets	2.68	0.49	0.1	6.1	4.91
Operating Cash Flow	1,228	706.43	303.41	595.13	353.73
Operating Cash Flow Growth	73.89%	132.83%	-49.02%	68.24%	-27.26%
Capital Expenditures	-856.74	-670.41	-1,772	-1,123	-507.75
Sale of Property, Plant & Equipment	7.45	4.21	3.84	2.31	6.3
Investment in Securities	-47.57	-	60	24.04	41.25
Other Investing Activities	-6.24	-15.84	-21.81	9.16	5.74
Investing Cash Flow	-903.1	-682.04	-1,730	-1,088	-454.46
Long-Term Debt Issued	3,495	2,401	2,760	1,512	572.69
Total Debt Issued	3,495	2,401	2,760	1,512	572.69
Long-Term Debt Repaid	-3,443	-1,836	-937.77	-823.76	-314.6
Total Debt Repaid	-3,443	-1,836	-937.77	-823.76	-314.6
Net Debt Issued (Repaid)	52.76	565.96	1,823	687.97	258.09
Issuance of Common Stock	-	77.32	-	5.7	20.35
Repurchase of Common Stock	-	-50.75	-10.34	-0.4	-
Common Dividends Paid	-342.25	-272.7	-171.08	-190.79	-88.63
Other Financing Activities	-172.33	-110.45	-62.17	-	-
Financing Cash Flow	-461.82	209.39	1,579	502.47	189.8
Foreign Exchange Rate Adjustments	-1.36	5.5	1.43	5.18	-1.52
Net Cash Flow	-137.92	239.27	153.91	15.25	87.56
Free Cash Flow	371.63	36.02	-1,469	-527.91	-154.02
Free Cash Flow Growth	931.70%	-	-	-	-
Free Cash Flow Margin	5.80%	0.51%	-28.83%	-13.17%	-3.62%
Free Cash Flow Per Share	0.42	0.04	-1.64	-0.61	-0.18
Cash Income Tax Paid	191.21	76.95	-26.99	101.42	29.9
Levered Free Cash Flow	-232.59	-571.76	-1,549	-363.96	-356.98
Unlevered Free Cash Flow	-232.59	-479.89	-1,495	-312.37	-315.63
Change in Working Capital	-91.14	-768.37	-696.25	-129.62	-509.39

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