SHA:603075 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	322.07	299.74	250	241.53	231.61
Depreciation & Amortization	123.61	112.66	101.76	92.12	63.15
Other Amortization	1.11	2.06	0.47	0.56	0.42
Loss (Gain) From Sale of Assets	0.03	0.26	0.06	-0.02	0.64
Asset Writedown & Restructuring Costs	7.84	1.33	0.54	-0.08	9.61
Loss (Gain) From Sale of Investments	-8.97	-12.46	-1.23	-5.15	-27.27
Provision & Write-off of Bad Debts	-	4.89	6.12	-2.18	-
Other Operating Activities	4.4	4.35	3.89	0.92	33.24
Change in Accounts Receivable	-159.55	-233.57	50.71	55.25	-101.6
Change in Inventory	-32.25	-38.31	22.31	-41.79	-56.05
Change in Accounts Payable	88.02	108.96	-39.23	-67.01	61.85
Change in Other Net Operating Assets	7.78	6.24	2.48	5.83	-
Operating Cash Flow	350.97	259.92	393.14	280.33	213.05
Operating Cash Flow Growth	35.03%	-33.89%	40.24%	31.58%	-41.55%
Capital Expenditures	-115.41	-128.02	-136.01	-279.98	-337.71
Sale of Property, Plant & Equipment	0.37	0.86	1.05	3.11	1.24
Investment in Securities	112.49	-143.02	-305	-	282.41
Other Investing Activities	11.98	11.04	1.75	15.98	21.19
Investing Cash Flow	9.43	-259.14	-438.21	-260.88	-32.88
Short-Term Debt Issued	-	360	676.63	64	-
Long-Term Debt Issued	210	-	-	580	501.01
Total Debt Issued	210	360	676.63	644	501.01
Short-Term Debt Repaid	-	-360	-906.83	-60	-
Long-Term Debt Repaid	-300	-1.66	-2.41	-528.95	-520
Total Debt Repaid	-300	-361.66	-909.24	-588.95	-520
Net Debt Issued (Repaid)	-90	-1.66	-232.61	55.05	-18.99
Issuance of Common Stock	-	29.35	833.32	-	-
Common Dividends Paid	-287.51	-206.1	-123.28	-129.35	-103.09
Other Financing Activities	7.9	-	-22.73	2.5	-63.91
Financing Cash Flow	-369.61	-178.4	454.7	-71.81	-186
Foreign Exchange Rate Adjustments	8.78	7.14	15.31	28.07	-12.27
Net Cash Flow	-0.44	-170.48	424.94	-24.3	-18.09
Free Cash Flow	235.55	131.9	257.13	0.35	-124.67
Free Cash Flow Growth	78.59%	-48.70%	72745.09%	-	-
Free Cash Flow Margin	11.08%	6.86%	15.34%	0.02%	-6.92%
Free Cash Flow Per Share	0.59	0.33	0.70	0.00	-0.34
Cash Income Tax Paid	56.46	15.08	23.22	-11.82	-16.17
Levered Free Cash Flow	134	46.64	159.65	-158.73	-173.59
Unlevered Free Cash Flow	134	51.12	167.65	-145.96	-164.32
Change in Working Capital	-99.13	-158.14	33.38	-47.43	-98.36

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