CIG Shanghai 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	263.49	166.68	95.02	171.47	67.26
Depreciation & Amortization	158.88	283.67	282.85	283.43	288.18
Other Amortization	126.04	11.29	11.27	11.02	12.19
Loss (Gain) From Sale of Assets	0.25	-2.69	0.19	0.47	-7.65
Asset Writedown & Restructuring Costs	-0.17	0.69	-	-	-
Loss (Gain) From Sale of Investments	-	-6.34	-	-	-20.52
Provision & Write-off of Bad Debts	13.36	1.63	-4.86	-25.35	13.35
Other Operating Activities	144.02	42.65	37.97	39	91.59
Change in Accounts Receivable	-987.5	-191.37	473.54	-727.83	-337.58
Change in Inventory	-732.24	-116.2	152.34	-507.49	-117.57
Change in Accounts Payable	572.36	379.12	-898.96	818	-48.38
Operating Cash Flow	-470.65	561.97	142.94	56.25	-61.95
Operating Cash Flow Growth	-	293.14%	154.10%	-	-
Capital Expenditures	-957.57	-306.58	-203.16	-179.72	-93.3
Sale of Property, Plant & Equipment	2.03	6.29	8.62	7.59	106.58
Cash Acquisitions	-	-	-	-21.51	-21.36
Divestitures	-	-	-	-	25.52
Investment in Securities	-128.74	0.06	-10	-	-3.19
Other Investing Activities	-	6.28	-	-	-
Investing Cash Flow	-1,084	-293.95	-204.54	-193.64	14.25
Short-Term Debt Issued	-	-	-	1,433	1,122
Long-Term Debt Issued	2,758	1,641	1,728	265.55	159.2
Total Debt Issued	2,758	1,641	1,728	1,698	1,281
Short-Term Debt Repaid	-	-	-	-1,290	-1,078
Long-Term Debt Repaid	-1,688	-1,755	-1,815	-188.02	-113.51
Total Debt Repaid	-1,688	-1,755	-1,815	-1,478	-1,192
Net Debt Issued (Repaid)	1,070	-114.86	-86.98	220.41	89.59
Issuance of Common Stock	4,951	-	85.85	59	-
Common Dividends Paid	-124.36	-85.87	-55.79	-47.64	-28.9
Other Financing Activities	-5.99	-	150	-	-
Financing Cash Flow	5,891	-200.73	93.08	231.77	60.68
Foreign Exchange Rate Adjustments	-54.23	22.08	31.79	35.01	-50.21
Net Cash Flow	4,282	89.36	63.27	129.4	-37.23
Free Cash Flow	-1,428	255.39	-60.22	-123.46	-155.26
Free Cash Flow Margin	-29.61%	6.99%	-1.95%	-3.26%	-5.32%
Free Cash Flow Per Share	-5.09	0.95	-0.23	-0.48	-0.61
Cash Income Tax Paid	-439.88	-259.26	-177.15	-280.28	-147.53
Levered Free Cash Flow	-1,630	147.8	-154.85	-100.14	-204.41
Unlevered Free Cash Flow	-1,593	180.86	-116.64	-63.95	-180.15
Change in Working Capital	-1,177	64.4	-279.49	-423.79	-506.35

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