SHA:603100 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	652.2	778.05	743.83	579.14	538.66
Depreciation & Amortization	88.78	87.15	80.52	67.03	60.67
Other Amortization	25.78	24.12	24.24	21.3	15.97
Loss (Gain) From Sale of Assets	0.17	-0.04	0.13	1.39	-1.33
Asset Writedown & Restructuring Costs	-7.13	2.6	0.3	0.13	0.39
Loss (Gain) From Sale of Investments	-85.9	-213.29	-210.13	-99.31	-172.21
Provision & Write-off of Bad Debts	-	26.86	14.9	16.59	29.35
Other Operating Activities	30.5	48.42	59.12	33.82	46.08
Change in Accounts Receivable	-600.43	-304.26	-195.74	-338.49	20.21
Change in Inventory	-75.47	242.12	-134.69	-173.66	-321
Change in Accounts Payable	562.17	-241.35	309.3	464.64	766.3
Change in Other Net Operating Assets	13.7	25.27	26.64	0.95	-
Operating Cash Flow	609.71	482.72	707.89	568.96	981.16
Operating Cash Flow Growth	26.31%	-31.81%	24.42%	-42.01%	73.25%
Capital Expenditures	-150.77	-83.02	-145.66	-102.73	-100.55
Sale of Property, Plant & Equipment	1.03	0.91	1.94	0.54	3.51
Cash Acquisitions	-	-11.57	-	-	-
Investment in Securities	-	-	624.82	-850	-1
Other Investing Activities	154.73	181.22	350.79	119.81	99.29
Investing Cash Flow	5	87.54	831.88	-832.38	1.26
Long-Term Debt Issued	-	-	200	517.8	130
Long-Term Debt Repaid	-85.5	-99.94	-288.86	-439.79	-328.59
Net Debt Issued (Repaid)	-85.5	-99.94	-88.86	78.01	-198.59
Issuance of Common Stock	-	-	-	41.63	-
Repurchase of Common Stock	-	-0.53	-0.05	-113.11	-
Common Dividends Paid	-301.04	-304.98	-249.5	-249.13	-136.63
Other Financing Activities	-3.39	-11.43	-	-7.04	11.2
Financing Cash Flow	-389.93	-416.89	-338.42	-249.65	-324.02
Foreign Exchange Rate Adjustments	-0.87	-3.05	3.82	2.9	-0.91
Net Cash Flow	223.91	150.32	1,205	-510.17	657.49
Free Cash Flow	458.94	399.7	562.23	466.23	880.61
Free Cash Flow Growth	14.82%	-28.91%	20.59%	-47.06%	73.94%
Free Cash Flow Margin	6.74%	5.27%	7.59%	7.32%	16.05%
Free Cash Flow Per Share	0.90	0.78	1.10	0.91	1.71
Cash Income Tax Paid	361.55	458.62	444.99	392.63	358.98
Levered Free Cash Flow	351.14	241.29	403.28	332.04	725.75
Unlevered Free Cash Flow	351.14	247.33	412.55	340.08	735.96
Change in Working Capital	-94.69	-271.17	-5.03	-51.12	463.58

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