SHA:603101 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	76.93	58.36	161.52	-156.71	52.44
Depreciation & Amortization	170.27	174.91	175.21	167.91	167.98
Other Amortization	65.14	144.26	96.42	94.42	98.47
Loss (Gain) From Sale of Assets	-5.61	-17.56	-16.72	0.75	0.21
Asset Writedown & Restructuring Costs	8.68	0.04	0.26	136.98	-0.17
Loss (Gain) From Sale of Investments	-0.03	-0.62	-10.25	0.08	0.98
Provision & Write-off of Bad Debts	-	0.77	1.59	3.29	1.83
Other Operating Activities	72.08	67.3	82.02	81.37	79.7
Change in Accounts Receivable	-38.14	22.47	-60.54	-2.46	-79.13
Change in Inventory	-16.37	-53.37	31.37	-19.18	-49.7
Change in Accounts Payable	136.62	30.23	11.81	-176.64	107.21
Operating Cash Flow	465.89	424.76	468.16	130.29	382.11
Operating Cash Flow Growth	9.68%	-9.27%	259.31%	-65.90%	200.84%
Capital Expenditures	-556.6	-417.22	-305.42	-233.76	-319.58
Sale of Property, Plant & Equipment	0.29	-	-	0.05	0.06
Divestitures	-	0.11	0.08	-1.29	-
Investment in Securities	-0.5	-	73	-	-
Other Investing Activities	0.03	-	-	-	0.06
Investing Cash Flow	-556.78	-417.11	-232.34	-235	-319.46
Long-Term Debt Issued	1,332	1,210	869.74	915.3	740.62
Long-Term Debt Repaid	-1,062	-988.64	-1,131	-871.19	-1,043
Net Debt Issued (Repaid)	269.89	221.05	-260.83	44.11	-301.97
Issuance of Common Stock	3.5	-	-	-	-
Repurchase of Common Stock	-	-9.82	-	-	-
Common Dividends Paid	-84.46	-156.8	-41.25	-43.87	-44.01
Other Financing Activities	-110.22	15.64	23.34	-	40.92
Financing Cash Flow	78.7	70.08	-278.75	0.24	-305.06
Net Cash Flow	-12.19	77.73	-42.93	-104.47	-242.4
Free Cash Flow	-90.71	7.54	162.74	-103.47	62.53
Free Cash Flow Growth	-	-95.37%	-	-	-
Free Cash Flow Margin	-3.70%	0.31%	6.53%	-5.42%	2.61%
Free Cash Flow Per Share	-0.19	0.02	0.35	-0.22	0.13
Cash Income Tax Paid	168.56	189.31	214.32	106.51	156.9
Levered Free Cash Flow	-357.1	118.46	113.66	-27.11	-98.03
Unlevered Free Cash Flow	-357.1	153.64	151.73	14.45	-53.05
Change in Working Capital	78.44	-2.69	-21.89	-197.79	-19.34

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