SHA:603101 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	84.49	76.93	58.36	161.52	-156.71	52.44
Depreciation & Amortization	170.27	170.27	174.91	175.21	167.91	167.98
Other Amortization	65.14	65.14	144.26	96.42	94.42	98.47
Loss (Gain) From Sale of Assets	-5.61	-5.61	-17.56	-16.72	0.75	0.21
Asset Writedown & Restructuring Costs	8.68	8.68	0.04	0.26	136.98	-0.17
Loss (Gain) From Sale of Investments	-0.03	-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	160.2	72.08	67.3	82.02	81.37	79.7
Change in Accounts Receivable	-38.14	-38.14	22.47	-60.54	-2.46	-79.13
Change in Inventory	-16.37	-16.37	-53.37	31.37	-19.18	-49.7
Change in Accounts Payable	136.62	136.62	30.23	11.81	-176.64	107.21
Operating Cash Flow	561.57	465.89	424.76	468.16	130.29	382.11
Operating Cash Flow Growth	40.42%	9.68%	-9.27%	259.31%	-65.90%	200.84%
Capital Expenditures	-137.35	-556.6	-417.22	-305.42	-233.76	-319.58
Sale of Property, Plant & Equipment	0.63	0.29	-	-	0.05	0.06
Divestitures	-	-	0.11	0.08	-1.29	-
Investment in Securities	-0.85	-0.5	-	73	-	-
Other Investing Activities	0.03	0.03	-	-	-	0.06
Investing Cash Flow	-137.54	-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)	-144.11	269.89	221.05	-260.83	44.11	-301.97
Issuance of Common Stock	3.5	3.5	-	-	-	-
Repurchase of Common Stock	-	-	-9.82	-	-	-
Common Dividends Paid	-116.11	-84.46	-156.8	-41.25	-43.87	-44.01
Other Financing Activities	-90.53	-110.22	15.64	23.34	-	40.92
Financing Cash Flow	-347.26	78.7	70.08	-278.75	0.24	-305.06
Net Cash Flow	76.78	-12.19	77.73	-42.93	-104.47	-242.4
Free Cash Flow	424.23	-90.71	7.54	162.74	-103.47	62.53
Free Cash Flow Growth	-	-	-95.37%	-	-	-
Free Cash Flow Margin	17.08%	-3.70%	0.31%	6.53%	-5.42%	2.61%
Free Cash Flow Per Share	0.91	-0.19	0.02	0.35	-0.22	0.13
Cash Income Tax Paid	167.78	168.56	189.31	214.32	106.51	156.9
Levered Free Cash Flow	271.26	-357.1	118.46	113.66	-27.11	-98.03
Unlevered Free Cash Flow	271.26	-357.1	153.64	151.73	14.45	-53.05
Change in Working Capital	78.44	78.44	-2.69	-21.89	-197.79	-19.34

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