SHA:603132 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	540.92	476.96	342.98	469.94	462.89
Depreciation & Amortization	244.74	214.46	186.56	171.26	171.15
Other Amortization	1.29	2.11	1.29	0.31	0.48
Loss (Gain) From Sale of Assets	0.41	-0.33	-0.51	-0.75	-0.01
Asset Writedown & Restructuring Costs	0.88	29.16	0.01	3.24	-1.02
Provision & Write-off of Bad Debts	-	1.57	-2.93	-	-
Other Operating Activities	142.19	102.36	65.66	73.7	117.79
Change in Accounts Receivable	-7.87	-53.91	55.83	-56.03	26.08
Change in Inventory	-148.53	-34.88	-6.41	-37.37	-42.77
Change in Accounts Payable	113.55	62.78	130.38	27.03	19.66
Change in Other Net Operating Assets	-0.97	0.71	0.35	-0.02	-0.03
Operating Cash Flow	908.83	787.4	757.97	648.16	757.52
Operating Cash Flow Growth	15.42%	3.88%	16.94%	-14.44%	6.45%
Capital Expenditures	-1,343	-1,032	-258.55	-113.96	-92.02
Sale of Property, Plant & Equipment	3.11	1.21	1.54	1.11	0.06
Cash Acquisitions	-135	-275	-416.52	-143.77	-
Investment in Securities	-	-	-	-	220.36
Other Investing Activities	-23.55	70	-70	1.28	3.62
Investing Cash Flow	-1,498	-1,245	-743.52	-255.34	132.02
Long-Term Debt Issued	3,641	2,964	1,280	840	2,100
Long-Term Debt Repaid	-2,331	-2,096	-692.17	-1,439	-2,657
Net Debt Issued (Repaid)	1,310	868.58	587.83	-598.68	-557
Issuance of Common Stock	-	-	-	996.9	-
Common Dividends Paid	-545.41	-499.79	-356.66	-600.55	-120.71
Other Financing Activities	-467.73	52.66	-63.44	-23.95	-2
Financing Cash Flow	297.35	421.45	167.73	-226.29	-679.72
Foreign Exchange Rate Adjustments	-0	0	0	0	-0
Net Cash Flow	-292.27	-36.52	182.18	166.54	209.83
Free Cash Flow	-434.19	-244.68	499.42	534.21	665.5
Free Cash Flow Growth	-	-	-6.51%	-19.73%	16.09%
Free Cash Flow Margin	-25.19%	-15.90%	38.93%	43.10%	53.14%
Free Cash Flow Per Share	-0.44	-0.25	0.51	0.56	0.76
Cash Income Tax Paid	258.95	299.25	224.11	235.13	240.04
Levered Free Cash Flow	-226.43	-667.09	475.79	335.76	432.36
Unlevered Free Cash Flow	-226.43	-600.91	518.31	382.65	507.55
Change in Working Capital	-21.6	-38.88	164.91	-69.55	6.24

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