SHA:603165 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	208.48	286.35	270.67	168.13	284.42	231.92
Depreciation & Amortization	99.11	99.11	96.67	85.76	74.41	64.47
Other Amortization	0.5	0.5	-	-	-	-
Loss (Gain) From Sale of Assets	0.09	0.09	0.08	-0.47	1.69	-0.36
Asset Writedown & Restructuring Costs	1.32	1.32	-	-	-	-
Loss (Gain) From Sale of Investments	-43.9	-43.9	-6.5	-24.89	-38.93	-17.08
Provision & Write-off of Bad Debts	7.06	7.06	0.89	0.34	3.2	-
Other Operating Activities	-306.19	64.39	26.36	12.26	17.75	20.61
Change in Accounts Receivable	-919.4	-919.4	-188.89	27.45	-155.41	-64.91
Change in Inventory	-8.78	-8.78	12.34	22.63	-42.69	6.05
Change in Accounts Payable	617.6	617.6	42.27	-48.65	-26.78	-7.94
Operating Cash Flow	-337.14	111.3	250.96	257.04	101.52	230.02
Operating Cash Flow Growth	-	-55.65%	-2.36%	153.19%	-55.86%	-45.98%
Capital Expenditures	-78.76	-70.48	-73.19	-138.23	-94.17	-187.9
Sale of Property, Plant & Equipment	0.21	0.59	0.83	0.99	1.11	2.19
Investment in Securities	-1,683	-434.3	-651.68	631.49	-407.5	-95.7
Other Investing Activities	5.74	2.36	1.65	32.11	14.35	-
Investing Cash Flow	-1,756	-501.84	-722.4	526.36	-486.21	-281.41
Short-Term Debt Issued	-	3,448	1,392	854.48	374.1	19.79
Total Debt Issued	3,101	3,448	1,392	854.48	374.1	19.79
Short-Term Debt Repaid	-	-2,425	-401.34	-908.95	-90.27	-19.79
Long-Term Debt Repaid	-	-0.71	-0.08	-0.14	-0.14	-
Total Debt Repaid	-2,170	-2,426	-401.42	-909.08	-90.41	-19.79
Net Debt Issued (Repaid)	930.06	1,022	990.9	-54.6	283.7	-
Repurchase of Common Stock	-65.81	-65.81	-	-104.92	-	-
Common Dividends Paid	-164	-168.66	-137.7	-104.56	-186	-76.6
Other Financing Activities	-14.79	-0.5	-1.93	-0.37	-	-0.5
Financing Cash Flow	685.46	787.36	851.27	-264.45	97.69	-77.1
Foreign Exchange Rate Adjustments	-0	-0	0.01	-	-	-
Net Cash Flow	-1,408	396.82	379.85	518.95	-287	-128.49
Free Cash Flow	-415.9	40.82	177.77	118.81	7.35	42.12
Free Cash Flow Growth	-	-77.04%	49.63%	1516.94%	-82.56%	-87.86%
Free Cash Flow Margin	-19.06%	1.83%	7.76%	4.64%	0.30%	2.48%
Free Cash Flow Per Share	-1.52	0.14	0.66	0.45	0.03	0.17
Cash Income Tax Paid	67.36	44.28	78.44	83.62	47.42	31.26
Levered Free Cash Flow	224.74	154.41	227.29	4.8	-27.16	-10.39
Unlevered Free Cash Flow	267.47	196.69	243.7	16.77	-15.31	1.74
Change in Working Capital	-303.63	-303.63	-137.19	15.9	-241.02	-69.51

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.