SHA:603202 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	807.89	921.26	1,136	842.1	396.74	114.16
Depreciation & Amortization	84.78	84.78	60.05	41.46	32.23	30.94
Other Amortization	26.54	26.54	31.15	15.78	12.36	7.85
Loss (Gain) From Sale of Assets	0.78	0.78	-0.14	-0.02	0.02	0.16
Asset Writedown & Restructuring Costs	7.37	7.37	0.88	-0.99	3.94	2.47
Loss (Gain) From Sale of Investments	-0.14	-0.14	-2.22	-4.39	5.78	5.72
Provision & Write-off of Bad Debts	-	-	21.65	22.72	29.97	-4.9
Other Operating Activities	-180.28	31.42	17.83	22.22	25.66	26.23
Change in Accounts Receivable	-586.19	-586.19	-219.3	-573.64	-631.71	78.98
Change in Inventory	-129.02	-129.02	-130.62	-91.47	-255.58	-1.25
Change in Accounts Payable	711.59	711.59	152.28	286.71	480.38	-102.7
Operating Cash Flow	742.42	1,067	1,057	545.32	101.45	148.18
Operating Cash Flow Growth	-41.79%	1.02%	93.77%	437.53%	-31.53%	-
Capital Expenditures	-457.52	-420.76	-285.5	-69.41	-141.81	-62.4
Sale of Property, Plant & Equipment	0.81	0.66	1.05	0	1.99	0.12
Investment in Securities	-3,136	-2,256	-862.01	-	-6.63	-
Other Investing Activities	6.67	3.52	3.3	4.8	6	7.8
Investing Cash Flow	-3,586	-2,672	-1,143	-64.6	-140.46	-54.49
Long-Term Debt Issued	-	122	-	294.48	529.45	271.3
Long-Term Debt Repaid	-	-108	-204.38	-290.24	-611.92	-184.73
Net Debt Issued (Repaid)	-149	14	-204.38	4.24	-82.47	86.57
Issuance of Common Stock	3,567	3,567	-	-	111.5	-
Common Dividends Paid	-565.12	-566.01	-11.3	-59.05	-24.8	-77.36
Other Financing Activities	-47	-46.65	-5.89	-16.15	-37.82	23.66
Financing Cash Flow	2,806	2,969	-221.57	-70.96	-33.59	32.88
Foreign Exchange Rate Adjustments	-88.59	-47.87	17.74	6.54	9.57	-1.28
Net Cash Flow	-126.48	1,316	-290.31	416.3	-63.03	125.29
Free Cash Flow	284.9	646.73	771.17	475.91	-40.36	85.77
Free Cash Flow Growth	-69.61%	-16.14%	62.04%	-	-	-
Free Cash Flow Margin	7.58%	16.18%	17.27%	13.85%	-2.05%	7.35%
Free Cash Flow Per Share	1.82	4.41	6.43	3.97	-0.34	-
Cash Income Tax Paid	3.85	50.94	153.01	92.87	104.12	2.59
Levered Free Cash Flow	-1,331	-469.13	653.05	411.13	-85.05	-34.44
Unlevered Free Cash Flow	-1,331	-469.13	663.42	421.75	-73.1	-18.17
Change in Working Capital	-4.52	-4.52	-209.01	-393.57	-405.26	-34.46

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