SHA:603230 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	174.8	338.08	314.82	267.82	228.51
Depreciation & Amortization	76.32	67.03	57.68	55.62	46.08
Other Amortization	4.63	0.88	0.04	-	-
Loss (Gain) From Sale of Assets	-0.05	-0.68	-3.49	0.01	-
Asset Writedown & Restructuring Costs	0.27	0.12	-0	0.77	0.16
Loss (Gain) From Sale of Investments	-34.17	-46.47	-20.95	-12.31	-0.1
Provision & Write-off of Bad Debts	5.73	3.18	1.55	13.16	1.73
Other Operating Activities	18.32	-1.26	5.95	1.46	4.52
Change in Accounts Receivable	61.69	-56.65	67.87	-174.7	-20.88
Change in Inventory	4.8	9.81	-11.96	46.77	-5.03
Change in Accounts Payable	-69.63	-28.89	119.93	185.12	116.59
Operating Cash Flow	242.74	285.1	531.41	383.73	371.58
Operating Cash Flow Growth	-14.86%	-46.35%	38.49%	3.27%	-0.32%
Capital Expenditures	-44.24	-443.6	-75.64	-182.35	-86.66
Sale of Property, Plant & Equipment	0.05	1.26	0.2	0.62	0.5
Investment in Securities	-217	-360	-308.23	-893.77	-
Other Investing Activities	50.83	32.86	20.92	3.45	0.02
Investing Cash Flow	-210.35	-769.48	-362.74	-1,072	-86.14
Long-Term Debt Repaid	-0.16	-0.3	-0.3	-0.25	-0.15
Net Debt Issued (Repaid)	-0.16	-0.3	-0.3	-0.25	-0.15
Issuance of Common Stock	-	-	-	-	933.89
Common Dividends Paid	-169.69	-159.09	-53.03	-22.98	-
Other Financing Activities	-	-	-	-9.67	-8.2
Financing Cash Flow	-169.85	-159.39	-53.33	-32.91	925.53
Net Cash Flow	-137.46	-643.76	115.33	-721.22	1,211
Free Cash Flow	198.5	-158.5	455.77	201.38	284.92
Free Cash Flow Growth	-	-	126.32%	-29.32%	201.99%
Free Cash Flow Margin	13.11%	-8.75%	24.77%	12.14%	17.90%
Free Cash Flow Per Share	0.56	-0.45	1.29	0.57	1.07
Cash Income Tax Paid	-28.59	73.38	12.24	14.49	24.05
Levered Free Cash Flow	139.39	-249.77	327.52	64.77	187.53
Unlevered Free Cash Flow	139.4	-249.75	327.54	64.79	187.55
Change in Working Capital	-3.1	-75.78	175.81	57.18	90.69

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