SHA:603267 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	249.2	153.74	272.33	804.62	826.74
Depreciation & Amortization	82.92	71.32	64.55	53.54	34.17
Other Amortization	5.9	9.64	6.74	3.52	1.76
Loss (Gain) From Sale of Assets	-0.03	2.19	-0.31	-0	-1.7
Asset Writedown & Restructuring Costs	39.18	-0.15	1.08	0.16	0.03
Loss (Gain) From Sale of Investments	-8.54	-55.38	-1.99	-0.96	-0.99
Provision & Write-off of Bad Debts	-	20.78	14.44	16.06	7.44
Other Operating Activities	35.5	47.39	45.77	29.1	10.24
Change in Accounts Receivable	-290.29	219.7	451.77	-354.99	-413.25
Change in Inventory	-38.52	-21.57	-185.82	-264.52	-201.73
Change in Accounts Payable	95.76	10.57	-191.34	61.98	258.93
Change in Other Net Operating Assets	-	-	-7.88	8.83	18.94
Operating Cash Flow	158.25	458.61	463.21	357.47	532.78
Operating Cash Flow Growth	-65.49%	-0.99%	29.58%	-32.91%	247.82%
Capital Expenditures	-85.16	-98.54	-90.02	-228.72	-227.3
Sale of Property, Plant & Equipment	0.14	1.48	0.51	-	2.73
Cash Acquisitions	-0.25	-18.82	-	-	-
Investment in Securities	-80.01	-391.12	-110	-43	-121.5
Other Investing Activities	12.48	21.79	3.82	6.1	1.48
Investing Cash Flow	-152.81	-485.21	-195.69	-265.61	-344.6
Short-Term Debt Issued	-	-	-	-	306.34
Long-Term Debt Issued	268.48	379.21	636.52	589.31	-
Total Debt Issued	268.48	379.21	636.52	589.31	306.34
Short-Term Debt Repaid	-	-	-	-	-147
Long-Term Debt Repaid	-286.7	-694.75	-607.25	-316.83	-2.99
Total Debt Repaid	-286.7	-694.75	-607.25	-316.83	-149.99
Net Debt Issued (Repaid)	-18.22	-315.54	29.27	272.48	156.35
Issuance of Common Stock	-	-	-	-	56.92
Repurchase of Common Stock	-	-32.5	-21.59	-53.74	-38.26
Common Dividends Paid	-67.15	-89.15	-101.15	-105.59	-94.17
Other Financing Activities	-7.83	-0.2	16.55	-16.44	-
Financing Cash Flow	-93.2	-437.39	-76.91	96.72	80.84
Foreign Exchange Rate Adjustments	-0.04	0.03	0.03	0.16	-0.03
Net Cash Flow	-87.8	-463.96	190.64	188.73	269
Free Cash Flow	73.09	360.07	373.19	128.75	305.48
Free Cash Flow Growth	-79.70%	-3.52%	189.85%	-57.85%	-
Free Cash Flow Margin	4.07%	24.14%	22.27%	5.15%	12.71%
Free Cash Flow Per Share	0.32	1.57	1.62	0.56	1.32
Cash Income Tax Paid	185.4	87.16	158.7	290.15	289.72
Levered Free Cash Flow	115.2	295.15	237.26	-160.44	81.54
Unlevered Free Cash Flow	115.2	303.52	252.06	-147.32	93.7
Change in Working Capital	-245.89	209.08	60.61	-548.59	-344.9

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