SHA:603311 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	78.49	65.04	49.2	75.62	71.5
Depreciation & Amortization	43.95	42.25	41.89	36.43	37.57
Other Amortization	4.42	5.5	4.5	4.59	3.84
Loss (Gain) From Sale of Assets	-25.66	-5.04	0.24	-0.08	-0.13
Asset Writedown & Restructuring Costs	7.64	0.53	7.49	-	0.5
Loss (Gain) From Sale of Investments	-4.11	-2.34	-1.68	-20.49	-1.19
Provision & Write-off of Bad Debts	-	1.02	-0.26	-0.75	-0.33
Other Operating Activities	4.2	9.77	6.43	7.15	12.36
Change in Accounts Receivable	0.86	-41.72	70.64	-53.58	-55.34
Change in Inventory	10.72	-29.46	29.47	10.93	-36.31
Change in Accounts Payable	6.98	36.42	-90.09	115.03	37.26
Operating Cash Flow	128.98	76.69	115.23	174.89	69.27
Operating Cash Flow Growth	68.18%	-33.44%	-34.11%	152.47%	-54.89%
Capital Expenditures	-31.1	-33.66	-109.42	-76.15	-75.53
Sale of Property, Plant & Equipment	71.97	37.09	0.14	0.41	0.92
Divestitures	-	-	-	24.15	-
Investment in Securities	-46.1	-304.94	-100	-12	-55.48
Other Investing Activities	4.22	4.72	2.98	0.18	1.39
Investing Cash Flow	-1.01	-296.78	-206.3	-63.41	-128.7
Long-Term Debt Issued	181.98	175	230	253.98	264.27
Total Debt Issued	181.98	175	230	253.98	264.27
Long-Term Debt Repaid	-166.49	-187.95	-253.27	-294.62	-226.86
Total Debt Repaid	-166.49	-187.95	-253.27	-294.62	-226.86
Net Debt Issued (Repaid)	15.49	-12.95	-23.27	-40.64	37.41
Issuance of Common Stock	-	-	-	306.51	-
Common Dividends Paid	-31.74	-23.39	-35.42	-32.71	-48.46
Other Financing Activities	-49.32	6.64	11.05	-4.17	2.7
Financing Cash Flow	-65.56	-29.71	-47.64	228.99	-8.35
Foreign Exchange Rate Adjustments	0.92	-1.8	3.05	5.4	-5.58
Net Cash Flow	63.32	-251.59	-135.67	345.87	-73.36
Free Cash Flow	97.88	43.03	5.81	98.74	-6.26
Free Cash Flow Growth	127.45%	641.16%	-94.12%	-	-
Free Cash Flow Margin	11.44%	5.46%	0.80%	12.51%	-0.83%
Free Cash Flow Per Share	0.41	0.18	0.03	0.47	-0.03
Cash Income Tax Paid	10.75	26.65	30.71	16.89	34.14
Levered Free Cash Flow	-154.99	-2.55	-20.73	36.91	-22.34
Unlevered Free Cash Flow	-154.99	0.16	-16.73	41.97	-18.21
Change in Working Capital	20.04	-40.03	7.41	72.43	-54.86

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