SHA:603328 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	437.37	355	268.54	150.61
Depreciation & Amortization	195.48	188.19	179.6	129.18
Other Amortization	4.21	1.93	1	0.18
Loss (Gain) From Sale of Assets	-0.07	-3.73	-0.3	6.97
Asset Writedown & Restructuring Costs	9.59	25.4	34.71	20.33
Loss (Gain) From Sale of Investments	-43.19	-42.55	-20.12	7.25
Provision & Write-off of Bad Debts	5.07	0.11	-3.17	4.39
Other Operating Activities	-25.96	3.55	3.96	-8.61
Change in Accounts Receivable	-234.28	2.46	-5.81	-106.41
Change in Inventory	-114.5	31.54	52.92	-79.21
Change in Accounts Payable	100.48	144.94	39.3	163.32
Change in Other Net Operating Assets	42.7	23.09	16.64	13.82
Operating Cash Flow	364.05	721.09	566.73	292.95
Operating Cash Flow Growth	-49.51%	27.24%	93.45%	-42.54%
Capital Expenditures	-295.75	-380.43	-242.62	-517.09
Sale of Property, Plant & Equipment	5.16	5.33	6.71	14.04
Investment in Securities	237.6	-570.12	-881.56	-81.56
Other Investing Activities	18.73	5.25	2.86	0.3
Investing Cash Flow	-34.26	-939.97	-1,115	-584.31
Short-Term Debt Issued	247.96	216.39	523.89	-
Total Debt Issued	247.96	216.39	523.89	-
Short-Term Debt Repaid	-100	-299	-426.09	-
Long-Term Debt Repaid	-0.29	-	-	-
Total Debt Repaid	-100.29	-299	-426.09	-
Net Debt Issued (Repaid)	147.67	-82.61	97.81	-
Common Dividends Paid	-195.11	-151.12	-70.87	-99.84
Other Financing Activities	-0.14	2.86	10.57	19.73
Financing Cash Flow	-47.57	-230.87	37.5	-80.12
Foreign Exchange Rate Adjustments	23.63	-5.2	-3.28	-11.38
Net Cash Flow	305.84	-454.95	-513.67	-382.85
Free Cash Flow	68.3	340.66	324.1	-224.13
Free Cash Flow Growth	-79.95%	5.11%	-	-
Free Cash Flow Margin	1.95%	10.72%	10.60%	-7.71%
Free Cash Flow Per Share	0.07	0.34	0.33	-0.23
Cash Income Tax Paid	-51.96	-104.28	-154.34	-222.31
Levered Free Cash Flow	-92.18	-11.25	88.01	-166.2
Unlevered Free Cash Flow	-91	-8.58	89.72	-166.2
Change in Working Capital	-218.46	193.19	102.5	-17.35

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