SHA:603459 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
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
Net Income	555.39	539.85	213.91	104.93	140.66
Depreciation & Amortization	269.96	269.96	234.26	211.2	186.55
Other Amortization	11.3	11.3	8.74	7.08	5.52
Loss (Gain) From Sale of Assets	-5.01	-5.01	1.76	1.09	-2.11
Asset Writedown & Restructuring Costs	12.75	12.75	15.19	16.09	15.56
Loss (Gain) From Sale of Investments	-0.59	-0.59	-0.84	-1.12	-3.09
Provision & Write-off of Bad Debts	13.06	13.06	7.81	6.66	-7.78
Other Operating Activities	-42.37	61.99	33.63	44.28	39.28
Change in Accounts Receivable	-382.22	-382.22	-165.87	-16.97	23.95
Change in Inventory	-139.34	-139.34	-37.38	-12.15	77.34
Change in Accounts Payable	385.63	385.63	129.84	209.46	46.68
Change in Other Net Operating Assets	13.63	13.63	6.68	6.74	6.85
Operating Cash Flow	749.8	838.62	471.47	578.42	533.48
Operating Cash Flow Growth	40.55%	77.87%	-18.49%	8.42%	-
Capital Expenditures	-978.6	-959.16	-404.88	-339.5	-357.61
Sale of Property, Plant & Equipment	3.5	3.5	2.95	2.4	1.87
Other Investing Activities	0.67	0.59	0.84	1.12	3.09
Investing Cash Flow	-974.43	-955.07	-401.09	-335.98	-352.66
Long-Term Debt Issued	-	828.97	562.19	457.64	903.96
Long-Term Debt Repaid	-	-531.89	-471.96	-695.19	-631.87
Net Debt Issued (Repaid)	357.97	297.08	90.23	-237.55	272.09
Common Dividends Paid	-25.94	-25.25	-20.42	-102.89	-263.06
Other Financing Activities	-27.41	-23.21	-13.03	-8.14	-158.98
Financing Cash Flow	304.62	248.62	56.78	-348.58	-149.95
Foreign Exchange Rate Adjustments	-7.98	-5.55	-1.41	0.83	-5.16
Net Cash Flow	72	126.62	125.75	-105.31	25.72
Free Cash Flow	-228.8	-120.54	66.59	238.92	175.87
Free Cash Flow Growth	-	-	-72.13%	35.85%	-
Free Cash Flow Margin	-5.94%	-3.28%	2.46%	10.21%	7.98%
Free Cash Flow Per Share	-0.35	-0.18	0.10	0.36	0.28
Cash Income Tax Paid	91.73	91.73	15.09	21.05	-11.85
Levered Free Cash Flow	-	-535.35	-59.3	96.99	-
Unlevered Free Cash Flow	-	-520.26	-45.96	116.67	-
Change in Working Capital	-64.7	-64.7	-42.99	188.22	158.89

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