SHA:603508 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	FY 2021
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	Dec '21 Dec 31, 2021
Net Income	589.96	556.15	548.38	412.08	346.38	385.5
Depreciation & Amortization	49.19	49.19	56.6	48	48.6	48.81
Other Amortization	2.81	2.81	0.09	0.08	0.05	0.02
Loss (Gain) From Sale of Assets	1.05	1.05	0.08	0.17	-0.07	-0.03
Asset Writedown & Restructuring Costs	2.1	2.1	4.96	0.05	0.06	-
Loss (Gain) From Sale of Investments	-1.55	-1.55	-0.11	-1.82	-6.99	-7.73
Provision & Write-off of Bad Debts	-22.81	-22.81	31.78	15.83	13.41	18.64
Other Operating Activities	93.74	-12.17	-14.41	-27.12	-18.98	-35.44
Change in Accounts Receivable	82.54	82.54	-214.59	-136.2	-158.64	-356.76
Change in Inventory	-7.81	-7.81	-20.41	-38.56	-37.67	12.17
Change in Accounts Payable	17.36	17.36	48.55	27.73	28.26	-32.78
Change in Other Net Operating Assets	-	-	-	-4.87	9.01	34.09
Operating Cash Flow	811.55	671.83	438.81	287.8	226.94	65.32
Operating Cash Flow Growth	75.21%	53.10%	52.47%	26.82%	247.40%	-82.98%
Capital Expenditures	-21.54	-18.82	-41.04	-37.44	-38.27	-40.6
Sale of Property, Plant & Equipment	0.19	0.56	0.58	0.13	0.31	0.06
Divestitures	-	-	0	-	-	-
Investment in Securities	594.69	764.69	-77.65	-100.2	9.5	30.01
Other Investing Activities	-97.72	1.7	0.78	2.29	53.73	46.29
Investing Cash Flow	475.62	748.13	-117.33	-135.22	25.26	35.76
Short-Term Debt Issued	-	44.1	20.19	-	-	49.47
Total Debt Issued	44.1	44.1	20.19	-	-	49.47
Short-Term Debt Repaid	-	-	-	-	-	-49.47
Total Debt Repaid	-	-	-	-	-	-49.47
Net Debt Issued (Repaid)	44.1	44.1	20.19	-	-	-
Repurchase of Common Stock	-	-	-	-	-	-2.65
Common Dividends Paid	-1,254	-1,254	-411.74	-207.83	-231.04	-86.68
Other Financing Activities	0.16	0.2	-0.74	-0.63	-2.42	-1.04
Financing Cash Flow	-1,209	-1,209	-392.29	-208.47	-233.46	-90.37
Foreign Exchange Rate Adjustments	-	-	-	-	-	-0
Net Cash Flow	77.7	210.52	-70.81	-55.88	18.74	10.72
Free Cash Flow	790.01	653	397.77	250.36	188.67	24.73
Free Cash Flow Growth	80.12%	64.17%	58.88%	32.70%	662.97%	-92.94%
Free Cash Flow Margin	50.03%	42.97%	26.25%	21.21%	17.68%	2.32%
Free Cash Flow Per Share	2.08	1.71	1.04	0.66	0.50	0.07
Cash Income Tax Paid	226.34	236.55	186.83	123.01	103.17	97.13
Levered Free Cash Flow	686.33	571.72	278.34	162.54	72.59	-97.59
Unlevered Free Cash Flow	686.44	571.83	278.43	162.54	72.59	-97.59
Change in Working Capital	97.07	97.07	-188.57	-159.47	-155.51	-344.44

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