SHA:603519 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	156.6	158.99	639.82	564.58	109.85
Depreciation & Amortization	9.77	9.99	10.28	13.29	14.82
Other Amortization	-	0.03	-	-	-
Loss (Gain) From Sale of Assets	-0.02	-0.31	-0.05	-	-0.01
Asset Writedown & Restructuring Costs	0.01	0	-	-	0.03
Loss (Gain) From Sale of Investments	-3.58	-4.6	-625.94	-532.27	4.56
Provision & Write-off of Bad Debts	-	1.14	5.05	-1.04	-3.24
Other Operating Activities	0.88	-6.59	-1.25	-6.43	3.5
Change in Accounts Receivable	-59.51	167.34	-38.25	-34.13	144.09
Change in Inventory	25.38	-39.2	-5.82	45.01	-12.57
Change in Accounts Payable	124.8	-186.87	152.7	11.76	-193.43
Change in Other Net Operating Assets	-0.24	-0.24	-0.24	-0.32	-0.36
Operating Cash Flow	255.94	98.32	56.49	139.93	67.63
Operating Cash Flow Growth	160.31%	74.05%	-59.63%	106.91%	-45.78%
Capital Expenditures	-4.7	-1.36	-7.31	-0.62	-8.54
Sale of Property, Plant & Equipment	0.11	0.43	0.06	-	0.05
Investment in Securities	41.85	-218.72	61.72	-	-46.5
Other Investing Activities	224.66	8.08	983.79	0.59	0.04
Investing Cash Flow	261.92	-211.56	1,038	-0.04	-54.95
Short-Term Debt Issued	-	290	30	-	-
Long-Term Debt Issued	40	-	-	-	-
Total Debt Issued	40	290	30	-	-
Short-Term Debt Repaid	-	-320.34	-	-	-
Long-Term Debt Repaid	-40	-	-	-	-
Total Debt Repaid	-40	-320.34	-	-	-
Net Debt Issued (Repaid)	-	-30.34	30	-	-
Repurchase of Common Stock	-	-20.42	-11.32	-	-
Common Dividends Paid	-264.07	-264.53	-452.79	-106.53	-44.39
Financing Cash Flow	-264.07	-315.28	-434.12	-106.53	-44.39
Foreign Exchange Rate Adjustments	1.97	6.46	-0.34	6.68	-2.81
Net Cash Flow	255.76	-422.07	660.31	40.04	-34.52
Free Cash Flow	251.24	96.97	49.18	139.31	59.08
Free Cash Flow Growth	159.11%	97.16%	-64.70%	135.78%	-47.73%
Free Cash Flow Margin	14.88%	5.67%	3.23%	9.84%	3.72%
Free Cash Flow Per Share	0.95	0.37	0.18	0.52	0.22
Cash Income Tax Paid	78.76	62.83	34.96	50.01	-4.27
Levered Free Cash Flow	210.84	42.36	-12.33	100.18	-77.6
Unlevered Free Cash Flow	210.84	42.81	-12.24	100.18	-77.6
Change in Working Capital	92.27	-60.33	28.58	101.81	-61.88

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