SHA:603519 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	155.7	156.6	158.99	639.82	564.58	109.85
Depreciation & Amortization	9.74	9.74	10.02	10.28	13.29	14.82
Other Amortization	0.03	0.03	-	-	-	-
Loss (Gain) From Sale of Assets	-0.02	-0.02	-0.31	-0.05	-	-0.01
Asset Writedown & Restructuring Costs	0.01	0.01	0	-	-	0.03
Loss (Gain) From Sale of Investments	-3.58	-3.58	-4.6	-625.94	-532.27	4.56
Provision & Write-off of Bad Debts	1.88	1.88	1.14	5.05	-1.04	-3.24
Other Operating Activities	-62.64	-0.99	-6.59	-1.25	-6.43	3.5
Change in Accounts Receivable	-59.51	-59.51	167.34	-38.25	-34.13	144.09
Change in Inventory	25.38	25.38	-39.2	-5.82	45.01	-12.57
Change in Accounts Payable	124.8	124.8	-186.87	152.7	11.76	-193.43
Change in Other Net Operating Assets	-0.24	-0.24	-0.24	-0.24	-0.32	-0.36
Operating Cash Flow	193.39	255.94	98.32	56.49	139.93	67.63
Operating Cash Flow Growth	66.28%	160.31%	74.05%	-59.63%	106.91%	-45.78%
Capital Expenditures	-4.96	-4.7	-1.36	-7.31	-0.62	-8.54
Sale of Property, Plant & Equipment	0.08	0.11	0.43	0.06	-	0.05
Investment in Securities	261	261.85	-218.72	61.72	-	-46.5
Other Investing Activities	-196.19	4.66	8.08	983.79	0.59	0.04
Investing Cash Flow	59.93	261.92	-211.56	1,038	-0.04	-54.95
Short-Term Debt Issued	-	40	290	30	-	-
Total Debt Issued	-	40	290	30	-	-
Short-Term Debt Repaid	-	-40	-320.34	-	-	-
Total Debt Repaid	-40	-40	-320.34	-	-	-
Net Debt Issued (Repaid)	-40	-	-30.34	30	-	-
Repurchase of Common Stock	-	-	-20.42	-11.32	-	-
Common Dividends Paid	-264.05	-264.07	-264.53	-452.79	-106.53	-44.39
Financing Cash Flow	-304.05	-264.07	-315.28	-434.12	-106.53	-44.39
Foreign Exchange Rate Adjustments	-0.14	1.97	6.46	-0.34	6.68	-2.81
Net Cash Flow	-50.87	255.76	-422.07	660.31	40.04	-34.52
Free Cash Flow	188.43	251.24	96.97	49.18	139.31	59.08
Free Cash Flow Growth	64.31%	159.11%	97.16%	-64.70%	135.78%	-47.73%
Free Cash Flow Margin	11.32%	14.88%	5.67%	3.23%	9.84%	3.72%
Free Cash Flow Per Share	0.71	0.95	0.37	0.18	0.52	0.22
Cash Income Tax Paid	61.3	78.76	62.83	34.96	50.01	-4.27
Levered Free Cash Flow	146.52	208.83	42.36	-12.33	100.18	-77.6
Unlevered Free Cash Flow	146.7	209.01	42.81	-12.24	100.18	-77.6
Change in Working Capital	92.27	92.27	-60.33	28.58	101.81	-61.88

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