SHA:603565 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	2,001	1,835	1,717	2,741	2,404
Depreciation & Amortization	761.98	705.93	700.52	657.48	399.2
Other Amortization	1.4	0.79	0.42	0.37	0.37
Loss (Gain) From Sale of Assets	-108.37	-395.26	-278.47	-6.45	-627.31
Asset Writedown & Restructuring Costs	-0.18	0.02	0.27	0.1	1.02
Loss (Gain) From Sale of Investments	-140.69	-244.48	-179.04	-273.68	-130.94
Provision & Write-off of Bad Debts	1.64	39.86	0.21	1.12	-0.11
Other Operating Activities	429.52	249.21	248.09	37.81	222.02
Change in Accounts Receivable	251.35	120.23	-122.38	-95.3	-88.87
Change in Inventory	-2.22	33.45	40.16	-45.47	14.46
Change in Accounts Payable	-195.26	-75.35	261.82	901.24	1,018
Operating Cash Flow	2,940	2,261	2,479	3,963	3,176
Operating Cash Flow Growth	30.03%	-8.79%	-37.45%	24.75%	57.46%
Capital Expenditures	-404.77	-707.51	-3,044	-2,333	-811.6
Sale of Property, Plant & Equipment	73.87	1,007	360.06	28.15	843.86
Cash Acquisitions	-	-	-	-2,834	-
Divestitures	-	24.2	-	2,850	-
Investment in Securities	1,972	260.25	-489.3	1,591	-5,973
Other Investing Activities	142.09	162.4	121.31	239.29	136.34
Investing Cash Flow	1,783	745.92	-3,052	-458.03	-5,804
Long-Term Debt Issued	3,072	3,498	4,424	3,042	621.59
Long-Term Debt Repaid	-2,581	-2,623	-2,252	-953.35	-680.95
Net Debt Issued (Repaid)	491.29	875.16	2,172	2,089	-59.35
Issuance of Common Stock	-	-	-	-	2,728
Common Dividends Paid	-2,790	-1,757	-509.91	-3,250	-678.41
Dividends Paid	-2,790	-1,757	-509.91	-3,250	-678.41
Other Financing Activities	-2.68	246.07	-539.35	-644.16	30.8
Financing Cash Flow	-2,302	-636.13	1,123	-1,806	2,021
Foreign Exchange Rate Adjustments	-135.62	77.37	57.06	213.51	-5.45
Net Cash Flow	2,286	2,448	606.58	1,912	-611.96
Free Cash Flow	2,535	1,553	-565.57	1,629	2,365
Free Cash Flow Growth	63.21%	-	-	-31.10%	92.33%
Free Cash Flow Margin	23.88%	13.80%	-4.55%	11.47%	19.24%
Free Cash Flow Per Share	1.20	0.74	-0.27	0.78	1.22
Cash Income Tax Paid	538.06	388.75	607.05	1,520	617.41
Levered Free Cash Flow	1,395	933.31	-1,945	391.78	1,319
Unlevered Free Cash Flow	1,560	1,115	-1,788	502.9	1,407
Change in Working Capital	-6.67	69.22	269.44	804.41	907.79

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