SHA:603577 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	103.04	154.7	26.17	39.35	71.25
Depreciation & Amortization	129.12	130.7	119.98	98.33	90.22
Other Amortization	3.02	2.4	2.38	1.24	0.33
Loss (Gain) From Sale of Assets	-11.41	-15.67	-42.02	1.23	0.26
Asset Writedown & Restructuring Costs	0.77	2.3	28.94	-	20.46
Loss (Gain) From Sale of Investments	-0.29	-0.23	-2.47	6.16	-3.03
Provision & Write-off of Bad Debts	25.86	35.55	59.48	60.19	19.24
Other Operating Activities	101.83	137.13	117.73	124.5	94.35
Change in Accounts Receivable	-188.87	-508.88	-639.36	-1,241	-592.14
Change in Inventory	-236.18	316.15	201.93	11.58	-391.16
Change in Accounts Payable	291.65	-79.51	341.26	718.29	349.63
Operating Cash Flow	217.93	183.33	198.82	-189.22	-346.7
Operating Cash Flow Growth	18.87%	-7.79%	-	-	-
Capital Expenditures	-14.69	-53.88	-430.3	-339	-113.01
Sale of Property, Plant & Equipment	33.35	26.8	57.79	1.06	2.68
Divestitures	-	-	-	21.8	-
Investment in Securities	-13.5	21	-21	3.15	45.73
Other Investing Activities	0.29	0.23	2.97	4.83	-0.28
Investing Cash Flow	5.45	-5.86	-390.55	-308.17	-64.89
Long-Term Debt Issued	2,086	1,946	3,940	2,214	1,595
Total Debt Issued	2,086	1,946	3,940	2,214	1,595
Long-Term Debt Repaid	-4,003	-3,498	-4,962	-2,443	-1,545
Total Debt Repaid	-4,003	-3,498	-4,962	-2,443	-1,545
Net Debt Issued (Repaid)	-1,917	-1,552	-1,022	-229.21	50.3
Issuance of Common Stock	-	-	-	-	372.9
Common Dividends Paid	-125.01	-151.87	-133.36	-120.61	-106.32
Other Financing Activities	1,907	1,234	1,419	885.53	307.84
Financing Cash Flow	-134.48	-469.79	263.23	535.71	624.72
Foreign Exchange Rate Adjustments	-0.01	0.16	3.39	2.56	-2.47
Net Cash Flow	88.88	-292.15	74.9	40.89	210.66
Free Cash Flow	203.24	129.45	-231.48	-528.22	-459.71
Free Cash Flow Growth	57.00%	-	-	-	-
Free Cash Flow Margin	4.86%	2.80%	-5.66%	-14.64%	-14.31%
Free Cash Flow Per Share	0.60	0.38	-0.68	-1.56	-1.53
Cash Income Tax Paid	202.71	186.27	77.91	64.25	28.77
Levered Free Cash Flow	-129.28	-64.16	-527.93	-575.28	-812.75
Unlevered Free Cash Flow	-69.05	15.32	-442.53	-498.06	-756.15
Change in Working Capital	-134.01	-263.55	-111.37	-520.22	-639.78

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