SHA:603588 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	1,039	481.82	504.64	692.48	726.25
Depreciation & Amortization	627.11	602.2	540.01	461.13	347.8
Other Amortization	12.76	22.94	12.93	10.93	4.35
Loss (Gain) From Sale of Assets	18.46	0.7	-2.63	-0.43	-29.26
Asset Writedown & Restructuring Costs	146.1	96.55	41.53	19.41	49.66
Loss (Gain) From Sale of Investments	-87.24	254.84	302.44	-53.5	-99.6
Provision & Write-off of Bad Debts	-	74.88	69.7	35.36	49.87
Other Operating Activities	504.02	72.65	34.23	432.51	455.7
Change in Accounts Receivable	65.75	-494.69	-371.89	-1,347	-965.23
Change in Inventory	-853.97	-245.93	-2,273	-1,402	-37.46
Change in Accounts Payable	-250.73	-67.28	201.26	722.74	115.33
Change in Other Net Operating Assets	0.36	-7.02	7.18	13.15	11.78
Operating Cash Flow	1,173	759.51	-952.58	-445.91	606.92
Operating Cash Flow Growth	54.50%	-	-	-	-44.26%
Capital Expenditures	-340.3	-894.92	-1,507	-2,612	-1,984
Sale of Property, Plant & Equipment	80.49	11.45	5.27	121.65	25.73
Cash Acquisitions	-9	-	-34.5	-7.9	-74.96
Divestitures	100.7	-	-	2.06	20.19
Investment in Securities	354.18	360.1	307.53	-218.03	-3.31
Other Investing Activities	9.39	15.39	5.42	119.45	27.64
Investing Cash Flow	195.46	-507.98	-1,223	-2,613	-2,048
Long-Term Debt Issued	5,507	9,279	7,133	5,526	3,563
Long-Term Debt Repaid	-6,070	-8,209	-4,028	-4,912	-2,240
Net Debt Issued (Repaid)	-563.35	1,071	3,106	613.91	1,322
Issuance of Common Stock	-	-	54.7	2,776	86.04
Repurchase of Common Stock	-	-65.43	-	-2.74	-1.52
Common Dividends Paid	-495.66	-1,037	-481.17	-469.51	-449.09
Other Financing Activities	-194.19	-78.64	-411.88	704.02	-85.77
Financing Cash Flow	-1,253	-110.63	2,267	3,622	871.75
Foreign Exchange Rate Adjustments	-0.48	-3.83	-0.17	1.15	0.02
Net Cash Flow	115.21	137.08	91.69	564.29	-568.98
Free Cash Flow	833.13	-135.41	-2,459	-3,058	-1,377
Free Cash Flow Margin	5.66%	-0.93%	-23.24%	-34.85%	-17.60%
Free Cash Flow Per Share	0.55	-0.09	-1.61	-2.25	-1.09
Cash Income Tax Paid	336.7	359.94	387.49	284.38	297.73
Levered Free Cash Flow	429.74	-1,091	-2,887	-2,772	-3,610
Unlevered Free Cash Flow	429.74	-806.25	-2,625	-2,550	-3,410
Change in Working Capital	-1,087	-847.05	-2,455	-2,044	-897.86

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