SHA:603606 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	1,271	1,008	1,000	841.9	1,189
Depreciation & Amortization	215.99	190.2	164.15	149.69	77.08
Other Amortization	13.11	4.33	4.31	3.05	2.14
Loss (Gain) From Sale of Assets	-0.05	-54.34	0.21	-0.06	-26.78
Loss (Gain) From Sale of Investments	-3.38	-35.51	-13.5	21.6	-6.05
Provision & Write-off of Bad Debts	136.83	85.69	122.53	65.07	67.25
Other Operating Activities	32.81	41.98	40.69	44.85	22.06
Change in Accounts Receivable	532.65	-602.55	-75.3	265.96	-464.95
Change in Inventory	-2,141	300.61	-836.96	193.25	-569.42
Change in Accounts Payable	1,919	180.58	810.25	-950.76	305.43
Change in Other Net Operating Assets	2.78	4.05	3.22	-	-
Operating Cash Flow	1,965	1,113	1,190	647.24	586.15
Operating Cash Flow Growth	76.58%	-6.54%	83.93%	10.42%	-15.54%
Capital Expenditures	-791.07	-613.09	-662.22	-443.84	-708.09
Sale of Property, Plant & Equipment	8.09	80.36	50.26	0.31	49.28
Divestitures	-	-	-	22.35	-
Investment in Securities	-28.08	24.57	16.44	-16.35	193
Other Investing Activities	1.84	3.01	-	1.93	1.37
Investing Cash Flow	-809.21	-505.15	-595.51	-435.6	-464.44
Long-Term Debt Issued	329.71	861.87	353	1,580	885.9
Total Debt Issued	329.71	861.87	353	1,580	885.9
Long-Term Debt Repaid	-641.97	-575.08	-708.31	-1,024	-310.17
Total Debt Repaid	-641.97	-575.08	-708.31	-1,024	-310.17
Net Debt Issued (Repaid)	-312.26	286.79	-355.31	555.78	575.73
Issuance of Common Stock	-	0.92	-	-	-
Repurchase of Common Stock	-17.99	-89.2	-	-	-
Common Dividends Paid	-330.33	-329.16	-206.17	-275.84	-163.56
Financing Cash Flow	-660.58	-130.64	-561.48	279.95	412.17
Foreign Exchange Rate Adjustments	5.11	-8.6	-3.15	-4.26	0.24
Net Cash Flow	500.06	468.27	30.33	487.33	534.12
Free Cash Flow	1,174	499.58	528.26	203.4	-121.95
Free Cash Flow Growth	134.93%	-5.43%	159.72%	-	-
Free Cash Flow Margin	10.82%	5.49%	7.23%	2.90%	-1.54%
Free Cash Flow Per Share	1.71	0.73	0.77	0.29	-0.19
Cash Income Tax Paid	285.7	448.71	357.88	340.47	427.16
Levered Free Cash Flow	-47.05	928.02	-44.12	-137.36	-248.29
Unlevered Free Cash Flow	-40.2	940.44	-24.03	-116.39	-235.19
Change in Working Capital	298.03	-127.84	-127.96	-478.87	-738.38

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