SHA:603648 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	130.9	153.12	162.07	145.51
Depreciation & Amortization	179.8	176.2	152.14	137.14
Other Amortization	4.7	5.73	6.05	6.61
Loss (Gain) From Sale of Assets	0.16	0.31	-1.94	-0.92
Asset Writedown & Restructuring Costs	0.19	0.15	0.11	0.22
Loss (Gain) From Sale of Investments	-5.17	-34.55	-34.15	-25.09
Provision & Write-off of Bad Debts	7.38	4.4	9.36	1.17
Other Operating Activities	20.78	17.87	10.05	16.8
Change in Accounts Receivable	-130.95	-19.83	-20.09	-42.48
Change in Inventory	47.31	-18.3	-11.57	2.47
Change in Accounts Payable	0.56	45	20.42	11.59
Change in Other Net Operating Assets	-	-1.13	-0.3	0.44
Operating Cash Flow	254.12	328.79	288.85	252.93
Operating Cash Flow Growth	-22.71%	13.83%	14.20%	3.72%
Capital Expenditures	-81.67	-160.91	-138.97	-22.95
Sale of Property, Plant & Equipment	0.64	0.22	0.43	1.66
Cash Acquisitions	-	-14.78	-	-
Divestitures	-	-5.69	-	-
Investment in Securities	59.67	166.07	30.61	-82.98
Other Investing Activities	1.63	18.1	14.32	13.45
Investing Cash Flow	-19.73	3.02	-93.61	-90.82
Long-Term Debt Issued	154.19	20	-	-
Total Debt Issued	154.19	20	-	-
Long-Term Debt Repaid	-141.91	-218.97	-93.55	-76.49
Total Debt Repaid	-141.91	-218.97	-93.55	-76.49
Net Debt Issued (Repaid)	12.28	-198.97	-93.55	-76.49
Repurchase of Common Stock	-	-	-45.02	-9.98
Common Dividends Paid	-127.91	-126.88	-108.72	-66.36
Other Financing Activities	-4.73	-3.9	0.65	0.21
Financing Cash Flow	-120.36	-329.75	-246.64	-152.62
Foreign Exchange Rate Adjustments	-0.17	0.71	3.43	-1.46
Net Cash Flow	113.86	2.77	-47.98	8.04
Free Cash Flow	172.45	167.88	149.88	229.98
Free Cash Flow Growth	2.73%	12.01%	-34.83%	48.84%
Free Cash Flow Margin	11.35%	10.29%	9.15%	14.44%
Free Cash Flow Per Share	0.48	0.46	0.41	0.62
Cash Income Tax Paid	71.5	45.39	47.53	72.42
Levered Free Cash Flow	-87.11	116.19	86.11	203.88
Unlevered Free Cash Flow	-79.52	125.15	93.15	211.15
Change in Working Capital	-84.62	5.56	-14.84	-28.52

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