SHA:603682 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	62.96	14.75	98.84	97.04	124.06	156.14
Depreciation & Amortization	465.87	465.87	443.31	413.55	318.19	15.51
Other Amortization	96.76	96.76	115.08	96.23	79.21	73.71
Gain (Loss) on Sale of Assets	-6.34	-6.34	-80.65	1.86	3.02	0
Gain (Loss) on Sale of Investments	-73.53	-73.53	3.05	13.62	-1.94	-15.28
Asset Writedown	69.11	69.11	13.1	0.47	-	1.02
Change in Accounts Receivable	-20.95	-20.95	-84.34	-43.91	-149.86	116.65
Change in Accounts Payable	48.54	48.54	-3.17	6.65	-82.27	-139.14
Change in Other Net Operating Assets	-4.66	-4.66	-0.78	-141.17	-7.99	0.35
Other Operating Activities	41.4	168.9	153.47	157.04	150.05	1.17
Operating Cash Flow	649.02	728.31	643.93	582.38	422.17	206.63
Operating Cash Flow Growth	-2.63%	13.10%	10.57%	37.95%	104.32%	-22.15%
Acquisition of Real Estate Assets	-48.83	-77.8	-29.56	-	-72.35	-223.77
Sale of Real Estate Assets	-	0.23	0.77	0.35	29.67	-
Net Sale / Acq. of Real Estate Assets	-48.83	-77.57	-28.79	0.35	-42.68	-223.77
Cash Acquisition	-	-	-63.91	-83.12	-174.09	-
Investment in Marketable & Equity Securities	17.25	50.25	-44.19	-32.9	-91.12	-0.02
Other Investing Activities	1.3	2.68	-2.46	5.05	10.18	12.46
Investing Cash Flow	-30.28	-24.64	-139.34	-110.62	-297.72	-211.33
Long-Term Debt Repaid	-	-523.48	-494.59	-359.12	-408.55	-55.88
Net Debt Issued (Repaid)	-523.48	-523.48	-494.59	-359.12	-408.55	-55.88
Issuance of Common Stock	-	-	-	-	-	705.04
Common Dividends Paid	-155.93	-103.95	-103.95	-103.95	-104.06	-180.57
Other Financing Activities	-52.08	-	-	0.23	6.1	-16.89
Net Cash Flow	-112.74	76.24	-93.94	8.92	-382.06	447.01
Cash Income Tax Paid	125.14	97.67	102.2	97.75	81.47	85.43
Levered Free Cash Flow	246.98	425.75	907.68	516.78	575.06	-110.95
Unlevered Free Cash Flow	355.74	542.47	1,014	623.35	672.01	-110.81
Change in Working Capital	-10.1	-10.1	-101.27	-199.16	-250.01	-25.78

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.