SHA:603689 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	324.48	332.63	343.97	255.08	206.38
Depreciation & Amortization	201.07	181.75	145.17	157.42	177.56
Other Amortization	5.26	0.54	0.45	0.45	0.5
Loss (Gain) From Sale of Assets	0.8	-0.02	-0.04	0.18	-0.64
Asset Writedown & Restructuring Costs	0.37	0.02	10.06	10.91	0.17
Loss (Gain) From Sale of Investments	-53.25	-66.42	-66.2	-24.72	-0.87
Provision & Write-off of Bad Debts	-1.79	3.47	-1.15	-1.28	2.6
Other Operating Activities	64.48	68.56	56.12	37.64	9.55
Change in Accounts Receivable	44.8	-50.31	29.22	-47.83	8.68
Change in Inventory	3.14	-3.63	-6.34	-2.86	1.01
Change in Accounts Payable	-147.93	117.51	-12.96	48.77	64.55
Change in Other Net Operating Assets	13.88	25.79	1.38	5.65	3.83
Operating Cash Flow	455.93	607.59	494.88	438.63	472.18
Operating Cash Flow Growth	-24.96%	22.78%	12.82%	-7.11%	-11.21%
Capital Expenditures	-520.59	-735.8	-574.15	-628.31	-370.63
Sale of Property, Plant & Equipment	4.95	0.11	0.35	3.76	15.1
Cash Acquisitions	-	-	-303.47	-	-
Divestitures	-	-	-	-0.5	-
Investment in Securities	8.41	-37.25	1.72	-563.59	-943.21
Other Investing Activities	18.94	51.63	19.58	2.12	3.38
Investing Cash Flow	-488.3	-721.32	-855.97	-1,185	-1,295
Long-Term Debt Issued	1,139	433.99	597.2	1,321	1,356
Total Debt Issued	1,139	433.99	597.2	1,321	1,356
Long-Term Debt Repaid	-907.26	-373.94	-238.79	-782.54	-99.99
Total Debt Repaid	-907.26	-373.94	-238.79	-782.54	-99.99
Net Debt Issued (Repaid)	231.59	60.06	358.41	538.1	1,256
Issuance of Common Stock	-	-	36.58	105	-
Common Dividends Paid	-245.53	-218.02	-137.94	-112.72	-86.68
Other Financing Activities	1.58	76.58	72.53	94.62	-9.89
Financing Cash Flow	-12.36	-81.38	329.57	625.01	1,159
Net Cash Flow	-44.72	-195.1	-31.52	-120.88	336.3
Free Cash Flow	-64.66	-128.21	-79.27	-189.68	101.54
Free Cash Flow Growth	-	-	-	-	-47.94%
Free Cash Flow Margin	-1.27%	-2.21%	-1.30%	-3.20%	2.06%
Free Cash Flow Per Share	-0.11	-0.22	-0.14	-0.34	0.21
Cash Interest Paid	-	-	-	-	0.43
Cash Income Tax Paid	178.68	171.83	161.87	103.99	135.6
Levered Free Cash Flow	260.61	-260.42	-12.53	-230.76	50.19
Unlevered Free Cash Flow	296.54	-219.29	23.47	-198.81	64.08
Change in Working Capital	-85.47	87.06	6.51	2.95	76.92

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