SHA:603706 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	237.54	216.1	197.47	197.4	137.09	155.81
Depreciation & Amortization	128.39	128.39	143.7	166.59	164.51	183.5
Other Amortization	1.1	1.1	0.87	0.99	0.34	0.28
Loss (Gain) From Sale of Assets	-3.93	-3.93	-0.24	-0.03	2	11.61
Asset Writedown & Restructuring Costs	24.15	24.15	12.47	15.19	-	0.66
Loss (Gain) From Sale of Investments	-15.45	-15.45	-7.58	-16.43	-11.76	-15.33
Provision & Write-off of Bad Debts	2.11	2.11	5.96	5.55	11.84	-0.23
Other Operating Activities	51.49	24.95	14.56	17.42	13.8	19.41
Change in Accounts Receivable	34.48	34.48	-65.03	-20.6	-153.24	37
Change in Inventory	41.15	41.15	80.34	-145.33	-24.22	-33.42
Change in Accounts Payable	-173.21	-173.21	2.48	244.95	129.51	8.92
Operating Cash Flow	318.37	270.39	377.73	453.32	260.5	367.43
Operating Cash Flow Growth	-10.39%	-28.42%	-16.68%	74.02%	-29.10%	17.36%
Capital Expenditures	-33.85	-36.82	-167.79	-33.39	-91.71	-134.72
Sale of Property, Plant & Equipment	19.95	15.43	3.1	0.05	2.17	0.28
Investment in Securities	-180	-127	-128	-106.45	88.92	-312.57
Other Investing Activities	20.25	16.07	16.04	14.07	17.7	12.71
Investing Cash Flow	-173.65	-132.32	-276.66	-125.72	17.08	-434.3
Long-Term Debt Issued	-	-	-	-	-	5
Long-Term Debt Repaid	-	-25.21	-43.11	-44.43	-47.77	-139
Net Debt Issued (Repaid)	-15.48	-25.21	-43.11	-44.43	-47.77	-134
Common Dividends Paid	-177.66	-177.78	-181.12	-159.93	-166.73	-142.26
Other Financing Activities	0.2	-	-	-	-	-0.1
Financing Cash Flow	-192.94	-202.99	-224.23	-204.36	-214.5	-276.37
Net Cash Flow	-48.21	-64.93	-123.17	123.24	63.08	-343.24
Free Cash Flow	284.52	233.57	209.93	419.93	168.8	232.71
Free Cash Flow Growth	46.71%	11.26%	-50.01%	148.78%	-27.46%	-7.13%
Free Cash Flow Margin	21.08%	17.54%	14.54%	34.91%	15.97%	23.54%
Free Cash Flow Per Share	1.50	1.23	1.11	2.21	0.89	1.23
Cash Income Tax Paid	98.95	122.31	102.78	81.27	45.31	50.95
Levered Free Cash Flow	221.91	173.11	327.07	374.18	179.07	248.94
Unlevered Free Cash Flow	222.91	174.11	328.77	375.74	182.34	254.16
Change in Working Capital	-107.02	-107.02	10.52	66.63	-57.32	11.72

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