SHA:603727 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	61.45	100.55	-75.48	64.62	166.17
Depreciation & Amortization	116.21	109.49	124.93	140.73	135.97
Other Amortization	1.16	1.53	0.05	0.05	-
Loss (Gain) From Sale of Assets	0.04	-0.08	-0	-	-0.02
Asset Writedown & Restructuring Costs	106.7	0.12	0.03	0.54	3.3
Loss (Gain) From Sale of Investments	-6.98	29.11	-0.02	-48.09	-14.77
Provision & Write-off of Bad Debts	-	93.94	-10.98	-2.49	20.55
Other Operating Activities	66.86	-0.67	51.9	25.05	0.33
Change in Accounts Receivable	15.2	-975.65	-385.65	-132.2	-1,313
Change in Inventory	15.58	-67.67	117.29	92.92	-198.42
Change in Accounts Payable	-259.18	714.65	718.93	279.8	876.65
Operating Cash Flow	116.92	11.87	514.56	404.31	-327.27
Operating Cash Flow Growth	885.12%	-97.69%	27.27%	-	-
Capital Expenditures	-17.49	-107.2	-40.96	-15.51	-188.49
Sale of Property, Plant & Equipment	0.17	0.18	0.06	0.03	0.09
Investment in Securities	221.65	-884.67	-	120.84	196.48
Other Investing Activities	16.3	6.93	0.59	3.16	36.51
Investing Cash Flow	220.63	-984.76	-40.31	108.51	44.59
Short-Term Debt Issued	-	598	200	-	-
Long-Term Debt Issued	200	-	-	680	620
Total Debt Issued	200	598	200	680	620
Short-Term Debt Repaid	-	-679.98	-620.02	-	-
Long-Term Debt Repaid	-698	-	-	-200	-370
Total Debt Repaid	-698	-679.98	-620.02	-200	-370
Net Debt Issued (Repaid)	-498	-81.98	-420.02	480	250
Issuance of Common Stock	-	-	-	0.01	781.88
Repurchase of Common Stock	-	-60.04	-	-	-
Common Dividends Paid	-72.53	-48.63	-54.54	-93.36	-57.25
Other Financing Activities	11.35	-	55	-124.63	-231.08
Financing Cash Flow	-559.17	-190.65	-419.56	262.02	743.54
Foreign Exchange Rate Adjustments	7.89	-26.5	3.42	104.45	-13.26
Net Cash Flow	-213.73	-1,190	58.12	879.3	447.6
Free Cash Flow	99.43	-95.33	473.6	388.8	-515.76
Free Cash Flow Growth	-	-	21.81%	-	-
Free Cash Flow Margin	5.23%	-3.61%	26.33%	12.09%	-12.64%
Free Cash Flow Per Share	0.36	-0.34	1.69	1.38	-2.08
Cash Income Tax Paid	-198.47	-50	-78.7	-398.25	-262.56
Levered Free Cash Flow	-203.87	-144.37	510.49	305.64	-630.53
Unlevered Free Cash Flow	-203.87	-140.11	518.14	320.02	-625.78
Change in Working Capital	-228.51	-322.12	424.12	223.92	-638.81

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