SHA:603797 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	134.13	179.53	222.59	276.74	303.45
Depreciation & Amortization	166.8	172.13	177.75	139.4	83.77
Other Amortization	1.14	0.82	1.12	1.67	1.48
Loss (Gain) From Sale of Assets	-	1.76	-0.11	-0.02	-46.13
Asset Writedown & Restructuring Costs	0.04	-0.02	0.01	0	0.02
Loss (Gain) From Sale of Investments	6.23	0.03	1.72	1.13	-1.18
Provision & Write-off of Bad Debts	-	86.69	74.35	19.34	2.16
Other Operating Activities	378.89	259.62	291.6	276.19	205.54
Change in Accounts Receivable	-81.31	-300.73	-499.59	-662.06	-538.09
Change in Inventory	-0.7	-0.37	37.54	-33.22	-0.54
Change in Accounts Payable	-177.43	30.97	-59.07	-140.76	-100.39
Change in Other Net Operating Assets	-	-	1.01	-	-
Operating Cash Flow	423.24	427.71	246.68	-107.74	-76.22
Operating Cash Flow Growth	-1.04%	73.39%	-	-	-
Capital Expenditures	-15.93	-96.76	-65.4	-305.59	-1,018
Sale of Property, Plant & Equipment	-	0.11	1.68	0.04	179.93
Divestitures	-	72	6.9	-	-
Investment in Securities	-	0.17	2.2	-10.01	-8.44
Other Investing Activities	-	-	0.16	2.19	6.65
Investing Cash Flow	-15.93	-24.48	-54.47	-313.38	-840.23
Long-Term Debt Issued	848.9	562	847.6	1,525	1,699
Long-Term Debt Repaid	-995.71	-1,011	-892.33	-834.23	-783.83
Net Debt Issued (Repaid)	-146.81	-449.23	-44.73	690.8	915.12
Issuance of Common Stock	-	-	-	-	817.9
Repurchase of Common Stock	-	-	-	-49.09	-1.03
Common Dividends Paid	-263.46	-240.98	-266.13	-383.49	-371.17
Other Financing Activities	-	-	-63.33	-163.36	42.35
Financing Cash Flow	-410.27	-690.22	-374.19	94.87	1,403
Foreign Exchange Rate Adjustments	-	-	-0	-0.04	-
Net Cash Flow	-2.96	-286.99	-181.98	-326.29	486.73
Free Cash Flow	407.31	330.95	181.28	-413.33	-1,095
Free Cash Flow Growth	23.07%	82.57%	-	-	-
Free Cash Flow Margin	39.91%	31.85%	13.21%	-28.86%	-139.43%
Free Cash Flow Per Share	0.70	0.57	0.31	-0.69	-2.02
Cash Income Tax Paid	45.41	61.01	57.88	-139.43	47.56
Levered Free Cash Flow	296.47	-68.97	-282.54	-618.19	-1,107
Unlevered Free Cash Flow	296.47	91.96	-104.72	-457.53	-984.96
Change in Working Capital	-264	-272.87	-522.35	-822.18	-625.33

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