SHA:603868 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	450.38	457.86	1,020	822.98	640.7	638.28
Depreciation & Amortization	123.44	123.44	124.76	107.64	78.67	70.03
Other Amortization	12.64	12.64	7.84	1.84	2.84	3.42
Loss (Gain) From Sale of Assets	-0.18	-0.18	0.06	-0.67	0.13	-0.52
Asset Writedown & Restructuring Costs	0.04	0.04	0.85	3.5	0.76	0.06
Loss (Gain) From Sale of Investments	-32.53	-32.53	-31.06	-14.2	-23.01	-13.49
Provision & Write-off of Bad Debts	-0.41	-0.41	-1.77	21.28	25.13	0.96
Other Operating Activities	447.02	13.92	0.24	6.33	5.04	7.38
Change in Accounts Receivable	23.62	23.62	-5.4	77.59	58.7	56.55
Change in Inventory	-172.25	-172.25	180.13	-23.86	-143.92	185.11
Change in Accounts Payable	-114.39	-114.39	-7.29	-184.19	139.74	16.42
Operating Cash Flow	721.87	296.26	1,311	816	740.95	979.21
Operating Cash Flow Growth	81.63%	-77.40%	60.66%	10.13%	-24.33%	109.54%
Capital Expenditures	-81.05	-87.78	-71.54	-113.14	-179.65	-205.22
Sale of Property, Plant & Equipment	0.22	1.31	0.53	1.98	2.89	0.96
Investment in Securities	-60.15	451.8	-354.63	-115.5	-205.5	-169.01
Other Investing Activities	18.57	20.25	22.39	16.57	16.44	14.71
Investing Cash Flow	-122.41	385.58	-403.24	-210.09	-365.82	-358.57
Long-Term Debt Issued	-	630	-	-	-	-
Long-Term Debt Repaid	-	-645.14	-19.96	-12.21	-3.95	-
Net Debt Issued (Repaid)	-445.14	-15.14	-19.96	-12.21	-3.95	-
Common Dividends Paid	-221.34	-1,006	-871.2	-435.6	-435.6	-435.6
Other Financing Activities	8.48	-	-	-	-0.41	1.1
Financing Cash Flow	-658	-1,021	-891.16	-447.81	-439.96	-434.5
Foreign Exchange Rate Adjustments	0.13	0.16	0.32	1.75	-0.4	-0.24
Net Cash Flow	-58.4	-339.09	16.86	159.84	-65.24	185.9
Free Cash Flow	640.83	208.48	1,239	702.86	561.29	773.98
Free Cash Flow Growth	92.32%	-83.18%	76.34%	25.22%	-27.48%	296.97%
Free Cash Flow Margin	16.57%	5.03%	24.50%	15.19%	14.01%	21.69%
Free Cash Flow Per Share	1.47	0.48	2.84	1.61	1.29	1.78
Cash Income Tax Paid	421.36	328.43	690.95	720.62	372.23	455.9
Levered Free Cash Flow	533.45	64.7	898.97	476.46	386.4	617.52
Unlevered Free Cash Flow	535.59	67.71	899.66	476.97	386.58	617.52
Change in Working Capital	-278.52	-278.52	190.39	-132.7	10.69	273.11

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