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 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	519.72	512.08	457.86	1,020	822.98	640.7
Depreciation & Amortization	112.55	112.55	123.44	124.76	107.64	78.67
Other Amortization	16.98	16.98	12.64	7.84	1.84	2.84
Loss (Gain) From Sale of Assets	-0.4	-0.4	-0.18	0.06	-0.67	0.13
Asset Writedown & Restructuring Costs	29.2	29.2	0.04	0.85	3.5	0.76
Loss (Gain) From Sale of Investments	-4.48	-4.48	-32.53	-31.06	-14.2	-23.01
Provision & Write-off of Bad Debts	-	-	-0.41	-1.77	21.28	25.13
Other Operating Activities	-64.17	-4.67	13.92	0.24	6.33	5.04
Change in Accounts Receivable	96.51	96.51	23.62	-5.4	77.59	58.7
Change in Inventory	195.81	195.81	-172.25	180.13	-23.86	-143.92
Change in Accounts Payable	-75.82	-75.82	-114.39	-7.29	-184.19	139.74
Operating Cash Flow	823.33	875.2	296.26	1,311	816	740.95
Operating Cash Flow Growth	118.07%	195.42%	-77.40%	60.66%	10.13%	-24.33%
Capital Expenditures	-44.22	-61.47	-87.78	-71.54	-113.14	-179.65
Sale of Property, Plant & Equipment	0.41	0.42	1.31	0.53	1.98	2.89
Investment in Securities	-580.61	-618.24	451.8	-354.63	-115.5	-205.5
Other Investing Activities	17.03	18.27	20.25	22.39	16.57	16.44
Investing Cash Flow	-607.38	-661.01	385.58	-403.24	-210.09	-365.82
Long-Term Debt Issued	-	-	630	-	-	-
Long-Term Debt Repaid	-	-	-645.14	-19.96	-12.21	-3.95
Net Debt Issued (Repaid)	-	-	-15.14	-19.96	-12.21	-3.95
Common Dividends Paid	-217.8	-217.8	-1,006	-871.2	-435.6	-435.6
Other Financing Activities	-2.11	-4.51	-	-	-	-0.41
Financing Cash Flow	-219.91	-222.31	-1,021	-891.16	-447.81	-439.96
Foreign Exchange Rate Adjustments	-0.5	-0.29	0.16	0.32	1.75	-0.4
Net Cash Flow	-4.46	-8.42	-339.09	16.86	159.84	-65.24
Free Cash Flow	779.11	813.73	208.48	1,239	702.86	561.29
Free Cash Flow Growth	175.99%	290.31%	-83.18%	76.34%	25.22%	-27.48%
Free Cash Flow Margin	21.04%	21.07%	5.03%	24.50%	15.19%	14.01%
Free Cash Flow Per Share	1.79	1.88	0.48	2.84	1.61	1.29
Cash Income Tax Paid	431.45	421.69	328.43	690.95	720.62	372.23
Levered Free Cash Flow	660.94	673.73	64.7	898.97	476.46	386.4
Unlevered Free Cash Flow	660.96	673.73	67.71	899.66	476.97	386.58
Change in Working Capital	213.94	213.94	-278.52	190.39	-132.7	10.69

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