SHA:605011 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	188.06	211.97	211.34	212.04	233.47	233.89
Depreciation & Amortization	121.53	121.53	112.52	108.09	106.14	105.62
Other Amortization	0.74	0.74	-	-	-	0.09
Loss (Gain) on Sale of Assets	-16.22	-16.22	-8.53	-14.23	-9.56	-0.1
Loss (Gain) on Sale of Investments	-85.11	-85.11	-78.85	-73.24	-56.25	-78.1
Asset Writedown	-0.42	-0.42	6.27	0.02	3.57	1.48
Change in Accounts Receivable	-82.56	-82.56	103.81	-13.14	-152.39	-17.75
Change in Inventory	44.87	44.87	-45.53	49.94	-40.66	-68.61
Change in Accounts Payable	71.44	71.44	55.86	25.88	-16.3	34.06
Change in Other Net Operating Assets	-	-	-	-	-	0.16
Other Operating Activities	-7.1	69.49	92.57	98.61	126.21	135.09
Operating Cash Flow	233.49	333.99	447.31	395.02	193.96	346.34
Operating Cash Flow Growth	-39.41%	-25.33%	13.24%	103.67%	-44.00%	21.06%
Capital Expenditures	-281.99	-326.36	-126.3	-72.49	-103.3	-47.09
Sale of Property, Plant & Equipment	32.65	21.22	9.1	16.11	10.22	0.15
Investment in Securities	82.29	82.29	146.51	-36.4	124.66	118.24
Other Investing Activities	163.06	1.77	1.17	1.65	1.64	1.99
Investing Cash Flow	-3.99	-221.08	30.47	-91.13	33.21	73.29
Long-Term Debt Issued	-	629.46	634.16	1,106	786	756
Long-Term Debt Repaid	-	-620.87	-1,064	-1,209	-806.73	-946.65
Total Debt Repaid	-510.87	-620.87	-1,064	-1,209	-806.73	-946.65
Net Debt Issued (Repaid)	54	8.59	-430.14	-102.86	-20.73	-190.65
Issuance of Common Stock	50.05	-	-	-	222.27	-
Common Dividends Paid	-79.58	-81.74	-91.28	-120.27	-127.29	-127.3
Other Financing Activities	-17.24	-19.49	-27.53	8.4	-40.82	-15.22
Financing Cash Flow	7.23	-92.65	-548.94	-214.72	33.41	-333.17
Net Cash Flow	236.73	20.26	-71.15	89.17	260.58	86.47
Free Cash Flow	-48.5	7.63	321.01	322.54	90.65	299.25
Free Cash Flow Growth	-	-97.63%	-0.47%	255.79%	-69.71%	82.36%
Free Cash Flow Margin	-1.49%	0.21%	9.76%	8.89%	2.85%	14.33%
Free Cash Flow Per Share	-0.12	0.02	0.81	0.81	0.24	0.83
Cash Income Tax Paid	113.95	106.52	107.83	63.41	84.17	70.57
Levered Free Cash Flow	-58.07	-63	255.17	264	12.16	151.77
Unlevered Free Cash Flow	-48.16	-52.21	272.36	294.26	47.24	192.63
Change in Working Capital	29.76	29.76	112.32	61.55	-209.62	-51.63

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.