SHA:605011 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	233.03	211.97	211.34	212.04	233.47
Depreciation & Amortization	138.07	121.53	112.52	108.09	106.14
Other Amortization	2.33	0.74	-	-	-
Loss (Gain) on Sale of Assets	-18.8	-16.22	-8.53	-14.23	-9.56
Loss (Gain) on Sale of Investments	-82.31	-85.11	-78.85	-73.24	-56.25
Asset Writedown	-3.5	-0.42	6.27	0.02	3.57
Change in Accounts Receivable	-12.69	-82.56	103.81	-13.14	-152.39
Change in Inventory	-2.4	44.87	-45.53	49.94	-40.66
Change in Accounts Payable	57.64	71.44	55.86	25.88	-16.3
Other Operating Activities	19.65	69.49	92.57	98.61	126.21
Operating Cash Flow	328.08	333.99	447.31	395.02	193.96
Operating Cash Flow Growth	-1.77%	-25.33%	13.24%	103.67%	-44.00%
Capital Expenditures	-304.69	-326.36	-126.3	-72.49	-103.3
Sale of Property, Plant & Equipment	19.52	21.22	9.1	16.11	10.22
Investment in Securities	-	82.29	146.51	-36.4	124.66
Other Investing Activities	75.9	1.77	1.17	1.65	1.64
Investing Cash Flow	-209.27	-221.08	30.47	-91.13	33.21
Long-Term Debt Issued	480.11	629.46	634.16	1,106	786
Long-Term Debt Repaid	-415	-620.87	-1,064	-1,209	-806.73
Total Debt Repaid	-415	-620.87	-1,064	-1,209	-806.73
Net Debt Issued (Repaid)	65.11	8.59	-430.14	-102.86	-20.73
Issuance of Common Stock	-	-	-	-	222.27
Common Dividends Paid	-104.39	-81.74	-91.28	-120.27	-127.29
Other Financing Activities	65.1	-19.49	-27.53	8.4	-40.82
Financing Cash Flow	25.82	-92.65	-548.94	-214.72	33.41
Net Cash Flow	144.63	20.26	-71.15	89.17	260.58
Free Cash Flow	23.39	7.63	321.01	322.54	90.65
Free Cash Flow Growth	206.69%	-97.63%	-0.47%	255.79%	-69.71%
Free Cash Flow Margin	0.74%	0.21%	9.76%	8.89%	2.85%
Free Cash Flow Per Share	0.06	0.02	0.81	0.81	0.24
Cash Income Tax Paid	109.33	106.52	107.83	63.41	84.17
Levered Free Cash Flow	7.03	-63	255.17	264	12.16
Unlevered Free Cash Flow	7.03	-52.21	272.36	294.26	47.24
Change in Working Capital	39.61	29.76	112.32	61.55	-209.62

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