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 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	190.15	186.48	211.97	211.34	212.04	233.47
Depreciation & Amortization	136.25	136.25	121.93	112.52	108.09	106.14
Other Amortization	4.15	4.15	0.33	-	-	-
Loss (Gain) on Sale of Assets	-18.8	-18.8	-16.22	-8.53	-14.23	-9.56
Loss (Gain) on Sale of Investments	-82.31	-82.31	-85.11	-78.85	-73.24	-56.25
Asset Writedown	-0.5	-0.5	-0.42	6.27	0.02	3.57
Change in Accounts Receivable	-12.69	-12.69	-82.56	103.81	-13.14	-152.39
Change in Inventory	-2.4	-2.4	44.87	-45.53	49.94	-40.66
Change in Accounts Payable	57.64	57.64	71.44	55.86	25.88	-16.3
Other Operating Activities	20.1	61.03	69.49	92.57	98.61	126.21
Operating Cash Flow	290.82	328.08	333.99	447.31	395.02	193.96
Operating Cash Flow Growth	-16.20%	-1.77%	-25.33%	13.24%	103.67%	-44.00%
Capital Expenditures	-340.42	-304.69	-326.36	-126.3	-72.49	-103.3
Sale of Property, Plant & Equipment	27.92	19.52	21.22	9.1	16.11	10.22
Investment in Securities	34.55	74.55	82.29	146.51	-36.4	124.66
Other Investing Activities	-62.44	1.35	1.77	1.17	1.65	1.64
Investing Cash Flow	-340.39	-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	-	-422.11	-620.87	-1,064	-1,209	-806.73
Total Debt Repaid	-462.11	-422.11	-620.87	-1,064	-1,209	-806.73
Net Debt Issued (Repaid)	-20.38	58	8.59	-430.14	-102.86	-20.73
Issuance of Common Stock	-	-	-	-	-	222.27
Common Dividends Paid	-103.96	-104.39	-81.74	-91.28	-120.27	-127.29
Other Financing Activities	100.99	72.21	-19.49	-27.53	8.4	-40.82
Financing Cash Flow	-23.34	25.82	-92.65	-548.94	-214.72	33.41
Net Cash Flow	-72.91	144.63	20.26	-71.15	89.17	260.58
Free Cash Flow	-49.59	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	-1.48%	0.74%	0.21%	9.76%	8.89%	2.85%
Free Cash Flow Per Share	-0.13	0.06	0.02	0.81	0.81	0.24
Cash Income Tax Paid	108.28	109.33	106.52	107.83	63.41	84.17
Levered Free Cash Flow	-99.66	-5.2	-62.97	255.17	264	12.16
Unlevered Free Cash Flow	-89.87	4.6	-52.18	272.36	294.26	47.24
Change in Working Capital	39.61	39.61	29.76	112.32	61.55	-209.62

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