SHA:605028 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	172.38	171.73	188.17	206.09	175.43
Depreciation & Amortization	87.39	64.21	48.68	42.19	42
Other Amortization	0.36	0.5	0.48	0.43	-
Loss (Gain) on Sale of Assets	1.6	1.44	-	1.83	-
Loss (Gain) on Sale of Investments	-31.89	-15.01	-10.34	-6.49	-0.89
Asset Writedown	0.1	0.02	0.88	8.97	11.91
Change in Accounts Receivable	9.87	3.85	16.58	-63.33	-38.09
Change in Inventory	0.01	0.21	1.19	-2.14	-1.94
Change in Accounts Payable	7.16	12.93	32.12	23.15	25.79
Other Operating Activities	-51.48	-8.65	0.53	0.28	0.56
Operating Cash Flow	194.73	230.11	272	236.13	213
Operating Cash Flow Growth	-15.38%	-15.40%	15.19%	10.86%	49.46%
Capital Expenditures	-118.96	-179.11	-284.45	-180.51	-36.82
Sale of Property, Plant & Equipment	0.73	1.09	-	1.76	-
Investment in Securities	3.83	-165.93	213.59	-188.28	-243.96
Other Investing Activities	38.85	14.07	6.39	6.18	1.03
Investing Cash Flow	-75.55	-329.87	-64.46	-360.84	-279.76
Short-Term Debt Repaid	-	-	-	-	-9.9
Long-Term Debt Repaid	-1.31	-1.31	-0.93	-4.11	-4.11
Total Debt Repaid	-1.31	-1.31	-0.93	-4.11	-14.01
Net Debt Issued (Repaid)	-1.31	-1.31	-0.93	-4.11	-14.01
Issuance of Common Stock	-	-	-	-	527.71
Common Dividends Paid	-176	-96	-48	-80	-80.08
Other Financing Activities	-	-	-	-	-19.53
Financing Cash Flow	-177.31	-97.31	-48.93	-84.11	414.08
Net Cash Flow	-58.13	-197.07	158.61	-208.83	347.32
Free Cash Flow	75.77	51	-12.45	55.62	176.17
Free Cash Flow Growth	48.57%	-	-	-68.43%	56.48%
Free Cash Flow Margin	23.47%	14.20%	-3.44%	12.57%	44.63%
Free Cash Flow Per Share	0.47	0.32	-0.08	0.35	1.28
Cash Income Tax Paid	32.56	30.6	7.35	41.4	24.24
Levered Free Cash Flow	19.95	-15.3	-49.31	-12.02	132.44
Unlevered Free Cash Flow	19.95	-15.29	-49.26	-11.84	132.79
Change in Working Capital	16.1	14.91	47.95	-17.18	-16.01

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