SHA:605077 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	202.7	268.48	371.45	319.28	236.71
Depreciation & Amortization	292.27	200.42	172.84	106.48	85.22
Other Amortization	18.13	13.82	8.68	6.83	6.01
Loss (Gain) From Sale of Assets	-0.1	0.14	0.01	-0.03	-0.05
Asset Writedown & Restructuring Costs	20.04	0.49	4.27	2.31	5.58
Loss (Gain) From Sale of Investments	-16.57	-22.44	-11.69	-33.16	-51.93
Provision & Write-off of Bad Debts	-	18.62	0.17	6.89	-
Other Operating Activities	96.6	22.36	21.77	-1.35	6.45
Change in Accounts Receivable	-321.3	-393.33	14.25	-159.75	-40.49
Change in Inventory	-90.02	-410.94	-20.14	-161.1	-75
Change in Accounts Payable	234.47	451.3	51.5	161.12	86.9
Change in Other Net Operating Assets	8.9	24.61	3	-	8.1
Operating Cash Flow	424.4	146.5	619.47	271.98	264.32
Operating Cash Flow Growth	189.70%	-76.35%	127.77%	2.90%	-21.15%
Capital Expenditures	-483.38	-1,430	-690.7	-539.75	-360.93
Sale of Property, Plant & Equipment	2.06	0.42	1.2	11.77	0.56
Cash Acquisitions	-	-53.02	-528.88	-21	-47.17
Divestitures	-	-	-	-	17.5
Investment in Securities	-186.3	-9.5	-	47.27	-890
Other Investing Activities	118.64	-94.3	-40.18	565.63	25.09
Investing Cash Flow	-548.97	-1,586	-1,259	63.92	-1,255
Long-Term Debt Issued	1,487	682.41	2,328	696.7	156.07
Long-Term Debt Repaid	-669.32	-798.78	-490.23	-192.88	-182.89
Net Debt Issued (Repaid)	817.68	-116.37	1,838	503.82	-26.82
Issuance of Common Stock	-	7.72	77.37	-	1,394
Common Dividends Paid	-253.47	-196.56	-173.09	-111.94	-120.34
Other Financing Activities	-506.89	-5.34	-	-	-26.9
Financing Cash Flow	57.32	-310.54	1,742	391.88	1,220
Foreign Exchange Rate Adjustments	5.86	10.67	0.86	5.02	-1.94
Net Cash Flow	-61.39	-1,739	1,104	732.8	227.74
Free Cash Flow	-58.98	-1,283	-71.23	-267.77	-96.61
Free Cash Flow Margin	-1.41%	-45.69%	-2.56%	-12.17%	-6.06%
Free Cash Flow Per Share	-0.19	-3.39	-0.24	-0.90	-0.34
Cash Interest Paid	-	2.6	-	-	-
Cash Income Tax Paid	-42.29	-132.84	-45.42	-95.23	3.57
Levered Free Cash Flow	-346.96	-1,084	-251.85	-336.7	-233.82
Unlevered Free Cash Flow	-346.96	-1,063	-228.63	-327.8	-231.38
Change in Working Capital	-188.68	-353.32	47.46	-135.89	-23.67

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