SHA:605117 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	3,169	2,960	1,791	1,517	578.56
Depreciation & Amortization	202.74	159.49	110.49	60.34	39.22
Other Amortization	45.43	29.45	27.7	9.84	15.13
Loss (Gain) From Sale of Assets	5.47	2.93	1.78	-1.68	-0.24
Asset Writedown & Restructuring Costs	16.59	-	0.66	0.8	0.12
Loss (Gain) From Sale of Investments	-108.78	-141.49	118.1	44.17	-41.79
Provision & Write-off of Bad Debts	-	66.46	5.51	18.95	7.79
Other Operating Activities	-16.23	8.21	-55.5	-94.64	27.97
Change in Accounts Receivable	-73.21	-1,457	16.83	-355.88	-23.01
Change in Inventory	-436.66	-621.67	61.16	-418.1	-195.37
Change in Accounts Payable	1,023	2,152	-247.98	1,326	382.47
Change in Other Net Operating Assets	187.38	258.42	298.98	112.1	3.73
Operating Cash Flow	3,986	3,367	2,081	2,204	796.61
Operating Cash Flow Growth	18.40%	61.78%	-5.57%	176.63%	75.59%
Capital Expenditures	-1,287	-468.9	-748.8	-809.14	-601.95
Sale of Property, Plant & Equipment	2.75	51.39	0.87	4.67	0.4
Cash Acquisitions	-	39.43	-	-	-
Investment in Securities	1,104	-1,434	-976.28	-2,413	-319.38
Other Investing Activities	3	6.49	-	-	-2.3
Investing Cash Flow	-176.94	-1,805	-1,724	-3,218	-923.22
Long-Term Debt Issued	5,773	4,412	3,672	2,238	-
Total Debt Issued	5,773	4,412	3,672	2,238	-
Long-Term Debt Repaid	-1,381	-6,022	-2,272	-434.96	-13.18
Total Debt Repaid	-1,381	-6,022	-2,272	-434.96	-13.18
Net Debt Issued (Repaid)	4,392	-1,609	1,400	1,803	-13.18
Issuance of Common Stock	360.53	2,709	-	-	1,352
Repurchase of Common Stock	-	-	-199.99	-	-
Common Dividends Paid	-2,740	-1,722	-609.8	-232.27	-133.07
Other Financing Activities	-3,825	-37.5	-768.54	22	-24.93
Financing Cash Flow	-1,812	-660.08	-177.88	1,593	1,181
Foreign Exchange Rate Adjustments	39.97	11.93	89.94	90.49	-20.91
Net Cash Flow	2,037	913.11	268.81	669.07	1,033
Free Cash Flow	2,699	2,898	1,332	1,394	194.66
Free Cash Flow Growth	-6.85%	117.52%	-4.47%	616.37%	-47.39%
Free Cash Flow Margin	22.08%	25.86%	17.81%	23.41%	4.67%
Free Cash Flow Per Share	2.99	3.33	1.58	1.65	0.25
Cash Income Tax Paid	83.78	158.67	193.32	29.06	47.31
Levered Free Cash Flow	-406.9	2,104	632.09	850.21	98.85
Unlevered Free Cash Flow	-406.9	2,132	677.5	868.64	99.8
Change in Working Capital	672.38	281.26	81.24	648.47	169.86

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