SHA:605169 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	103.44	121.59	173.12	153.13	160.7	200.08
Depreciation & Amortization	134.93	134.93	128.53	92.84	75.68	52.62
Other Amortization	7.57	7.57	3.24	1.19	1.22	0.26
Loss (Gain) on Sale of Assets	-0.15	-0.15	-4.5	-0.84	-0.07	-0.11
Loss (Gain) on Sale of Investments	0.87	0.87	0.56	0.18	0.89	-5.93
Asset Writedown	6.76	6.76	-0.02	1.91	2.12	1.16
Change in Accounts Receivable	-30.62	-30.62	-38.72	-16.78	-14.45	-32.82
Change in Inventory	-30.93	-30.93	2.95	-24.53	-5.97	-0.09
Change in Accounts Payable	0.13	0.13	-3.05	52.51	-5.53	31.6
Other Operating Activities	52.75	3.73	9.72	10.27	9.21	11.7
Operating Cash Flow	239.81	208.93	275.14	271.13	228.33	266.59
Operating Cash Flow Growth	-20.69%	-24.06%	1.48%	18.74%	-14.35%	52.58%
Capital Expenditures	-117.6	-115.85	-157.48	-181.86	-326.87	-360.82
Sale of Property, Plant & Equipment	1.31	1.17	4.4	0.04	0.07	0.11
Investment in Securities	-466.02	-291.21	-	-	-	4.84
Other Investing Activities	1.07	0.05	0.07	-	0.07	-
Investing Cash Flow	-581.24	-405.85	-153	-181.83	-326.73	-355.86
Long-Term Debt Issued	-	94	158.27	144.7	143.32	131.11
Total Debt Issued	120	94	158.27	144.7	143.32	131.11
Long-Term Debt Repaid	-	-190.85	-172.98	-127.6	-94.19	-88.58
Total Debt Repaid	-231.47	-190.85	-172.98	-127.6	-94.19	-88.58
Net Debt Issued (Repaid)	-111.47	-96.85	-14.71	17.1	49.13	42.53
Repurchase of Common Stock	-26.97	-26.97	-23.03	-	-	-
Common Dividends Paid	-74.67	-75.07	-64.13	-66.56	-114.61	-102.77
Other Financing Activities	33.84	-1	-1.15	-4.7	-	-0.4
Financing Cash Flow	-179.26	-199.89	-103.02	-54.16	-65.48	-60.64
Net Cash Flow	-520.7	-396.82	19.12	35.14	-163.87	-149.92
Free Cash Flow	122.21	93.08	117.66	89.26	-98.54	-94.23
Free Cash Flow Growth	-32.55%	-20.89%	31.81%	-	-	-
Free Cash Flow Margin	4.05%	2.98%	4.28%	4.74%	-6.87%	-7.82%
Free Cash Flow Per Share	0.44	0.34	0.42	0.32	-0.35	-0.33
Cash Income Tax Paid	74.31	75.67	71.9	74.4	82.87	75.5
Levered Free Cash Flow	-7.18	5.11	-18.83	17.05	-126.17	-83.18
Unlevered Free Cash Flow	-4.81	7.79	-13.48	21.7	-122.13	-79.52
Change in Working Capital	-61.27	-61.27	-37.73	11.68	-26.82	-0.57

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