SHA:688425 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2017 - 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2017 - 2019
Net Income	1,520	1,508	1,593	1,844	1,735	1,567	Upgrade
Depreciation & Amortization	856.97	883.63	802.55	695.07	586.13	357.85	Upgrade
Other Amortization	5.19	5.19	-	-	-	-	Upgrade
Loss (Gain) From Sale of Assets	-1.11	-1.11	-	-	0.09	-	Upgrade
Asset Writedown & Restructuring Costs	28.66	28.66	0.32	0.09	-	1.04	Upgrade
Loss (Gain) From Sale of Investments	-195.44	-189.31	-237.33	-213.28	-187.75	-280.07	Upgrade
Provision & Write-off of Bad Debts	50.42	22.66	74.2	35.32	20.43	20.78	Upgrade
Other Operating Activities	33.33	64.4	71.2	63.62	89.83	52.79	Upgrade
Change in Accounts Receivable	612.89	284.75	-879.3	-184.12	-1,450	-1,246	Upgrade
Change in Inventory	-437.55	-765.44	-58.92	-1,060	-1,222	-1,435	Upgrade
Change in Accounts Payable	-567.07	209.54	-669.32	-121.3	-1,053	703.02	Upgrade
Operating Cash Flow	1,885	2,045	703.53	1,071	-1,484	-334.84	Upgrade
Operating Cash Flow Growth	214.32%	190.62%	-34.29%	-	-	-	Upgrade
Capital Expenditures	15.37	-273.25	-1,630	-892.97	-476.26	-324.48	Upgrade
Sale of Property, Plant & Equipment	0.58	0.56	0.04	0	-	-	Upgrade
Investment in Securities	-	-6.8	-1.32	-	-	-19.7	Upgrade
Other Investing Activities	1.26	-	-	-	62.75	0.92	Upgrade
Investing Cash Flow	17.21	-279.49	-1,631	-892.97	-413.51	-343.26	Upgrade
Long-Term Debt Issued	-	2,620	3,560	2,953	3,181	2,276	Upgrade
Long-Term Debt Repaid	-	-2,577	-3,115	-3,011	-4,079	-1,069	Upgrade
Net Debt Issued (Repaid)	-920.65	43.25	445.47	-57.5	-897.88	1,207	Upgrade
Issuance of Common Stock	-	-	-	-	4,174	-	Upgrade
Common Dividends Paid	-526.7	-539.35	-628.91	-588.22	-86.06	-1,457	Upgrade
Other Financing Activities	-0.2	-	-	2.66	-	-	Upgrade
Financing Cash Flow	-1,448	-496.1	-183.44	-643.06	3,190	-250.1	Upgrade
Foreign Exchange Rate Adjustments	14.24	-4.43	3.38	13.58	1.77	-2.33	Upgrade
Net Cash Flow	468.54	1,265	-1,108	-451.73	1,294	-930.53	Upgrade
Free Cash Flow	1,900	1,771	-926.48	177.75	-1,960	-659.32	Upgrade
Free Cash Flow Margin	18.85%	17.63%	-9.24%	1.76%	-20.60%	-8.66%	Upgrade
Free Cash Flow Per Share	0.35	0.33	-0.17	0.03	-0.43	-0.17	Upgrade
Cash Income Tax Paid	381.88	381.88	489.69	707.52	488.52	390.25	Upgrade
Levered Free Cash Flow	2,214	1,329	-665.91	-494.9	-1,107	-1,011	Upgrade
Unlevered Free Cash Flow	2,244	1,366	-619.4	-455.19	-1,051	-978.7	Upgrade
Change in Working Capital	-413.8	-277.46	-1,601	-1,354	-3,728	-2,054	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.