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 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	1,399	1,483	1,508	1,593	1,844	1,735
Depreciation & Amortization	892.62	892.62	888.82	802.55	695.07	586.13
Other Amortization	6.16	6.16	-	-	-	-
Loss (Gain) From Sale of Assets	-	-	-1.11	-	-	0.09
Asset Writedown & Restructuring Costs	-0.41	-0.41	0.13	0.32	0.09	-
Loss (Gain) From Sale of Investments	-196.59	-196.59	-189.31	-237.33	-213.28	-187.75
Provision & Write-off of Bad Debts	91.7	91.7	22.66	74.2	35.32	20.43
Other Operating Activities	-105.54	16.43	92.93	71.2	63.62	89.83
Change in Accounts Receivable	-677.1	-677.1	284.75	-879.3	-184.12	-1,450
Change in Inventory	-622.3	-622.3	-765.44	-58.92	-1,060	-1,222
Change in Accounts Payable	118.1	118.1	209.54	-669.32	-121.3	-1,053
Operating Cash Flow	895.08	1,101	2,045	703.53	1,071	-1,484
Operating Cash Flow Growth	-52.66%	-46.16%	190.62%	-34.29%	-	-
Capital Expenditures	-118.97	-82.92	-273.25	-1,630	-892.97	-476.26
Sale of Property, Plant & Equipment	0.06	0.04	0.56	0.04	0	-
Investment in Securities	-	-	-6.8	-1.32	-	-
Other Investing Activities	0.06	1.32	-	-	-	62.75
Investing Cash Flow	-118.84	-81.56	-279.49	-1,631	-892.97	-413.51
Long-Term Debt Issued	-	115.61	2,620	3,560	2,953	3,181
Long-Term Debt Repaid	-	-600.48	-2,577	-3,115	-3,011	-4,079
Net Debt Issued (Repaid)	-502.33	-484.88	43.25	445.47	-57.5	-897.88
Issuance of Common Stock	-	-	-	-	-	4,174
Common Dividends Paid	-482.6	-485.18	-539.35	-628.91	-588.22	-86.06
Other Financing Activities	-9.34	-	-	-	2.66	-
Financing Cash Flow	-994.27	-970.05	-496.1	-183.44	-643.06	3,190
Foreign Exchange Rate Adjustments	-9.88	15.67	-4.43	3.38	13.58	1.77
Net Cash Flow	-227.91	64.96	1,265	-1,108	-451.73	1,294
Free Cash Flow	776.11	1,018	1,771	-926.48	177.75	-1,960
Free Cash Flow Growth	-53.83%	-42.53%	-	-	-	-
Free Cash Flow Margin	7.86%	10.13%	17.63%	-9.24%	1.76%	-20.60%
Free Cash Flow Per Share	0.15	0.19	0.33	-0.17	0.03	-0.43
Cash Income Tax Paid	493.82	456.24	381.88	489.69	707.52	488.52
Levered Free Cash Flow	649.79	876.33	1,361	-665.91	-494.9	-1,107
Unlevered Free Cash Flow	669.79	896.33	1,398	-619.4	-455.19	-1,051
Change in Working Capital	-1,192	-1,192	-277.46	-1,601	-1,354	-3,728

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