SHA:600148 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
Period Ending	Sep '25 Sep 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
Net Income	9.46	-2.32	0.66	-7.05	41.26	57.22
Depreciation & Amortization	27.19	27.19	31.02	32.51	28.72	26.8
Other Amortization	1.33	1.33	0.06	0.18	0.54	0.78
Loss (Gain) From Sale of Assets	0.14	0.14	-0.06	-0.24	-	-0.35
Asset Writedown & Restructuring Costs	-	-	0.21	0.51	2.06	0.13
Loss (Gain) From Sale of Investments	-0.01	-0.01	-	-	0.13	0.07
Provision & Write-off of Bad Debts	12.64	12.64	7.71	1.34	0.58	0.39
Other Operating Activities	8.04	15	24.6	13.33	37.75	47.09
Change in Accounts Receivable	19.71	19.71	-135.55	324.27	-53.24	-86.56
Change in Inventory	18.16	18.16	-19.29	-8.25	122.11	-141.65
Change in Accounts Payable	-25.72	-25.72	34.35	-149.83	-178.27	145.32
Operating Cash Flow	67.26	62.43	-62.76	203.92	-1.22	49.8
Operating Cash Flow Growth	37.63%	-	-	-	-	-59.26%
Capital Expenditures	-19.28	-19.88	-14.98	-7.36	-8.77	-4.03
Sale of Property, Plant & Equipment	-	-	0.19	-	-	0.94
Investment in Securities	-108.76	-49.95	-	-	-	-
Investing Cash Flow	-127.44	-69.84	-14.8	-7.36	-8.77	-3.09
Short-Term Debt Issued	-	-	-	-	-	10
Long-Term Debt Issued	-	-	-	-	20	-
Total Debt Issued	-	-	-	-	20	10
Short-Term Debt Repaid	-	-	-	-	-	-10
Long-Term Debt Repaid	-	-9.25	-2	-5.33	-29.34	-
Total Debt Repaid	-9.25	-9.25	-2	-5.33	-29.34	-10
Net Debt Issued (Repaid)	-9.25	-9.25	-2	-5.33	-9.34	-
Common Dividends Paid	-	-5.58	-	-3.01	-25.97	-16.49
Other Financing Activities	-0.78	-6.25	-12.3	-16.72	-7.79	-9
Financing Cash Flow	-10.03	-21.08	-14.3	-25.06	-43.1	-25.49
Foreign Exchange Rate Adjustments	-	-	-	-	-0.07	0.17
Net Cash Flow	-70.21	-28.48	-91.86	171.5	-53.16	21.39
Free Cash Flow	47.98	42.55	-77.75	196.56	-9.98	45.76
Free Cash Flow Growth	40.87%	-	-	-	-	-51.02%
Free Cash Flow Margin	6.55%	6.16%	-11.17%	35.70%	-0.89%	3.96%
Free Cash Flow Per Share	0.34	0.30	-0.55	1.40	-0.07	0.32
Cash Income Tax Paid	16	4.89	-1.88	27.51	62.15	46.68
Levered Free Cash Flow	-70.54	-37.1	82.65	169.77	9.19	47.43
Unlevered Free Cash Flow	-69.94	-36.5	83.03	170.15	9.73	47.55
Change in Working Capital	8.47	8.47	-126.97	163.34	-112.26	-82.34

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