SHA:600193 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	-188.22	-193.38	-21.14	6.22	19.82	57.94
Depreciation & Amortization	1.54	1.54	0.18	0.49	1.74	1.46
Other Amortization	0.24	0.24	-	-	-	-
Loss (Gain) From Sale of Assets	0.23	0.23	-	-	-	-
Asset Writedown & Restructuring Costs	1.89	1.89	-	0.53	5.65	7.03
Loss (Gain) From Sale of Investments	-2.92	-2.92	3.09	-3.68	1.1	-27.48
Provision & Write-off of Bad Debts	173.21	173.21	14.46	8.35	2.52	11.23
Other Operating Activities	-14.64	2.62	4.06	3.62	8.5	17.78
Change in Accounts Receivable	-28.64	-28.64	-35.46	-77.87	-25.48	-757.93
Change in Inventory	-	-	0.06	-0.04	0.11	465.03
Change in Accounts Payable	34.33	34.33	0.87	23.42	-16.33	134.18
Change in Unearned Revenue	-0.08	-0.08	0.1	-24.36	-6.45	30.95
Change in Other Net Operating Assets	-0.08	-0.08	-	-	-	-
Operating Cash Flow	-18.88	-6.78	-34.14	-66.21	-9.96	-45.28
Capital Expenditures	-1.93	-10.04	-0.91	-	-0.02	-0.02
Sale of Property, Plant & Equipment	4.21	0.6	-	-	-	-
Cash Acquisitions	-0.15	-0.15	-	-	-	-
Divestitures	-	-	-	68.81	-	-
Investment in Securities	-1.37	-	8	-	-	-
Investing Cash Flow	0.76	-9.59	7.09	68.81	-0.02	-0.02
Short-Term Debt Issued	-	40	25	20	18.9	117.4
Total Debt Issued	26.13	40	25	20	18.9	117.4
Short-Term Debt Repaid	-	-42.75	-	-18.9	-18.4	-151.55
Long-Term Debt Repaid	-	-0.64	-0.34	-	-	-
Total Debt Repaid	-21.16	-43.4	-0.34	-18.9	-18.4	-151.55
Net Debt Issued (Repaid)	4.97	-3.4	24.66	1.1	0.5	-34.15
Common Dividends Paid	-1.41	-1.42	-1.5	-1.19	-3.66	-5.52
Other Financing Activities	29.89	20	-9.35	7.96	-2.42	15.19
Financing Cash Flow	33.44	15.18	13.81	7.88	-5.58	-24.48
Net Cash Flow	15.32	-1.19	-13.25	10.48	-15.56	-69.79
Free Cash Flow	-20.81	-16.82	-35.05	-66.21	-9.98	-45.31
Free Cash Flow Margin	-36.55%	-20.02%	-26.90%	-25.11%	-1.45%	-4.13%
Free Cash Flow Per Share	-0.05	-0.04	-0.08	-0.16	-0.03	-0.11
Cash Income Tax Paid	1.81	4.04	4.75	-0.25	12.09	20.52
Levered Free Cash Flow	123.05	62.81	-28.27	26.14	-14.68	-7.52
Unlevered Free Cash Flow	125.42	64.47	-26.34	29.42	-11.36	-1.99
Change in Working Capital	9.79	9.79	-34.79	-81.73	-49.28	-113.24

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