SHA:600238 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	-26.75	-34.18	-136.14	-149.16	-118.39	-60.14
Depreciation & Amortization	13.51	13.51	13.52	16.93	25.87	20.48
Other Amortization	2.96	2.96	4.57	6.85	7.51	0.15
Loss (Gain) From Sale of Assets	-1.05	-1.05	-3.19	2.29	-2.14	0
Asset Writedown & Restructuring Costs	9.1	9.1	21.17	-9.57	11.27	-16.91
Loss (Gain) From Sale of Investments	5.68	5.68	7.5	16.18	-20.51	-16.58
Provision & Write-off of Bad Debts	-	-	13.73	16.48	11.31	-1.19
Other Operating Activities	-0.62	20.91	12.5	54.05	23.04	-2.62
Change in Accounts Receivable	-7.2	-7.2	64.67	-40.19	27.43	-131.83
Change in Inventory	-20.27	-20.27	-11.85	56.76	-25.8	-55.1
Change in Accounts Payable	93.46	93.46	-31.63	-18.72	49.01	61.61
Change in Other Net Operating Assets	-	-	-	-1.71	-1.48	-1.45
Operating Cash Flow	74.52	88.63	-18.29	-38.54	-39.89	-206.14
Capital Expenditures	-5.97	-7.61	-7.84	-3.27	-7.06	-21.99
Sale of Property, Plant & Equipment	0	0	2.55	0.1	13.29	0
Divestitures	-	-	0	20.1	19.67	-
Investment in Securities	-	-	0.19	1.95	-4.04	12.5
Other Investing Activities	-	-	-	-	0.73	1.1
Investing Cash Flow	-5.97	-7.61	-5.1	18.88	22.59	-8.39
Long-Term Debt Issued	-	80	181	309.47	143.6	321.14
Long-Term Debt Repaid	-	-112.64	-165.97	-273.88	-186.78	-245.94
Net Debt Issued (Repaid)	-19.6	-32.64	15.03	35.59	-43.18	75.2
Issuance of Common Stock	-	-	-	18.97	-	-
Common Dividends Paid	-11.21	-11.78	-13.75	-20.85	-19.1	-16.37
Other Financing Activities	7.72	7.65	-	-	12.5	50.82
Financing Cash Flow	-23.09	-36.77	1.27	33.72	-49.78	109.64
Foreign Exchange Rate Adjustments	-	-	-	-0.06	-	-
Net Cash Flow	45.46	44.25	-22.12	14	-67.08	-104.88
Free Cash Flow	68.56	81.01	-26.13	-41.81	-46.94	-228.13
Free Cash Flow Margin	16.07%	21.82%	-14.91%	-18.62%	-11.27%	-27.37%
Free Cash Flow Per Share	-	0.17	-0.06	-0.09	-0.10	-0.49
Cash Income Tax Paid	58.81	41.32	24.43	33.96	30.77	50.54
Levered Free Cash Flow	98.57	241.92	-17.69	32.67	-28.44	-211.25
Unlevered Free Cash Flow	98.57	241.92	-7.99	44.89	-16.28	-200.87
Change in Working Capital	71.69	71.69	48.06	7.41	22.15	-129.33

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