SHA:600238 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-34.18	-136.14	-149.16	-118.39	-60.14
Depreciation & Amortization	13.51	13.52	16.93	25.87	20.48
Other Amortization	2.96	4.57	6.85	7.51	0.15
Loss (Gain) From Sale of Assets	-1.05	-3.19	2.29	-2.14	0
Asset Writedown & Restructuring Costs	9.1	21.17	-9.57	11.27	-16.91
Loss (Gain) From Sale of Investments	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	20.91	12.5	54.05	23.04	-2.62
Change in Accounts Receivable	-7.2	64.67	-40.19	27.43	-131.83
Change in Inventory	-20.27	-11.85	56.76	-25.8	-55.1
Change in Accounts Payable	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	88.63	-18.29	-38.54	-39.89	-206.14
Capital Expenditures	-7.61	-7.84	-3.27	-7.06	-21.99
Sale of Property, Plant & Equipment	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	-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)	-32.64	15.03	35.59	-43.18	75.2
Issuance of Common Stock	-	-	18.97	-	-
Common Dividends Paid	-11.78	-13.75	-20.85	-19.1	-16.37
Other Financing Activities	7.65	-	-	12.5	50.82
Financing Cash Flow	-36.77	1.27	33.72	-49.78	109.64
Foreign Exchange Rate Adjustments	-	-	-0.06	-	-
Net Cash Flow	44.25	-22.12	14	-67.08	-104.88
Free Cash Flow	81.01	-26.13	-41.81	-46.94	-228.13
Free Cash Flow Margin	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	41.32	24.43	33.96	30.77	50.54
Levered Free Cash Flow	241.92	-17.69	32.67	-28.44	-211.25
Unlevered Free Cash Flow	241.92	-7.99	44.89	-16.28	-200.87
Change in Working Capital	71.69	48.06	7.41	22.15	-129.33

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