SHA:600255 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	39.18	62.35	-61.26	97.73	58.86
Depreciation & Amortization	142.93	130.59	108.27	79.12	81.84
Other Amortization	1.03	0.44	0.08	-	-
Loss (Gain) From Sale of Assets	-4.58	-13.72	0.82	-104.58	0.53
Asset Writedown & Restructuring Costs	0.27	-	-	0.03	0.02
Loss (Gain) From Sale of Investments	2	2.23	0.24	21.83	-1.92
Other Operating Activities	34.16	49.53	47.82	42.87	47.27
Change in Accounts Receivable	-142.97	-98.06	-106.13	-77.11	25.07
Change in Inventory	-111.34	-202.73	68.21	-23.82	-194.75
Change in Accounts Payable	-26.49	30.54	-28.32	132.43	-178.28
Change in Other Net Operating Assets	-	-	3.13	16.19	20.4
Operating Cash Flow	-92.87	-64.53	32.05	197.69	-141.15
Operating Cash Flow Growth	-	-	-83.79%	-	-
Capital Expenditures	-233.41	-87.24	-196.92	-384.34	-198.13
Sale of Property, Plant & Equipment	13.11	19.98	0.13	119.78	32.76
Investment in Securities	-9.6	7.36	-12.26	-16.31	-10.98
Other Investing Activities	-5.1	-	6.74	10.73	11.34
Investing Cash Flow	-235	-59.89	-202.31	-270.14	-165.01
Long-Term Debt Issued	1,295	842.38	654	636.88	636.65
Total Debt Issued	1,295	842.38	654	636.88	636.65
Long-Term Debt Repaid	-844.3	-635.19	-609.05	-574.47	-436.63
Total Debt Repaid	-844.3	-635.19	-609.05	-574.47	-436.63
Net Debt Issued (Repaid)	450.89	207.2	44.95	62.41	200.02
Issuance of Common Stock	-	-	0.38	68.27	35.94
Common Dividends Paid	-34.11	-29.18	-32.5	-26.01	-22.55
Other Financing Activities	-10.46	-110.47	158.27	-86.49	149.93
Financing Cash Flow	406.32	67.54	171.1	18.19	363.34
Foreign Exchange Rate Adjustments	-0.19	7.11	2.37	-2.64	-0.8
Net Cash Flow	78.27	-49.77	3.21	-56.91	56.38
Free Cash Flow	-326.28	-151.76	-164.87	-186.65	-339.28
Free Cash Flow Margin	-6.87%	-3.83%	-5.15%	-6.03%	-10.45%
Free Cash Flow Per Share	-0.21	-0.07	-0.08	-0.10	-0.17
Cash Income Tax Paid	39.05	-95.53	-109.81	-42.94	-44.52
Levered Free Cash Flow	-389.91	-136.2	-222.06	-104.05	-291.95
Unlevered Free Cash Flow	-389.91	-107.62	-196.71	-80.35	-272.65
Change in Working Capital	-307.85	-295.96	-63.91	60.68	-327.76

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