SHA:600281 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	-29.63	-186.17	-199.67	-36.73	-44.73	41.6
Depreciation & Amortization	37.63	37.63	29.81	12.88	4.21	3.49
Other Amortization	2.6	2.6	2.53	-	-	-
Loss (Gain) From Sale of Assets	-	-	-	-	-	-0
Asset Writedown & Restructuring Costs	6.77	6.77	-	0.04	-	-
Loss (Gain) From Sale of Investments	-0.1	-0.1	-0.51	-0.52	11.42	0.04
Provision & Write-off of Bad Debts	2.63	2.63	-0.78	-7.68	1.72	1.08
Other Operating Activities	-212.94	34.09	96.59	33.51	40.58	31.43
Change in Accounts Receivable	14.32	14.32	0.03	-52.7	-71.2	7.91
Change in Inventory	30.96	30.96	-24.51	-45.83	-34.65	-7.4
Change in Accounts Payable	-8.8	-8.8	-55.32	77.12	17.42	-10.58
Operating Cash Flow	-128.09	-37.6	-144.74	-24.55	-85.28	81.12
Capital Expenditures	-7.28	-26.5	-51.77	-233.39	-74.67	-4.77
Sale of Property, Plant & Equipment	74.93	3.63	-	0	0	7.94
Investment in Securities	-	-	-	132.66	87.54	-
Investing Cash Flow	67.65	-22.87	-51.77	-100.73	12.86	3.17
Short-Term Debt Issued	-	-	-	-	300	196
Long-Term Debt Issued	-	225.65	391.8	361.07	251	2
Total Debt Issued	160.84	225.65	391.8	361.07	551	198
Short-Term Debt Repaid	-	-	-	-	-300	-290
Long-Term Debt Repaid	-	-146.81	-218.09	-301.16	-196	-28
Total Debt Repaid	-181.04	-146.81	-218.09	-301.16	-496	-318
Net Debt Issued (Repaid)	-20.19	78.84	173.71	59.91	55	-120
Common Dividends Paid	-23.77	-23.25	-20.16	-19.46	-8.33	-17.04
Other Financing Activities	46.85	-	-1.56	-	-0.5	-
Financing Cash Flow	2.89	55.6	151.99	40.45	46.17	-137.04
Net Cash Flow	-57.56	-4.87	-44.52	-84.83	-26.25	-52.74
Free Cash Flow	-135.38	-64.1	-196.51	-257.94	-159.96	76.36
Free Cash Flow Margin	-29.17%	-16.57%	-72.63%	-78.66%	-57.12%	19.65%
Free Cash Flow Per Share	-0.26	-0.13	-0.38	-0.50	-0.31	0.15
Cash Income Tax Paid	8.8	1.67	-3.92	-26.89	9.1	17.68
Levered Free Cash Flow	-121.41	-13.56	-150.29	-17.66	-247.84	-26.35
Unlevered Free Cash Flow	-105.91	1.65	-137.15	-5.68	-243.21	-16.54
Change in Working Capital	64.94	64.94	-72.71	-26.05	-98.49	3.49

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