SHA:600365 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	-66.84	-49.88	-72.84	-51.74	3.76	-67.92
Depreciation & Amortization	16.97	16.97	17.54	18.66	16.88	13.67
Other Amortization	1.28	1.28	0.79	0.71	1.34	0.86
Loss (Gain) From Sale of Assets	-0.04	-0.04	-1.16	-	0.26	-
Asset Writedown & Restructuring Costs	0.09	0.09	0.27	0.7	-	3.13
Loss (Gain) From Sale of Investments	10.02	10.02	-4.33	-	-	-
Provision & Write-off of Bad Debts	2.74	2.74	-0.55	4.42	6	13.32
Other Operating Activities	47.64	17.02	15.19	12.33	0.91	45.37
Change in Accounts Receivable	-747.26	-747.26	-197.78	11.43	-363.23	-241.67
Change in Inventory	-21.11	-21.11	60.03	-1.28	-22.5	42.96
Change in Accounts Payable	267.09	267.09	-263.23	-398.32	105.98	13.7
Operating Cash Flow	-488.7	-502.36	-445.95	-404.16	-250.45	-176.91
Capital Expenditures	0.28	-1.89	-3.23	-5.32	-23.66	-
Sale of Property, Plant & Equipment	0.2	0.02	0.03	0	7.81	0.06
Cash Acquisitions	0.01	0.01	-	-	-	-
Divestitures	-0.11	-0.11	-	-	-	-
Investment in Securities	-1.39	-	-	-3.05	-	-5.64
Other Investing Activities	4.34	4.33	-	0	-	1.57
Investing Cash Flow	3.32	2.36	-3.19	-8.36	-15.84	-4
Short-Term Debt Issued	-	903.22	690.61	617.02	-	-
Long-Term Debt Issued	-	58.14	75.83	37.11	54.12	132.14
Total Debt Issued	1,015	961.35	766.44	654.13	54.12	132.14
Short-Term Debt Repaid	-	-399.85	-220.54	-231.76	-	-
Long-Term Debt Repaid	-	-67.94	-82.01	-60.52	-47.1	-37.3
Total Debt Repaid	-526.39	-467.79	-302.54	-292.27	-47.1	-37.3
Net Debt Issued (Repaid)	488.53	493.56	463.9	361.85	7.03	94.84
Issuance of Common Stock	67.41	-	4.54	57.66	-	-
Common Dividends Paid	-13.18	-5.7	-8.31	-4.33	-55.92	-3.83
Other Financing Activities	-81.7	-	-	-	293.45	95.75
Financing Cash Flow	461.05	487.85	460.13	415.18	244.56	186.76
Net Cash Flow	-24.33	-12.15	10.98	2.65	-21.74	5.84
Free Cash Flow	-488.43	-504.25	-449.18	-409.48	-274.11	-176.91
Free Cash Flow Margin	-63.11%	-58.10%	-52.87%	-49.87%	-40.41%	-29.09%
Free Cash Flow Per Share	-1.17	-1.21	-1.05	-1.03	-0.73	-0.44
Cash Income Tax Paid	31.2	35.85	44.91	38.39	38.02	37.59
Levered Free Cash Flow	-6.29	-111.41	57.39	-22.98	208.28	69.37
Unlevered Free Cash Flow	3.97	-102.96	66.78	-16.14	212.65	74.83
Change in Working Capital	-500.56	-500.56	-400.87	-389.24	-279.6	-185.35

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