SHA:600539 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	-21.85	-29.62	-77.59	43.58	14.45
Depreciation & Amortization	5.44	6.26	7.24	7.47	7.09
Other Amortization	0.4	1.25	1.93	0.57	0.24
Loss (Gain) From Sale of Assets	-0.02	-	0.41	0.08	-
Asset Writedown & Restructuring Costs	15.56	0.61	25.54	-1.14	2.84
Loss (Gain) From Sale of Investments	-1.96	-2.57	-6.39	-4.77	-2.57
Provision & Write-off of Bad Debts	1.26	-0.81	1	0.21	0.27
Other Operating Activities	2.62	-7.95	0.66	3.66	25.67
Change in Accounts Receivable	-13.9	53.71	-44.75	-29.11	-66.06
Change in Inventory	-31.14	4.27	-62.52	19.38	-10.66
Change in Accounts Payable	3.36	-29.46	57.87	9.78	14
Operating Cash Flow	-46.07	-3.43	-101.1	45.51	-13.87
Capital Expenditures	-0.62	-0.29	-0.9	-4.78	-7.05
Sale of Property, Plant & Equipment	-	-	0.01	0.33	-
Cash Acquisitions	-	-	-	-24.41	-
Divestitures	1	-	2.59	0.19	-
Investment in Securities	53.25	36.4	45.86	-92.65	-82.05
Other Investing Activities	1.42	2.14	3.67	20.97	4.21
Investing Cash Flow	55.06	38.25	51.24	-100.34	-84.89
Short-Term Debt Issued	69.88	39.57	69.98	87.63	64.83
Total Debt Issued	69.88	39.57	69.98	87.63	64.83
Short-Term Debt Repaid	-47.18	-60.44	-68.76	-92.11	-28
Long-Term Debt Repaid	-	-4.71	-4.27	-5.57	-5.67
Total Debt Repaid	-47.18	-65.15	-73.03	-97.67	-33.66
Net Debt Issued (Repaid)	22.7	-25.58	-3.05	-10.04	31.17
Issuance of Common Stock	0.55	-	-	-	-
Common Dividends Paid	-3.04	-1.64	-1.56	-1.63	-0.53
Other Financing Activities	-3.85	-9.89	-24.91	9.71	-18.45
Financing Cash Flow	16.35	-37.11	-29.52	-1.96	12.19
Foreign Exchange Rate Adjustments	-	0.28	0.22	0.87	-0.32
Net Cash Flow	25.35	-2.01	-79.16	-55.92	-86.89
Free Cash Flow	-46.69	-3.72	-101.99	40.73	-20.92
Free Cash Flow Margin	-10.60%	-0.78%	-22.26%	6.92%	-4.49%
Free Cash Flow Per Share	-0.19	-0.02	-0.45	0.19	-0.09
Cash Income Tax Paid	-	14.62	41.59	29.74	26.19
Levered Free Cash Flow	-43.95	-2.25	-61.88	16.65	-23.12
Unlevered Free Cash Flow	-42.71	-0.52	-60.39	18.13	-22.68
Change in Working Capital	-47.52	29.39	-53.89	-4.14	-61.87

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