SHA:600721 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	40.69	41.48	12.97	-34.76	59.83
Depreciation & Amortization	17.89	18.58	23.15	26.16	25.14
Other Amortization	1.83	1.8	1.89	2	2
Loss (Gain) From Sale of Assets	-0	-0.09	-0.01	-0	-0
Asset Writedown & Restructuring Costs	1.01	0.22	-0.31	-0.71	-2.4
Loss (Gain) From Sale of Investments	6.56	-3.5	-1.25	0.77	2.09
Provision & Write-off of Bad Debts	4.52	27.95	16.46	16.53	8.72
Other Operating Activities	23.1	32.02	37.17	43.07	11.44
Change in Accounts Receivable	-58.95	-1.01	-34.26	-49.84	7.01
Change in Inventory	46.27	-7.49	4.21	2.5	-16.72
Change in Accounts Payable	-51.38	-13.08	-4.05	37.01	-67.97
Change in Other Net Operating Assets	-	-1.08	3.25	7.99	2.4
Operating Cash Flow	30.42	80.29	62.08	53.18	34.72
Operating Cash Flow Growth	-62.11%	29.33%	16.74%	53.15%	-
Capital Expenditures	-18	-24.61	-17.24	-2.41	-6.04
Sale of Property, Plant & Equipment	0.06	0.07	0.02	0.02	0
Cash Acquisitions	-	-	-	-4.9	-
Investment in Securities	-3.8	-	-	-4	6
Other Investing Activities	2.53	2.47	1.57	0.73	0.33
Investing Cash Flow	-19.2	-22.08	-15.65	-10.56	0.3
Short-Term Debt Issued	-	-	-	-	6.29
Total Debt Issued	-	-	-	-	6.29
Short-Term Debt Repaid	-	-	-	-6.29	-
Total Debt Repaid	-	-	-	-6.29	-
Net Debt Issued (Repaid)	-	-	-	-6.29	6.29
Issuance of Common Stock	2.56	11.77	19.91	12.64	-
Common Dividends Paid	-	-	-	-0.12	-0.04
Financing Cash Flow	2.56	11.77	19.91	6.23	6.25
Net Cash Flow	13.78	69.98	66.34	48.85	41.27
Free Cash Flow	12.42	55.68	44.84	50.77	28.68
Free Cash Flow Growth	-77.69%	24.18%	-11.68%	77.01%	-
Free Cash Flow Margin	3.20%	14.44%	12.14%	14.51%	10.20%
Free Cash Flow Per Share	0.03	0.15	0.12	0.14	0.08
Cash Income Tax Paid	17.52	14.12	11.79	5.07	8.42
Levered Free Cash Flow	15.27	66.32	46.43	65.6	-24.76
Unlevered Free Cash Flow	15.27	66.32	46.43	65.67	-24.73
Change in Working Capital	-65.18	-38.18	-27.98	0.12	-72.09

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