SHA:601026 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	210.49	154.83	154.81	110.48	85.49	137.51
Depreciation & Amortization	66.65	66.65	43.27	35.59	21.91	6.93
Other Amortization	10.58	10.58	9.19	7.95	2.25	4.65
Loss (Gain) From Sale of Assets	-0.54	-0.54	-0.41	-0.29	-	-0.11
Asset Writedown & Restructuring Costs	0.07	0.07	0.23	0.21	4.23	103.85
Loss (Gain) From Sale of Investments	2.4	2.4	-0.95	0.03	-0.89	-0.01
Provision & Write-off of Bad Debts	5.57	5.57	-21.5	24.26	-	-
Other Operating Activities	-323.37	27.8	36.32	28.58	12.18	8.31
Change in Accounts Receivable	-15.93	-15.93	78.75	-875.94	-206.46	-1,018
Change in Inventory	-58.74	-58.74	-17.34	38.48	-109.25	-147.17
Change in Accounts Payable	207.69	207.69	-335.38	273.97	-161.85	893.45
Change in Other Net Operating Assets	7.29	7.29	12	3.54	5.72	33.52
Operating Cash Flow	105.78	401.29	-37.73	-354.98	-344.89	15.61
Capital Expenditures	-49.95	-114.26	-251.35	-349.07	-93.63	-38.42
Sale of Property, Plant & Equipment	0.29	0.66	0.71	0.5	-	0.11
Investment in Securities	-	-14.75	184	-202.8	-2.48	-0.35
Other Investing Activities	0.56	0.01	2.2	-	-12.19	-9.41
Investing Cash Flow	-49.1	-128.34	-64.43	-551.38	-108.31	-48.07
Long-Term Debt Issued	-	296.49	203.5	356	94.61	43.1
Long-Term Debt Repaid	-	-211.03	-135.96	-132.11	-40	-3.1
Net Debt Issued (Repaid)	36.85	85.46	67.54	223.89	54.61	40
Issuance of Common Stock	-	-	-	623.5	3.6	27.79
Common Dividends Paid	-14.39	-16.4	-76.01	-36.43	-162.59	-40.68
Other Financing Activities	16.39	52.84	-22.8	187.69	242.59	324.8
Financing Cash Flow	38.85	121.9	-31.27	998.65	138.2	351.91
Foreign Exchange Rate Adjustments	0.04	0.06	0.03	0.03	-0.05	0
Net Cash Flow	95.58	394.9	-133.4	92.33	-315.04	319.46
Free Cash Flow	55.83	287.03	-289.08	-704.05	-438.52	-22.81
Free Cash Flow Margin	1.47%	8.86%	-9.03%	-20.49%	-14.03%	-0.69%
Free Cash Flow Per Share	0.10	0.54	-0.54	-1.66	-1.03	-0.06
Cash Income Tax Paid	62.14	-10	65.83	51.37	75.36	74.46
Levered Free Cash Flow	-	365.67	-330.15	-390.09	-15.92	-
Unlevered Free Cash Flow	-	374.88	-320.27	-379.56	-8.34	-
Change in Working Capital	135.83	135.83	-258.95	-564.87	-470.06	-245.51

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