SHA:603014 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
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
Net Income	474.39	449.37	442.07	314.96	259.82
Depreciation & Amortization	240	240	238.25	238.3	201.41
Other Amortization	5.51	5.51	7.03	6.61	5.33
Loss (Gain) From Sale of Assets	-0.2	-0.2	-0.09	0.01	-0.01
Asset Writedown & Restructuring Costs	11.06	11.06	6.2	5.61	5.62
Loss (Gain) From Sale of Investments	-0.22	-0.22	-0.11	-	-15.86
Stock-Based Compensation	10.97	10.97	27.11	52.96	71.02
Provision & Write-off of Bad Debts	38.71	38.71	19.3	25.37	-0.03
Other Operating Activities	128.05	-35.12	-25.78	-9.88	46.71
Change in Accounts Receivable	-120.61	-120.61	27.5	-188.05	-222.91
Change in Inventory	142.77	142.77	-262.4	-117.45	-101.94
Change in Accounts Payable	-170.24	-170.24	-196.98	413.24	257.92
Operating Cash Flow	760.49	572.3	288.14	727.33	504.89
Operating Cash Flow Growth	163.93%	98.62%	-60.38%	44.06%	-
Capital Expenditures	-161.29	-179.3	-232.81	-279.8	-401.25
Sale of Property, Plant & Equipment	3.78	3.88	6.87	8.1	16.88
Investment in Securities	-790	-259.91	37.54	10.2	5.58
Other Investing Activities	64.22	56	0.89	19.47	0.15
Investing Cash Flow	-883.29	-379.34	-187.51	-242.03	-378.63
Short-Term Debt Issued	-	3.18	6.64	480.07	677.95
Total Debt Issued	3.18	3.18	6.64	480.07	677.95
Short-Term Debt Repaid	-	-	-41.8	-1,238	-765.02
Long-Term Debt Repaid	-	-8.26	-7.48	-82.69	-
Total Debt Repaid	-8.26	-8.26	-49.28	-1,321	-765.02
Net Debt Issued (Repaid)	-5.08	-5.08	-42.63	-840.82	-87.08
Issuance of Common Stock	1,216	-	-	624.21	-
Common Dividends Paid	-	-	-0.49	-18.84	-42.71
Other Financing Activities	-100.39	-10.36	-4.23	13.33	-116.19
Financing Cash Flow	1,110	-15.44	-47.35	-222.11	-245.97
Foreign Exchange Rate Adjustments	1.72	-0.51	0.84	3.26	-0.9
Net Cash Flow	989.38	177.02	54.11	266.45	-120.61
Free Cash Flow	599.2	393	55.33	447.53	103.64
Free Cash Flow Growth	982.95%	610.28%	-87.64%	331.80%	-
Free Cash Flow Margin	16.21%	10.90%	1.57%	13.06%	3.56%
Free Cash Flow Per Share	1.53	1.06	0.15	1.23	0.29
Cash Income Tax Paid	333.32	343.06	302.29	203.49	265.76
Levered Free Cash Flow	-	354.35	95.24	266.53	-
Unlevered Free Cash Flow	-	354.72	95.77	277.99	-
Change in Working Capital	-147.78	-147.78	-425.84	93.38	-69.13

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