SHA:603022 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	52.46	49.84	51.68	35.13	20.59	35.97
Depreciation & Amortization	37.2	37.2	34.44	30.05	26.05	19.57
Other Amortization	2.77	2.77	3.06	3.57	2.36	3.71
Loss (Gain) From Sale of Assets	-0.29	-0.29	0.09	-0.27	0.2	0.09
Asset Writedown & Restructuring Costs	4.62	4.62	0.88	0.3	-1.12	-3.78
Loss (Gain) From Sale of Investments	-0.51	-0.51	-0.31	-	-0.42	-0.65
Provision & Write-off of Bad Debts	2.04	2.04	0.28	3.53	-	-
Other Operating Activities	-43.14	10.12	7.84	7.49	2.44	2.93
Change in Accounts Receivable	-62.15	-62.15	-11.57	-51.66	16.29	-37.95
Change in Inventory	-16.27	-16.27	19.43	-1.71	-21.23	1.94
Change in Accounts Payable	48.11	48.11	6.36	33.22	-11.67	22.97
Change in Other Net Operating Assets	1.09	1.09	-	-	-	-
Operating Cash Flow	21.78	72.43	111.46	59.16	33.56	44.52
Operating Cash Flow Growth	-79.68%	-35.02%	88.41%	76.28%	-24.62%	-47.48%
Capital Expenditures	-63.51	-49.48	-34.27	-41.77	-39.6	-57.87
Sale of Property, Plant & Equipment	0.67	0.67	-	0.08	1.41	0.06
Cash Acquisitions	-	-	-	-5.1	-	-
Investment in Securities	35.58	-	-20	6.66	-375	2.73
Other Investing Activities	1.82	1.82	-	-	53.29	0.65
Investing Cash Flow	-25.43	-46.99	-54.27	-40.13	-359.89	-54.43
Short-Term Debt Issued	-	59	50	59	458	69
Total Debt Issued	79	59	50	59	458	69
Short-Term Debt Repaid	-	-59	-59	-76.25	-69	-69
Long-Term Debt Repaid	-	-12.19	-9.43	-7.07	-4.61	-
Total Debt Repaid	-91.19	-71.19	-68.43	-83.33	-73.61	-69
Net Debt Issued (Repaid)	-12.19	-12.19	-18.43	-24.33	384.39	-
Issuance of Common Stock	-	-	-	4.6	0.5	-
Common Dividends Paid	-16.93	-17.02	-12.87	-1.86	-	-
Other Financing Activities	2.12	-	-	4.9	-2.73	-2.93
Financing Cash Flow	-27	-29.21	-31.3	-16.69	382.16	-2.93
Foreign Exchange Rate Adjustments	1.64	3.67	0.18	6.77	-5.98	-0.82
Net Cash Flow	-29.02	-0.11	26.07	9.11	49.85	-13.67
Free Cash Flow	-41.74	22.94	77.18	17.38	-6.04	-13.35
Free Cash Flow Growth	-	-70.27%	344.02%	-	-	-
Free Cash Flow Margin	-4.39%	2.62%	8.94%	2.19%	-0.83%	-1.96%
Free Cash Flow Per Share	-0.21	0.12	0.39	0.09	-0.03	-0.07
Cash Interest Paid	-	-	-	-	2.73	2.93
Cash Income Tax Paid	57.95	57.47	46.61	32.06	30.77	29.35
Levered Free Cash Flow	-61.16	4.81	62.41	373.68	-378.03	-27.96
Unlevered Free Cash Flow	-60.38	6.08	63.62	374.83	-376.33	-26.13
Change in Working Capital	-33.37	-33.37	13.49	-20.63	-16.53	-13.34

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