SHA:603048 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	31.16	53.36	45.86	20.89	99.08
Depreciation & Amortization	77.27	74.55	56.44	50.27	43.74
Other Amortization	1.55	0.09	0.09	0.04	-
Loss (Gain) From Sale of Assets	2.5	0.04	-0.01	0.12	0.1
Asset Writedown & Restructuring Costs	10.52	-	0.71	11.59	-2.22
Loss (Gain) From Sale of Investments	-7.5	-12.16	-6.28	-5.51	0.44
Provision & Write-off of Bad Debts	1.25	-0.38	1.75	-	-
Other Operating Activities	19.27	15.32	19.64	4.41	8.64
Change in Accounts Receivable	-20.77	29.77	-158.61	27.77	-55.09
Change in Inventory	-45.15	-19.97	-1.38	-2.3	-72.91
Change in Accounts Payable	22.49	-28.19	129.02	-7.7	75.42
Operating Cash Flow	92.8	112.89	90.95	97.4	100.16
Operating Cash Flow Growth	-17.80%	24.13%	-6.62%	-2.76%	-26.10%
Capital Expenditures	-46.1	-46.54	-102.09	-215.4	-103.26
Sale of Property, Plant & Equipment	0.17	0.36	0.01	0.23	1.71
Investment in Securities	-44.57	-2.33	-2.23	188.33	-245
Other Investing Activities	-	-	1.11	4.85	4.68
Investing Cash Flow	-90.51	-48.5	-98.2	-27	-341.87
Short-Term Debt Issued	103.97	70	96	149	198.97
Total Debt Issued	103.97	70	96	149	198.97
Short-Term Debt Repaid	-86.97	-113	-165.99	-42.51	-368.24
Long-Term Debt Repaid	-1.88	-1.22	-0.76	-0.7	-0.12
Total Debt Repaid	-88.85	-114.22	-166.75	-43.21	-368.36
Net Debt Issued (Repaid)	15.12	-44.22	-70.75	105.79	-169.39
Issuance of Common Stock	-	-	-	-	592.3
Repurchase of Common Stock	-	-10	-	-	-
Common Dividends Paid	-41.97	-63.16	-34.41	-35.11	-29.35
Other Financing Activities	1.5	1.02	-	-4.83	-25.43
Financing Cash Flow	-25.36	-116.37	-105.16	65.85	368.13
Foreign Exchange Rate Adjustments	3.34	-0.99	0.45	0.34	0.29
Net Cash Flow	-19.73	-52.97	-111.96	136.59	126.7
Free Cash Flow	46.69	66.35	-11.14	-118	-3.1
Free Cash Flow Growth	-29.63%	-	-	-	-
Free Cash Flow Margin	6.42%	10.29%	-1.82%	-22.78%	-0.52%
Free Cash Flow Per Share	0.32	0.45	-0.07	-0.79	-0.03
Cash Income Tax Paid	45.95	41.64	34.8	8.7	43.11
Levered Free Cash Flow	50.26	61.4	-22.49	-120.14	-24.3
Unlevered Free Cash Flow	51.05	62.54	-20.38	-116.9	-18.6
Change in Working Capital	-43.21	-17.93	-27.25	15.58	-49.61

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