SHA:603088 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	91.76	120.12	164.6	159.24	142.72	85.79
Depreciation & Amortization	34.64	34.64	20.95	22.2	22.65	22.52
Other Amortization	4.65	4.65	0.35	0.46	0.47	0.47
Loss (Gain) From Sale of Assets	-0.07	-0.07	0.01	-0.02	0.78	1.5
Asset Writedown & Restructuring Costs	0.04	0.04	-0.09	0.02	0.14	0.04
Loss (Gain) From Sale of Investments	-3.21	-3.21	-3.36	-5.82	-4.32	-1.54
Provision & Write-off of Bad Debts	-0.72	-0.72	8.65	11.88	3.92	5.62
Other Operating Activities	73.61	13.18	13.84	-3.03	0.34	15.95
Change in Accounts Receivable	-59.08	-59.08	-42.4	-42.2	-50.29	-97.53
Change in Inventory	-16.3	-16.3	28.18	-9.47	-90.59	-60.62
Change in Accounts Payable	110.37	110.37	-77.15	26.35	120.65	193.54
Change in Other Net Operating Assets	5.18	5.18	4.71	11.74	8.33	-
Operating Cash Flow	239.7	207.62	117.5	168.01	152.45	166.27
Operating Cash Flow Growth	153.04%	76.69%	-30.06%	10.20%	-8.31%	42.67%
Capital Expenditures	-33.15	-19.04	-22.53	-8.27	-43.11	-20.83
Sale of Property, Plant & Equipment	0.15	0.15	0.22	0.2	0.75	0.15
Cash Acquisitions	-125.35	-125.35	-	-	-	-
Investment in Securities	-14.52	-15.66	-44.63	-51.43	107.12	-188.57
Other Investing Activities	2.75	2.87	3.08	5.18	0.7	2.47
Investing Cash Flow	-170.12	-157.02	-63.86	-54.32	65.45	-206.77
Short-Term Debt Issued	-	-	-	-	1	48.6
Long-Term Debt Issued	-	-	-	6.24	-	-
Total Debt Issued	-	-	-	6.24	1	48.6
Short-Term Debt Repaid	-	-	-	-18.74	-	-20
Long-Term Debt Repaid	-	-5.73	-3	-0.16	-55.52	-0.61
Total Debt Repaid	-5.73	-5.73	-3	-18.9	-55.52	-20.61
Net Debt Issued (Repaid)	-5.73	-5.73	-3	-12.65	-54.52	27.99
Issuance of Common Stock	179.38	179.38	-	0.23	28.5	-
Repurchase of Common Stock	-	-	-0.06	-	-	-
Common Dividends Paid	-126.63	-127.06	-126.99	-97.04	-57.77	-99.45
Other Financing Activities	-6.42	-6.04	-	-	22.24	20.94
Financing Cash Flow	40.6	40.56	-130.05	-109.46	-61.55	-50.53
Foreign Exchange Rate Adjustments	-6.1	-0.13	0.42	10.76	10.45	-6.37
Net Cash Flow	104.09	91.03	-75.99	14.99	166.81	-97.39
Free Cash Flow	206.55	188.58	94.97	159.73	109.34	145.45
Free Cash Flow Growth	180.29%	98.57%	-40.54%	46.09%	-24.82%	28.73%
Free Cash Flow Margin	24.02%	21.41%	11.62%	22.54%	16.81%	27.25%
Free Cash Flow Per Share	0.42	0.39	0.22	0.36	0.25	0.34
Cash Income Tax Paid	63.63	54.73	49.01	47.88	37.35	32.81
Levered Free Cash Flow	18.19	46.69	26.11	113.01	98.16	115.18
Unlevered Free Cash Flow	18.27	46.77	26.15	113.44	99.71	116.16
Change in Working Capital	39.95	39.95	-89.01	-16.92	-14.25	35.93

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