SHA:603137 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	-46.37	-35.02	93.35	127.2	117.86	88.98
Depreciation & Amortization	17.44	17.44	17.13	16.97	14.53	14.92
Other Amortization	2.03	2.03	1.66	0.28	1.7	1.39
Loss (Gain) From Sale of Assets	-0.05	-0.05	-0.4	-	-0.29	-
Asset Writedown & Restructuring Costs	0.16	0.16	0.23	0.41	-	28.39
Loss (Gain) From Sale of Investments	-2.69	-2.69	-1.7	0.64	-	-
Provision & Write-off of Bad Debts	96.53	96.53	45.67	11.22	30.56	-
Other Operating Activities	169.9	17.3	16.69	23.57	21.02	17.76
Change in Accounts Receivable	51.16	51.16	-365.73	-400.84	-533.11	-458.54
Change in Inventory	58.8	58.8	-16.38	10.31	-6.87	-10.82
Change in Accounts Payable	-489.88	-489.88	14.93	292.21	160.15	365.18
Operating Cash Flow	-157.14	-298.39	-201.42	80.39	-198.66	42.97
Operating Cash Flow Growth	-	-	-	-	-	-1.47%
Capital Expenditures	-7.97	-9.19	-18.83	-28.86	-18.51	-51.66
Sale of Property, Plant & Equipment	0.07	-	-	0.05	-	-
Investment in Securities	169	169	10	-250	-	-
Other Investing Activities	4.29	4.29	6.23	0.27	-	-
Investing Cash Flow	165.39	164.1	-2.6	-278.54	-18.51	-51.66
Long-Term Debt Issued	-	643.98	646.82	619.05	662.94	582.75
Long-Term Debt Repaid	-	-542.36	-567.56	-751.42	-367.54	-533.69
Net Debt Issued (Repaid)	244.65	101.62	79.26	-132.37	295.4	49.06
Issuance of Common Stock	-	-	-	479.28	-	-
Common Dividends Paid	-32.21	-31.87	-42.05	-21.21	-23.09	-17.35
Other Financing Activities	-0.63	-0.63	-0.89	-18.53	-2	-4.86
Financing Cash Flow	211.82	69.12	36.32	307.17	270.31	26.84
Net Cash Flow	220.07	-65.17	-167.69	109.02	53.13	18.15
Free Cash Flow	-165.11	-307.58	-220.25	51.53	-217.18	-8.69
Free Cash Flow Margin	-12.73%	-20.72%	-10.20%	2.33%	-11.17%	-0.42%
Free Cash Flow Per Share	-0.90	-1.67	-1.20	0.31	-1.58	-0.06
Cash Interest Paid	0.46	0.46	0.15	1.27	-	-
Cash Income Tax Paid	31.83	32.36	46.25	54.01	28.98	40.65
Levered Free Cash Flow	-172.92	-337.62	-301.03	38.25	-234.83	-82.69
Unlevered Free Cash Flow	-161.78	-326.87	-291.08	51.35	-220.28	-71.75
Change in Working Capital	-394.08	-394.08	-374.06	-99.89	-384.04	-108.48

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