SHA:603208 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	-194.95	108.86	389.93	-298.51	256.9
Depreciation & Amortization	133.44	131.15	132.62	115.56	94.65
Other Amortization	-	3.39	-	-	-
Loss (Gain) From Sale of Assets	3.06	2.13	-0.02	-0.02	0.01
Asset Writedown & Restructuring Costs	94.87	7.28	7.99	20.54	12.83
Loss (Gain) From Sale of Investments	-4.9	1.29	13.63	18.06	27.17
Provision & Write-off of Bad Debts	-	133.09	107.06	539.45	130.1
Other Operating Activities	149.95	30.36	30.46	14.94	14.82
Change in Accounts Receivable	187.99	-60.34	-207.42	-227.74	-480.15
Change in Inventory	109.77	134.26	31.17	0.66	-86.08
Change in Accounts Payable	-524.08	-448.76	-3.67	348.56	46.69
Operating Cash Flow	-65.65	34.62	423.95	522.93	-17.86
Operating Cash Flow Growth	-	-91.83%	-18.93%	-	-
Capital Expenditures	-17.98	-44.73	-101.4	-227.29	-378.99
Sale of Property, Plant & Equipment	15.65	5.58	0.08	0.03	0.26
Investment in Securities	2.23	2.6	-3.71	2.4	-2.44
Other Investing Activities	6.69	5.82	-	-	-
Investing Cash Flow	6.59	-30.74	-105.03	-224.01	-383.77
Short-Term Debt Issued	-	-	-	-	581.37
Long-Term Debt Issued	83.52	41.68	138.16	100.78	709.79
Total Debt Issued	83.52	41.68	138.16	100.78	1,291
Short-Term Debt Repaid	-	-	-	-42	-299.64
Long-Term Debt Repaid	-106	-123.36	-36.17	-175.74	-73.43
Total Debt Repaid	-106	-123.36	-36.17	-217.74	-373.07
Net Debt Issued (Repaid)	-22.48	-81.68	101.99	-116.96	918.09
Repurchase of Common Stock	-	-	-	-50.92	-
Common Dividends Paid	-42.18	-320.33	-277.06	-85.44	-133.69
Other Financing Activities	-	-69.93	-	-0.33	-11.42
Financing Cash Flow	-64.65	-471.94	-175.08	-253.64	772.98
Foreign Exchange Rate Adjustments	0.71	0.96	0.76	1.62	-0.89
Net Cash Flow	-123	-467.1	144.6	46.9	370.46
Free Cash Flow	-83.63	-10.11	322.55	295.64	-396.85
Free Cash Flow Growth	-	-	9.10%	-	-
Free Cash Flow Margin	-5.15%	-0.34%	8.63%	9.21%	-12.57%
Free Cash Flow Per Share	-0.48	-0.06	1.84	1.67	-2.20
Cash Interest Paid	-	-	-	0.33	3.44
Cash Income Tax Paid	60	179.66	219.09	245.36	267.79
Levered Free Cash Flow	-	-59.45	106.63	382.99	-129.04
Unlevered Free Cash Flow	-	-39.35	127.99	397.76	-121.38
Change in Working Capital	-247.13	-382.93	-257.72	112.9	-554.32

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.