SHA:603239 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	194.2	171.73	151.04	126.2	141.83	106.56
Depreciation & Amortization	58.97	58.97	50.55	46.86	43.99	37.98
Other Amortization	5.17	5.17	4.58	5.57	4.73	5.78
Loss (Gain) From Sale of Assets	-0.06	-0.06	-	0.67	1.18	3.23
Asset Writedown & Restructuring Costs	4.95	4.95	0.86	0.64	0.12	2.13
Loss (Gain) From Sale of Investments	-0.58	-0.58	-2.41	-3.38	-2.4	-
Provision & Write-off of Bad Debts	5.46	5.46	2.56	2.25	1.65	0.67
Other Operating Activities	85.86	7.05	5.31	2.57	0.63	7.47
Change in Accounts Receivable	-169.98	-169.98	-69.19	-54.42	-213.72	-50.42
Change in Inventory	-45.54	-45.54	-25.95	-12.44	-50.39	1.16
Change in Accounts Payable	30.48	30.48	62.35	-53.87	43.78	-13.11
Change in Other Net Operating Assets	1.22	1.22	2.48	-	-	-
Operating Cash Flow	172.39	71.11	187.43	68.06	-22.2	101.34
Operating Cash Flow Growth	91.51%	-62.06%	175.41%	-	-	-16.55%
Capital Expenditures	-28.4	-44.76	-49.36	-49.03	-68.92	-54.45
Sale of Property, Plant & Equipment	1.86	1.86	0.41	0.16	0.9	0.87
Investment in Securities	-40	60	20	-10.31	-70	-
Other Investing Activities	-	7.18	0.82	0.31	0.77	-
Investing Cash Flow	-66.54	24.28	-28.13	-58.87	-137.24	-53.58
Short-Term Debt Issued	-	0.15	-	22.3	256.86	4.79
Total Debt Issued	0.15	0.15	-	22.3	256.86	4.79
Short-Term Debt Repaid	-	-	-	-19.13	-18.36	-4.63
Long-Term Debt Repaid	-	-0.35	-0.45	-0.3	-0.38	-
Total Debt Repaid	-0.35	-0.35	-0.45	-19.43	-18.74	-4.63
Net Debt Issued (Repaid)	-0.2	-0.2	-0.45	2.86	238.12	0.16
Common Dividends Paid	-56.85	-86.63	-86.63	-135.43	-94.81	-135.36
Other Financing Activities	0.13	-	-	-	-	-0.02
Financing Cash Flow	-56.92	-86.83	-87.08	-132.57	143.31	-135.22
Foreign Exchange Rate Adjustments	-0.67	-0.67	0	0	-0	-0
Net Cash Flow	48.27	7.89	72.22	-123.38	-16.13	-87.46
Free Cash Flow	144	26.34	138.07	19.02	-91.11	46.89
Free Cash Flow Growth	210.98%	-80.92%	625.74%	-	-	-19.07%
Free Cash Flow Margin	10.23%	2.15%	12.96%	2.03%	-11.57%	7.59%
Free Cash Flow Per Share	0.53	0.10	0.51	0.07	-0.33	0.17
Cash Interest Paid	-	-	-	-	-	0.02
Cash Income Tax Paid	95.19	75.44	59.19	56.46	57.15	48.86
Levered Free Cash Flow	194.96	-6.96	134.92	126.44	-24.01	26.82
Unlevered Free Cash Flow	195.55	-6.38	136.42	128.02	-23.32	27.14
Change in Working Capital	-181.59	-181.59	-25.05	-113.32	-213.94	-62.47

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