SHA:603284 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	138.08	152.86	211.59	154.47
Depreciation & Amortization	207.12	113.54	110.66	85.64
Loss (Gain) From Sale of Assets	-	-	-0.5	-0
Asset Writedown & Restructuring Costs	1.69	1.69	0.85	-
Loss (Gain) From Sale of Investments	-	-	-0.99	-
Provision & Write-off of Bad Debts	1.48	1.48	-1.35	-0.08
Other Operating Activities	-68.59	18.31	24.6	29.45
Change in Accounts Receivable	-143.97	-143.97	-47.89	-139.36
Change in Inventory	4.27	4.27	66.63	-0.43
Change in Accounts Payable	86.84	86.84	-7.71	49.37
Change in Other Net Operating Assets	17.93	17.93	18.39	0.2
Operating Cash Flow	244.85	252.94	374.28	179.25
Operating Cash Flow Growth	-	-32.42%	108.80%	-
Capital Expenditures	-499.91	-294.57	-5.15	-81.3
Sale of Property, Plant & Equipment	-	-	0.75	-
Other Investing Activities	-	-	1.99	7.82
Investing Cash Flow	-499.91	-294.57	-2.41	-73.48
Long-Term Debt Issued	-	192.4	262.5	311.67
Long-Term Debt Repaid	-	-350.46	-370.1	-181.84
Net Debt Issued (Repaid)	254.76	-158.06	-107.6	129.83
Common Dividends Paid	-39.42	-18.18	-22.83	-28.52
Other Financing Activities	11.85	-	-0.88	-58.71
Financing Cash Flow	227.19	-176.24	-131.3	42.6
Foreign Exchange Rate Adjustments	-0.72	0.33	-0.71	0.09
Net Cash Flow	-28.59	-217.55	239.85	148.47
Free Cash Flow	-255.06	-41.63	369.13	97.95
Free Cash Flow Growth	-	-	276.85%	-
Free Cash Flow Margin	-10.05%	-1.68%	13.18%	3.40%
Free Cash Flow Per Share	-4.42	-0.73	6.53	1.73
Cash Income Tax Paid	93.61	108.37	90.51	119.56
Levered Free Cash Flow	-	104.73	349.67	-
Unlevered Free Cash Flow	-	115.93	363.83	-
Change in Working Capital	-34.93	-34.93	29.42	-90.22

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