SHA:603312 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	260.84	227.81	198.12	154.5
Depreciation & Amortization	41.98	32.66	21.28	10.99
Other Amortization	5.06	4.71	3.41	3.22
Loss (Gain) From Sale of Assets	0.8	0.76	-0.11	-0.09
Asset Writedown & Restructuring Costs	12.15	7.8	5.71	4.62
Loss (Gain) From Sale of Investments	-6.11	-2.83	3.53	2.67
Provision & Write-off of Bad Debts	0.8	19.73	0.5	16.93
Other Operating Activities	0.93	-0.49	2.88	-1.24
Change in Accounts Receivable	-125.32	-460.1	154.33	-551.94
Change in Inventory	13.93	-51.56	9.11	-40.54
Change in Accounts Payable	3.23	374.36	-247.97	459.36
Change in Other Net Operating Assets	15.04	7.01	4.24	3.57
Operating Cash Flow	218.34	153.44	153.46	56.53
Operating Cash Flow Growth	42.29%	-0.01%	171.47%	-
Capital Expenditures	-212.13	-113.41	-198.12	-84.26
Sale of Property, Plant & Equipment	0.07	0.01	0.18	0.06
Investment in Securities	134.03	-473.03	-	-
Other Investing Activities	6.11	4.81	0.12	-
Investing Cash Flow	-71.91	-581.62	-197.83	-84.19
Short-Term Debt Issued	-	65.11	-	-
Long-Term Debt Issued	-	-	166.19	115
Total Debt Issued	-	65.11	166.19	115
Short-Term Debt Repaid	-0.26	-161.36	-	-
Long-Term Debt Repaid	-1.67	-1.78	-80.88	-77.62
Total Debt Repaid	-1.93	-163.14	-80.88	-77.62
Net Debt Issued (Repaid)	-1.93	-98.03	85.31	37.38
Issuance of Common Stock	-	1,091	-	-
Repurchase of Common Stock	-	-163.35	-	-
Common Dividends Paid	-183.51	-106.15	-3.3	-2
Other Financing Activities	16.37	-10.15	-2.56	-
Financing Cash Flow	-169.07	713.6	79.46	35.39
Foreign Exchange Rate Adjustments	-0.67	1.65	0.13	0.97
Net Cash Flow	-23.31	287.07	35.23	8.7
Free Cash Flow	6.21	40.03	-44.65	-27.72
Free Cash Flow Growth	-84.48%	-	-	-
Free Cash Flow Margin	0.22%	1.85%	-2.43%	-1.74%
Free Cash Flow Per Share	0.04	0.25	-0.37	-0.23
Cash Income Tax Paid	101.17	82.33	63.65	67.51
Levered Free Cash Flow	48.98	-59.86	-126.73	-
Unlevered Free Cash Flow	48.98	-59.11	-124.51	-
Change in Working Capital	-98.11	-136.71	-81.86	-135.07

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