SHA:603370 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
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
Net Income	177.6	153.14	155.82	113.73	72.63
Depreciation & Amortization	41.13	41.13	30.73	21.27	14.79
Other Amortization	10.64	10.64	4.99	3.68	4.21
Loss (Gain) From Sale of Assets	1.14	1.14	0.52	-0.13	0
Asset Writedown & Restructuring Costs	7.73	7.73	9.92	1.35	0.44
Loss (Gain) From Sale of Investments	-1.6	-1.6	0.14	-	-
Provision & Write-off of Bad Debts	12.69	12.69	-12.88	1.07	9.24
Other Operating Activities	86.35	-3.83	3.58	0.23	2.33
Change in Accounts Receivable	-382.49	-382.49	169.28	-331.35	-269.59
Change in Inventory	-64.28	-64.28	-43.88	-11.16	-65.75
Change in Accounts Payable	164.27	164.27	132.51	117.33	96.94
Change in Other Net Operating Assets	4.13	4.13	7.33	4.33	5.26
Operating Cash Flow	51.25	-63.38	458.14	-65.18	-127.46
Capital Expenditures	-154.65	-172.65	-69.23	-29.66	-39.3
Sale of Property, Plant & Equipment	0.83	1.11	3.78	0.23	0.01
Investment in Securities	95.5	-60	-11.7	-	-
Other Investing Activities	20.2	21.71	0.33	-	-
Investing Cash Flow	-57.57	-209.83	-76.82	-29.43	-39.29
Long-Term Debt Issued	-	72	52	151.27	53.72
Long-Term Debt Repaid	-	-53.5	-105.52	-75.24	-11.8
Net Debt Issued (Repaid)	3.7	18.5	-53.52	76.03	41.92
Issuance of Common Stock	735.47	-	-	-	151.9
Common Dividends Paid	-2.13	-1.37	-2.85	-2.9	-1.75
Other Financing Activities	15.86	32.56	-3.01	-4.44	-1.17
Financing Cash Flow	752.9	49.7	-59.38	68.68	190.9
Foreign Exchange Rate Adjustments	0.66	1.06	0.59	2.97	-0.45
Net Cash Flow	747.24	-222.46	322.53	-22.97	23.71
Free Cash Flow	-103.41	-236.03	388.91	-94.85	-166.76
Free Cash Flow Margin	-6.47%	-16.62%	32.71%	-7.96%	-19.70%
Free Cash Flow Per Share	-0.77	-1.80	2.97	-0.74	-1.51
Cash Income Tax Paid	-	6.05	-31.66	17.4	2.64
Levered Free Cash Flow	-	-206.8	428.37	4.11	-
Unlevered Free Cash Flow	-	-205.69	430.44	6.11	-
Change in Working Capital	-284.43	-284.43	265.33	-206.39	-231.1

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