SHA:603435 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	243.52	237.92	140.79	192.35
Depreciation & Amortization	48.14	44.34	27.05	23.15
Loss (Gain) From Sale of Assets	-	-	-0.05	-
Asset Writedown & Restructuring Costs	-	0.14	-	-0.09
Loss (Gain) From Sale of Investments	-0.42	-0.78	-0.72	-1.6
Provision & Write-off of Bad Debts	0.76	1.49	2.25	-0.19
Other Operating Activities	3.2	4.11	0.07	0.51
Change in Accounts Receivable	-57.82	-114.76	-60.94	-3.24
Change in Inventory	-18.9	-23.54	-11.12	-34.93
Change in Accounts Payable	20.64	72.8	35.27	71.59
Operating Cash Flow	236.07	220.89	131.83	249.22
Operating Cash Flow Growth	6.88%	67.55%	-47.10%	-
Capital Expenditures	-560.36	-133.66	-284.06	-60.79
Sale of Property, Plant & Equipment	-	-	0.24	-
Investment in Securities	70	-70	110.7	-87.7
Other Investing Activities	0.89	0.32	1.13	1.91
Investing Cash Flow	-489.47	-203.34	-171.99	-146.58
Short-Term Debt Issued	-	-	-	19.07
Long-Term Debt Issued	208.47	61.78	62.04	-
Total Debt Issued	208.47	61.78	62.04	19.07
Short-Term Debt Repaid	-	-	-	-42.21
Long-Term Debt Repaid	-46.5	-42.33	-46.31	-
Total Debt Repaid	-46.5	-42.33	-46.31	-42.21
Net Debt Issued (Repaid)	161.97	19.45	15.73	-23.14
Issuance of Common Stock	150	-	-	-
Common Dividends Paid	-1.35	-0.78	-0.4	-0.28
Other Financing Activities	-4.35	-	-	-
Financing Cash Flow	306.27	18.67	15.33	-23.41
Foreign Exchange Rate Adjustments	-1.44	-2.46	-0.84	0.09
Net Cash Flow	51.43	33.76	-25.67	79.32
Free Cash Flow	-324.29	87.23	-152.23	188.43
Free Cash Flow Margin	-42.83%	11.89%	-28.82%	34.26%
Free Cash Flow Per Share	-0.80	0.22	-1.08	-
Cash Income Tax Paid	60.72	71.26	49.67	41.52
Levered Free Cash Flow	-420.84	20.89	-240.62	-
Unlevered Free Cash Flow	-420.53	21.32	-240.31	-
Change in Working Capital	-59.12	-66.32	-37.57	35.09