SHA:603528 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-68.4	-45.33	6.32	-231.91	50.97	-171.5
Depreciation & Amortization	69.13	69.13	82.95	103.82	109.65	94.31
Other Amortization	9.4	9.4	11.31	21.73	9.34	8.71
Loss (Gain) From Sale of Assets	0.81	0.81	-1.48	4.76	-0.48	0.53
Asset Writedown & Restructuring Costs	-22.37	-22.37	10.23	117.04	47.83	163.11
Loss (Gain) From Sale of Investments	-16.99	-16.99	-32.54	-31.11	-14.17	-3.69
Provision & Write-off of Bad Debts	-	-	31.47	32.6	-	15.74
Other Operating Activities	30.27	24.53	-1.44	33.73	36.96	51.47
Change in Accounts Receivable	33.03	33.03	-5.61	20.14	-0.86	-56.55
Change in Inventory	-4.92	-4.92	51.69	31.37	-32.16	12.6
Change in Accounts Payable	-4.9	-4.9	-73.36	-49.58	-0.72	23.89
Change in Other Net Operating Assets	-	-	-	-10.24	0.67	7.74
Operating Cash Flow	11.92	29.25	50.94	64.32	195.8	124.39
Operating Cash Flow Growth	-83.78%	-42.57%	-20.81%	-67.15%	57.41%	108.95%
Capital Expenditures	-27.65	-31.72	-46.91	-25.83	-51.32	-116.85
Sale of Property, Plant & Equipment	2.01	1.68	0.35	2.69	2.98	1.96
Cash Acquisitions	-	-	-	2.16	-12.31	-136.93
Divestitures	0.22	0.22	5.18	1.48	-6.56	1.24
Investment in Securities	-79.51	-41.3	-82.45	180.55	-78.02	-256.11
Other Investing Activities	86.17	-2.44	23.99	29.1	19.22	12.2
Investing Cash Flow	-18.76	-73.56	-99.84	190.14	-126	-494.5
Short-Term Debt Issued	-	-	4.14	-	-	-
Total Debt Issued	-	-	4.14	-	-	-
Short-Term Debt Repaid	-	-	-	-	-	-2.35
Long-Term Debt Repaid	-	-	-26.83	-45.93	-38.79	-31.1
Total Debt Repaid	-	-	-26.83	-45.93	-38.79	-33.45
Net Debt Issued (Repaid)	-	-	-22.7	-45.93	-38.79	-33.45
Issuance of Common Stock	-	-	-	-	4.5	-
Repurchase of Common Stock	-	-	-30.5	-	-11.44	-1.02
Common Dividends Paid	-35.05	-35.05	-	-43.69	-	-25.06
Other Financing Activities	-18.69	-24.75	-1.4	-10.36	-8.82	-1.97
Financing Cash Flow	-53.73	-59.8	-54.59	-99.97	-54.54	-61.5
Net Cash Flow	-60.57	-104.1	-103.5	154.49	15.26	-431.61
Free Cash Flow	-15.73	-2.46	4.02	38.49	144.48	7.54
Free Cash Flow Growth	-	-	-89.54%	-73.36%	1815.80%	-
Free Cash Flow Margin	-4.21%	-0.62%	0.77%	7.24%	19.53%	1.05%
Free Cash Flow Per Share	-0.02	-0.00	0.01	0.06	0.23	0.01
Cash Interest Paid	-	-	-	6.4	3.84	2.56
Cash Income Tax Paid	22.51	20.2	33.66	39.36	47.13	54.67
Levered Free Cash Flow	78.02	61.8	11.02	34.15	62.58	-9.82
Unlevered Free Cash Flow	78.02	61.8	13.75	59.74	90.99	17.83
Change in Working Capital	10.07	10.07	-55.88	13.66	-44.29	-34.29

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