SHA:603656 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	32.65	29.13	21.47	11.31	21.56	38.4
Depreciation & Amortization	59.26	59.26	36.9	34.56	32.56	25.44
Other Amortization	1	1	-	-	-	-
Loss (Gain) From Sale of Assets	-0.47	-0.47	1.24	0.32	-	-30.83
Asset Writedown & Restructuring Costs	0.58	0.58	0.13	-2.92	0.21	0.76
Loss (Gain) From Sale of Investments	-0.31	-0.31	-2.52	-15.13	-7.63	-11.08
Provision & Write-off of Bad Debts	9.04	9.04	4.59	13.64	10.69	8.97
Other Operating Activities	42.75	11.35	-13.11	-3.34	-8.78	-4.29
Change in Accounts Receivable	-28.01	-28.01	2.53	-20.01	-42.98	-57.17
Change in Inventory	18.32	18.32	12.29	4.58	-32.08	-15.26
Change in Accounts Payable	35.26	35.26	35.26	-9.44	87.65	29.96
Change in Other Net Operating Assets	5	5	5.5	1.91	2.02	17.1
Operating Cash Flow	174.48	139.55	104.41	13.41	58.35	-10.61
Operating Cash Flow Growth	95.07%	33.66%	678.43%	-77.01%	-	-
Capital Expenditures	-119.9	-67.68	-69.05	-101.79	-111.23	-84.25
Sale of Property, Plant & Equipment	0.87	0.81	0.89	0.71	-	39.07
Cash Acquisitions	-22.14	-22.14	-	-	-	-
Divestitures	2.41	-	-3.34	-	-	-
Sale (Purchase) of Real Estate	-	-	-	-0.06	-0.5	-
Investment in Securities	-2.65	8.56	41.3	-201.15	12.51	104
Other Investing Activities	21.22	20.17	17.68	22.47	10.65	16.41
Investing Cash Flow	-120.19	-60.28	-12.53	-279.82	-88.57	75.23
Long-Term Debt Issued	-	133.01	2	-	-	-
Short-Term Debt Repaid	-	-29.44	-	-	-	-
Long-Term Debt Repaid	-	-111.41	-	-0.2	-0.2	-
Total Debt Repaid	-145.06	-140.85	-	-0.2	-0.2	-
Net Debt Issued (Repaid)	-18.42	-7.84	2	-0.2	-0.2	-
Issuance of Common Stock	-	-	-	345.58	-	4.33
Repurchase of Common Stock	-	-	-40.01	-6.26	-3.7	-22.74
Common Dividends Paid	-10.57	-10.34	-8.91	-18.18	-15.08	-15.29
Other Financing Activities	6.17	-	9.51	3.68	-34.78	0.77
Financing Cash Flow	-22.82	-18.18	-37.41	324.61	-53.77	-32.93
Foreign Exchange Rate Adjustments	-9.87	-6.62	4.45	2.66	3.86	-2.1
Net Cash Flow	21.59	54.48	58.92	60.86	-80.12	29.59
Free Cash Flow	54.58	71.88	35.36	-88.38	-52.87	-94.85
Free Cash Flow Growth	53.86%	103.25%	-	-	-	-
Free Cash Flow Margin	8.45%	11.67%	6.27%	-17.35%	-11.03%	-18.29%
Free Cash Flow Per Share	0.30	0.40	0.20	-0.47	-0.34	-0.62
Cash Income Tax Paid	11.89	13.26	15.36	37.34	10.75	5.48
Levered Free Cash Flow	146.53	198.86	34.64	-120.73	-92.69	-111.45
Unlevered Free Cash Flow	149.96	202.29	34.64	-120.54	-92.69	-111.45
Change in Working Capital	29.98	29.98	55.72	-25.02	9.75	-37.98

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