SHA:603665 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	FY 2021
Period Ending	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	26.38	-485.53	-220.28	242.17	-154.28
Depreciation & Amortization	150.41	153.23	101.64	56.68	44.11
Other Amortization	9.3	8.73	7.84	5.84	6.94
Loss (Gain) From Sale of Assets	-0.12	1.97	3.83	3.8	-41.52
Asset Writedown & Restructuring Costs	44.77	361.1	87.9	23.73	42.13
Loss (Gain) From Sale of Investments	-108.1	61.78	47.55	-122.67	-14.74
Provision & Write-off of Bad Debts	2.86	2.82	2.47	-12.47	13.92
Other Operating Activities	62.9	81.72	94.37	66.29	187.19
Change in Accounts Receivable	-25.74	-112.55	-80.89	195.34	296.78
Change in Inventory	-125.38	-133.54	113.96	-213.37	-483.04
Change in Accounts Payable	23.86	257.78	-115.6	78.75	127.02
Change in Other Net Operating Assets	2.66	-18.89	19.11	8.26	-0.72
Operating Cash Flow	84.21	163.32	78.6	307.54	19.31
Operating Cash Flow Growth	-48.44%	107.78%	-74.44%	1492.65%	-
Capital Expenditures	-98.44	-117.42	-174.76	-295.98	-388.29
Sale of Property, Plant & Equipment	0.78	1.19	3.08	1.81	94.43
Cash Acquisitions	-	-	-	-251.79	-
Divestitures	130.78	-	-	-	-
Sale (Purchase) of Real Estate	-	-	-	-	11.6
Investment in Securities	17.8	54.12	-	-69	-110
Other Investing Activities	-39.92	55.06	-14.49	-18.28	7.56
Investing Cash Flow	11.01	-7.05	-186.17	-633.24	-384.7
Short-Term Debt Issued	-	595.43	433.75	758.02	130
Long-Term Debt Issued	1,368	1,329	1,270	1,311	686.48
Total Debt Issued	1,368	1,925	1,703	2,069	816.48
Short-Term Debt Repaid	-	-533.1	-597.64	-352.01	-13
Long-Term Debt Repaid	-1,322	-1,404	-1,501	-949.45	-638.95
Total Debt Repaid	-1,322	-1,937	-2,098	-1,301	-651.95
Net Debt Issued (Repaid)	46.13	-12.23	-394.8	767.3	164.53
Issuance of Common Stock	-	-	23.51	79.09	-
Repurchase of Common Stock	-	-54.63	-	-	-35.97
Common Dividends Paid	-62.57	-109.26	-122.11	-44.93	-27.57
Other Financing Activities	-55.44	-15.46	120.69	32.7	114.25
Financing Cash Flow	-71.87	-191.58	-372.71	834.16	215.24
Foreign Exchange Rate Adjustments	-42.51	-30.64	-7.52	63.47	-9.01
Net Cash Flow	-19.16	-65.95	-487.79	571.92	-159.15
Free Cash Flow	-14.23	45.9	-96.16	11.56	-368.98
Free Cash Flow Margin	-1.01%	3.02%	-6.15%	0.84%	-35.05%
Free Cash Flow Per Share	-0.09	0.28	-0.61	0.07	-2.34
Cash Income Tax Paid	-	31.25	72.9	-0.82	-33.68
Levered Free Cash Flow	57.62	-23.85	-119.9	-118.51	-62.94
Unlevered Free Cash Flow	94.59	23.72	-91.07	-92.18	-40.57
Change in Working Capital	-104.2	-22.49	-46.73	44.18	-64.44

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.