SHA:603700 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	93.26	52.42	131.26	126.39	235.37
Depreciation & Amortization	33.78	32.57	36.36	24.6	15.87
Other Amortization	3	6.63	4	3.84	3.49
Loss (Gain) From Sale of Assets	-0.04	-0.02	-0.05	0.01	-
Asset Writedown & Restructuring Costs	3.25	2.67	2.96	2.49	1.69
Loss (Gain) From Sale of Investments	-49.47	-0.16	0.32	-4.32	-11.24
Provision & Write-off of Bad Debts	-	35.48	25.32	34.39	24.6
Other Operating Activities	61.13	3.67	4.18	0.85	4.31
Change in Accounts Receivable	-134.45	-54.88	-58.45	-142.62	-172.31
Change in Inventory	-90.43	-39.06	83.64	-84.71	-25.22
Change in Accounts Payable	218.21	52.12	-37.49	126.37	88.94
Operating Cash Flow	124.64	83.03	184.9	84.25	161.01
Operating Cash Flow Growth	50.12%	-55.10%	119.47%	-47.67%	27.02%
Capital Expenditures	-30.52	-66.43	-61.4	-237.84	-140.23
Sale of Property, Plant & Equipment	0.25	0.15	0.09	0.12	0
Cash Acquisitions	-	-	-	-	-0.63
Investment in Securities	0.02	-1.15	1.04	146.96	163
Other Investing Activities	53.1	0.46	0.04	4.65	13.56
Investing Cash Flow	22.85	-65.67	-62.14	-86.08	35.71
Short-Term Debt Issued	-	187	261	299.09	91
Long-Term Debt Issued	106.07	-	-	-	-
Total Debt Issued	106.07	187	261	299.09	91
Short-Term Debt Repaid	-	-197	-337	-215.09	-149.7
Long-Term Debt Repaid	-106.07	-1.39	-1.18	-2.62	-1.52
Total Debt Repaid	-106.07	-198.39	-338.18	-217.71	-151.22
Net Debt Issued (Repaid)	-	-11.39	-77.18	81.38	-60.22
Issuance of Common Stock	-	23.63	-	-	14.94
Repurchase of Common Stock	-	-25.52	-	-33.38	-26.6
Common Dividends Paid	-41.12	-61.32	-63.8	-162.99	-83.64
Other Financing Activities	-25.93	-	-	-	-2.71
Financing Cash Flow	-67.06	-74.61	-140.98	-114.99	-158.24
Foreign Exchange Rate Adjustments	-0.15	2.99	1.87	2.79	-2.2
Net Cash Flow	80.28	-54.26	-16.35	-114.03	36.28
Free Cash Flow	94.12	16.6	123.5	-153.59	20.78
Free Cash Flow Growth	466.98%	-86.56%	-	-	-61.45%
Free Cash Flow Margin	5.40%	1.11%	6.90%	-9.88%	1.21%
Free Cash Flow Per Share	0.47	0.08	0.62	-0.77	0.10
Cash Income Tax Paid	25.9	0.73	45.28	35.12	64.66
Levered Free Cash Flow	107.25	-50.28	32.95	-215.78	-67.84
Unlevered Free Cash Flow	107.25	-49.02	35.26	-213.99	-66.4
Change in Working Capital	-20.26	-50.22	-19.46	-104.01	-113.08

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