SHA:603822 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	31.35	-366.94	-7.54	-32.44	102.06
Depreciation & Amortization	317.4	142.38	107.31	63.69	61.98
Other Amortization	49.02	3.74	2.45	1.26	0.94
Loss (Gain) From Sale of Assets	-	-0.01	-0.08	1.42	0.35
Asset Writedown & Restructuring Costs	0.13	30.51	0	8.54	-
Loss (Gain) From Sale of Investments	-0.68	4.57	-	-	-
Provision & Write-off of Bad Debts	14.5	0.36	-2.63	0.01	-0.25
Other Operating Activities	434.74	107.94	85.44	68.95	40.65
Change in Accounts Receivable	-800.3	-373.07	58.59	-580.94	-75.66
Change in Inventory	-398.14	-199.76	143.32	-132.48	-146.24
Change in Accounts Payable	705.51	593.77	-35.52	336.92	49.32
Change in Other Net Operating Assets	1.64	-1.7	-2.42	9.42	5.29
Operating Cash Flow	256.99	-81.86	317.72	-297.74	39.08
Capital Expenditures	-730.48	-1,674	-849.18	-302.17	-256.67
Sale of Property, Plant & Equipment	0.14	0.03	0.01	0.16	0.04
Investment in Securities	57.9	-1	-	-	-
Other Investing Activities	0.48	0	-	-	-
Investing Cash Flow	-671.96	-1,675	-849.17	-302.01	-256.64
Long-Term Debt Issued	3,377	3,770	1,969	1,507	1,083
Total Debt Issued	3,377	3,770	1,969	1,507	1,083
Short-Term Debt Repaid	-	-	-	-	-1.46
Long-Term Debt Repaid	-2,815	-2,135	-1,746	-1,021	-812.77
Total Debt Repaid	-2,815	-2,135	-1,746	-1,021	-814.23
Net Debt Issued (Repaid)	562.37	1,635	222.83	485.6	269.07
Issuance of Common Stock	-	-	-	-	21.39
Repurchase of Common Stock	-	-18.36	-6.37	-0.34	-20.25
Common Dividends Paid	-194.39	-124.47	-91.39	-85.14	-63.89
Other Financing Activities	136.06	377.61	357.26	96.04	33.8
Financing Cash Flow	504.04	1,870	482.33	496.16	240.12
Foreign Exchange Rate Adjustments	4.91	5.76	-4.3	-9.15	0.56
Net Cash Flow	93.97	118.41	-53.42	-112.74	23.13
Free Cash Flow	-473.49	-1,756	-531.46	-599.91	-217.59
Free Cash Flow Margin	-9.80%	-137.90%	-19.93%	-18.68%	-11.36%
Free Cash Flow Per Share	-6.16	-22.77	-6.87	-8.07	-2.91
Cash Income Tax Paid	19.44	-52.17	-173.79	-102.65	-10.75
Levered Free Cash Flow	-1,016	-1,213	-552.79	-490.54	-151.64
Unlevered Free Cash Flow	-928.32	-1,157	-505.82	-459.26	-126.17
Change in Working Capital	-589.46	-4.42	132.77	-409.16	-166.64

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