SHA:603863 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	-191.05	-203.97	-235.62	-236.93	-277.22	8.87
Depreciation & Amortization	63.32	63.32	70.49	73.12	65.53	27.72
Other Amortization	11.5	11.5	5.86	6.5	5.49	2.06
Loss (Gain) From Sale of Assets	1.19	1.19	3.51	0	-	-0.58
Asset Writedown & Restructuring Costs	89.14	89.14	77.92	15.33	-	-
Loss (Gain) From Sale of Investments	0.45	0.45	1.76	-6.75	0.25	-1.67
Provision & Write-off of Bad Debts	-	-	0.97	-2.69	-0.4	1.95
Other Operating Activities	51.83	26.77	34.82	70.7	29.5	12.31
Change in Accounts Receivable	7.95	7.95	27.2	-1.19	33.67	101.16
Change in Inventory	36.68	36.68	1.84	1.54	11.56	-67.18
Change in Accounts Payable	-57.34	-57.34	19.81	51.8	5.52	-58.46
Operating Cash Flow	13.68	-24.3	8.58	-28.57	-122.64	24.4
Operating Cash Flow Growth	-	-	-	-	-	-62.04%
Capital Expenditures	-8.89	-7.59	-25.9	-36.64	-66.15	-377.55
Sale of Property, Plant & Equipment	74.79	76.35	3.04	0	-	0.46
Divestitures	-	-	0.08	-	-	-
Investment in Securities	5	4	76.1	12.5	-39	-79.46
Other Investing Activities	-3.92	-	-	-	0	411.5
Investing Cash Flow	66.97	72.76	53.31	-24.14	-105.15	-45.04
Long-Term Debt Issued	-	461.5	621.9	433.5	217	338.05
Total Debt Issued	421	461.5	621.9	433.5	217	338.05
Long-Term Debt Repaid	-	-504.64	-623.81	-329.17	-212.07	-211.85
Total Debt Repaid	-485.93	-504.64	-623.81	-329.17	-212.07	-211.85
Net Debt Issued (Repaid)	-64.93	-43.14	-1.91	104.33	4.93	126.2
Common Dividends Paid	-22.99	-23.49	-26.54	-21.04	-22.54	-20.83
Dividends Paid	-22.99	-23.49	-26.54	-21.04	-22.54	-20.83
Other Financing Activities	-28.55	-28.41	-3.13	-10.7	-12.84	-45.66
Financing Cash Flow	-116.47	-95.04	-31.59	72.6	-30.45	59.71
Foreign Exchange Rate Adjustments	0.02	0.01	-0.01	0.19	0.53	-0.24
Net Cash Flow	-35.81	-46.57	30.29	20.08	-257.72	38.82
Free Cash Flow	4.78	-31.89	-17.33	-65.21	-188.8	-353.15
Free Cash Flow Margin	1.03%	-7.20%	-2.38%	-9.80%	-20.34%	-59.15%
Free Cash Flow Per Share	0.02	-0.16	-0.09	-0.32	-0.92	-1.59
Cash Income Tax Paid	29.18	35.22	31.27	28.39	30.7	10.93
Levered Free Cash Flow	203.42	218.69	49.82	-77.57	-85.44	66.79
Unlevered Free Cash Flow	203.42	218.69	67.4	-62.68	-72.97	74.36
Change in Working Capital	-12.7	-12.7	48.86	52.15	54.21	-26.26

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