SHA:603887 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	-67.07	-344.84	-656.28	1.1	-605.25
Depreciation & Amortization	302.72	151.7	163.86	107.08	100.96
Other Amortization	7.87	7.38	7.19	3.37	2.63
Loss (Gain) From Sale of Assets	9.68	-3.3	-3.36	-0.63	-0.64
Asset Writedown & Restructuring Costs	59.33	90.08	489.24	-	630.9
Loss (Gain) From Sale of Investments	-2.07	-1.36	12.3	10.98	-11.39
Provision & Write-off of Bad Debts	-	12.28	17.54	102.42	109.6
Other Operating Activities	233.87	209.16	284.34	143.76	201.5
Change in Accounts Receivable	-472.09	819.76	441.64	29.94	-301.77
Change in Inventory	-1,375	-381.26	192.13	-187.26	-178.42
Change in Accounts Payable	1,754	-240.06	-245.74	182.09	-197.43
Change in Other Net Operating Assets	9.28	9.21	-	-	-
Operating Cash Flow	376.26	295.53	660.14	367.09	-287.33
Operating Cash Flow Growth	27.32%	-55.23%	79.83%	-	-
Capital Expenditures	-1,102	-1,105	-211.2	-450.88	-461.82
Sale of Property, Plant & Equipment	136.42	40.74	1.57	0.43	1.07
Divestitures	-	-	1.74	0.55	-
Investment in Securities	4.97	0.13	0.21	235.7	-223.96
Other Investing Activities	0.44	-	-25.5	1.93	25.07
Investing Cash Flow	-959.78	-1,064	-233.19	-212.27	-659.65
Long-Term Debt Issued	2,334	1,674	1,328	1,533	2,138
Total Debt Issued	2,334	1,674	1,328	1,533	2,138
Long-Term Debt Repaid	-956.9	-1,385	-1,484	-1,837	-2,186
Total Debt Repaid	-956.9	-1,385	-1,484	-1,837	-2,186
Net Debt Issued (Repaid)	1,377	289.33	-155.48	-303.82	-47.95
Issuance of Common Stock	-	57.26	-	-	-
Common Dividends Paid	-84.03	-58.79	-107.4	-90.04	-122.96
Other Financing Activities	77.55	-17.18	-52.87	52.36	43.62
Financing Cash Flow	1,371	270.62	-315.75	-341.5	-127.29
Foreign Exchange Rate Adjustments	0.81	-	-	-	-
Net Cash Flow	787.86	-498.29	111.21	-186.67	-1,074
Free Cash Flow	-725.35	-809.77	448.94	-83.78	-749.15
Free Cash Flow Margin	-18.80%	-49.96%	18.45%	-3.12%	-25.77%
Free Cash Flow Per Share	-1.21	-1.64	1.00	-0.18	-1.82
Cash Interest Paid	-	-	-	-	2.22
Cash Income Tax Paid	136.02	27.79	51.95	91.84	175.89
Levered Free Cash Flow	37.32	-562.27	238.93	-11.04	-1,042
Unlevered Free Cash Flow	37.32	-467.54	334.3	79.5	-952.42
Change in Working Capital	-168.07	174.65	344.27	-1	-715.63

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