SHA:603912 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	-54.6	35.86	35.37	36.5	85.15
Depreciation & Amortization	33.94	11.5	13.01	11.04	10.89
Other Amortization	0.99	7.1	-	-	-
Loss (Gain) From Sale of Assets	1.26	-0.04	0.12	-0	1.67
Asset Writedown & Restructuring Costs	8.26	-	-	0.16	-
Loss (Gain) From Sale of Investments	-18.23	-21.18	-10.96	-14.07	-13.9
Provision & Write-off of Bad Debts	-	2.09	6.69	15.58	7.32
Other Operating Activities	47.18	28.46	21.44	17.39	21.21
Change in Accounts Receivable	-80.2	-79.02	-101.58	-33.91	-64.78
Change in Inventory	19.31	-86.47	-90.03	-41.48	-20.66
Change in Accounts Payable	-34.02	148.92	56.71	82.06	44.05
Change in Other Net Operating Assets	-	-	-	-0.33	-
Operating Cash Flow	-92.11	47.12	-73.65	71.39	73.93
Operating Cash Flow Growth	-	-	-	-3.44%	171.28%
Capital Expenditures	-220.85	-106.11	-85.78	-200.12	-168.9
Sale of Property, Plant & Equipment	0.05	0.21	0.07	0.02	0.12
Cash Acquisitions	-0.1	-	-	-2.43	-0.1
Investment in Securities	-0.5	-376.5	-320	63.6	124.4
Other Investing Activities	310.6	19.62	8.04	19.28	13.7
Investing Cash Flow	89.2	-462.79	-397.68	-119.64	-30.78
Short-Term Debt Issued	-	815	1,055	780	-
Long-Term Debt Issued	1,040	-	-	-	465
Total Debt Issued	1,040	815	1,055	780	465
Short-Term Debt Repaid	-	-735	-1,015	-800	-
Long-Term Debt Repaid	-908.1	-	-	-	-225
Total Debt Repaid	-908.1	-735	-1,015	-800	-225
Net Debt Issued (Repaid)	131.95	80	40	-20	240
Issuance of Common Stock	-	-	898.38	-	-
Repurchase of Common Stock	-	-	-	-0.17	-
Common Dividends Paid	-68.29	-64.81	-53.6	-67.05	-62.26
Other Financing Activities	-	-	-4.37	-0.4	-3.26
Financing Cash Flow	63.66	15.19	880.4	-87.62	174.48
Net Cash Flow	60.75	-400.47	409.07	-135.87	217.64
Free Cash Flow	-312.96	-58.99	-159.44	-128.73	-94.97
Free Cash Flow Margin	-42.37%	-7.32%	-25.09%	-20.60%	-14.24%
Free Cash Flow Per Share	-0.58	-0.11	-0.32	-0.32	-0.22
Cash Income Tax Paid	15.11	26.07	19.03	0.08	47.78
Levered Free Cash Flow	-153.55	-32.52	-219.62	-173.95	-167.45
Unlevered Free Cash Flow	-153.55	-21.68	-212.16	-166.52	-156.11
Change in Working Capital	-110.9	-16.68	-139.33	4.78	-38.4

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