SHA:603959 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	-152.74	-401.45	-117.97	8.59	29.32
Depreciation & Amortization	26.28	33.45	37.27	23.56	17.93
Other Amortization	0.7	4.06	1.7	1	0.64
Loss (Gain) From Sale of Assets	1.03	-0.28	-1.07	0.03	-0.25
Asset Writedown & Restructuring Costs	41.45	104.02	28.39	0.04	0
Loss (Gain) From Sale of Investments	25.03	31.34	84.88	-11.06	-43.47
Provision & Write-off of Bad Debts	-	56.89	49.68	48.92	-2.65
Other Operating Activities	43.26	58.18	55.9	49.51	41.79
Change in Accounts Receivable	343.4	219.95	58.26	-367.17	-280.35
Change in Inventory	36.1	366.33	-291.04	-274.57	-26.92
Change in Accounts Payable	-444.61	-599.13	44.35	743.48	599.85
Operating Cash Flow	-108.81	-159.91	-53.57	202.06	336.35
Operating Cash Flow Growth	-	-	-	-39.92%	-
Capital Expenditures	-0.9	-4.81	-24.43	-88.12	-86.29
Sale of Property, Plant & Equipment	2.92	0.63	0.2	0.1	0.21
Cash Acquisitions	-1.3	-	-	-5.13	-8
Divestitures	15.77	-	-	-	-
Investment in Securities	-	-	-6.5	51	6.95
Other Investing Activities	-	-0.93	0.46	0.1	0.1
Investing Cash Flow	16.49	-5.11	-30.26	-42.05	-87.04
Short-Term Debt Issued	-	-	-	653.79	674.7
Long-Term Debt Issued	906.24	600.69	726.4	-	-
Total Debt Issued	906.24	600.69	726.4	653.79	674.7
Short-Term Debt Repaid	-	-	-	-693.8	-833.47
Long-Term Debt Repaid	-894.55	-615.94	-656.75	-	-
Total Debt Repaid	-894.55	-615.94	-656.75	-693.8	-833.47
Net Debt Issued (Repaid)	11.69	-15.25	69.65	-40.01	-158.77
Common Dividends Paid	-23.33	-24.94	-29.62	-28.27	-33.7
Other Financing Activities	-6.99	197.1	-148.99	1.06	8
Financing Cash Flow	-18.63	156.91	-108.95	-67.22	-184.46
Foreign Exchange Rate Adjustments	-	-0.02	0.01	0.02	-0.01
Net Cash Flow	-110.94	-8.13	-192.78	92.82	64.83
Free Cash Flow	-109.71	-164.72	-78	113.94	250.05
Free Cash Flow Growth	-	-	-	-54.43%	-
Free Cash Flow Margin	-14.80%	-13.54%	-3.77%	3.54%	24.02%
Free Cash Flow Per Share	-0.22	-0.34	-0.16	0.23	0.51
Cash Income Tax Paid	13.64	31.75	69.7	73.07	39.16
Levered Free Cash Flow	-62.75	-72.91	-500.91	411.84	153.13
Unlevered Free Cash Flow	-62.75	-52.08	-479.47	432.2	175.02
Change in Working Capital	-93.82	-46.12	-192.35	81.46	293.04

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