SHA:603960 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	21.19	27.58	55.06	92.47	64.42	49.82
Depreciation & Amortization	31.4	31.4	31.89	31.76	29.71	28.77
Other Amortization	1.9	1.9	0.64	0.76	0.66	0.7
Loss (Gain) From Sale of Assets	0.01	0.01	-0.15	-0.49	-0.01	-0.17
Asset Writedown & Restructuring Costs	6.05	6.05	0.02	0.02	10.2	0.12
Loss (Gain) From Sale of Investments	-0.97	-0.97	-3.62	-0.55	-0.67	-0.14
Provision & Write-off of Bad Debts	-2.16	-2.16	-1.57	1.86	4.45	2.17
Other Operating Activities	43.34	4.9	-0.14	0.19	4.32	1.97
Change in Accounts Receivable	69.2	69.2	35.14	40.77	-104.12	-53.08
Change in Inventory	-22.98	-22.98	13.72	67.37	-53.62	-75.9
Change in Accounts Payable	-40.09	-40.09	9.52	-57.86	60.6	-33.37
Operating Cash Flow	105.66	73.6	140.36	176.76	16.16	-79.67
Operating Cash Flow Growth	33.34%	-47.56%	-20.59%	993.90%	-	-
Capital Expenditures	-13.58	-18.37	-26.47	-21.97	-42.35	-54.58
Sale of Property, Plant & Equipment	0.02	0.02	0.19	0.96	0.04	0.33
Investment in Securities	-14	-10	-20	-15.6	-	-12.5
Other Investing Activities	1.46	1.5	3.89	-0.99	0.24	-
Investing Cash Flow	-26.1	-26.85	-42.4	-37.6	-42.07	-66.75
Short-Term Debt Issued	-	9	9	-	35	30
Total Debt Issued	6	9	9	-	35	30
Short-Term Debt Repaid	-	-10	-2	-35	-30	-15.32
Total Debt Repaid	-6	-10	-2	-35	-30	-15.32
Net Debt Issued (Repaid)	-	-1	7	-35	5	14.68
Issuance of Common Stock	-	-	-	-	27.74	-
Repurchase of Common Stock	-8.77	-8.77	-0.38	-4.78	-	-
Common Dividends Paid	-15.11	-15.12	-35.38	-20.15	-15.13	-39.53
Other Financing Activities	-	-	3.38	-	-78.68	-0.02
Financing Cash Flow	-23.88	-24.89	-25.38	-59.93	-61.08	-24.86
Foreign Exchange Rate Adjustments	-0.04	0.01	0.01	-0.01	-0	-0
Net Cash Flow	55.65	21.86	72.59	79.23	-86.99	-171.28
Free Cash Flow	92.08	55.23	113.89	154.8	-26.19	-134.24
Free Cash Flow Growth	72.12%	-51.51%	-26.43%	-	-	-
Free Cash Flow Margin	18.82%	11.10%	19.44%	22.49%	-3.87%	-23.93%
Free Cash Flow Per Share	0.35	0.22	0.43	0.59	-0.10	-0.51
Cash Interest Paid	-	-	-	-	0.89	-
Cash Income Tax Paid	23.24	25.68	39.13	46.79	16.43	36.58
Levered Free Cash Flow	63.71	24.28	88.82	99.6	-41.62	-154.39
Unlevered Free Cash Flow	63.8	24.38	88.91	99.9	-40.98	-153.98
Change in Working Capital	4.88	4.88	59.12	50.08	-97.17	-162.89