SHA:603976 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	14.82	18.9	53.25	40.27	64.77	106.6
Depreciation & Amortization	106.67	106.67	114.61	105.69	86.46	66.8
Other Amortization	0.95	0.95	1.52	1.65	1.38	1.52
Loss (Gain) From Sale of Assets	-	-	-	0.02	-	-0.03
Asset Writedown & Restructuring Costs	0.83	0.83	5.3	0.17	1.32	0.56
Loss (Gain) From Sale of Investments	-2.98	-2.98	-3.47	-6.96	-2.57	-6.06
Provision & Write-off of Bad Debts	2.97	2.97	-0.29	0.88	0.61	1.6
Other Operating Activities	49.25	28.65	37.03	23.37	33.49	19.66
Change in Accounts Receivable	2.32	2.32	22.41	-57.43	-109.64	-188.47
Change in Inventory	8.06	8.06	-71.79	10.15	-32.47	-45.52
Change in Accounts Payable	-29.38	-29.38	-50.22	93.27	-12.67	153.32
Operating Cash Flow	152.98	136.47	112.18	194.2	38.43	104.97
Operating Cash Flow Growth	20.77%	21.65%	-42.23%	405.37%	-63.39%	-13.82%
Capital Expenditures	-26.35	-27.09	-71.98	-89.97	-276.09	-137.55
Sale of Property, Plant & Equipment	0.03	0.03	0.15	0.04	-	0.15
Investment in Securities	-6.97	143.03	-37	-84.09	90	-250
Other Investing Activities	0.08	8.49	-3.51	-2.73	17.06	1.51
Investing Cash Flow	-33.21	124.46	-112.33	-176.75	-169.03	-385.89
Short-Term Debt Issued	-	-	-	60	60	50
Total Debt Issued	-	-	-	60	60	50
Short-Term Debt Repaid	-	-	-30	-90	-50	-49.7
Long-Term Debt Repaid	-	-0.24	-0.21	-0.32	-0.28	-0.39
Total Debt Repaid	-0.24	-0.24	-30.21	-90.32	-50.28	-50.09
Net Debt Issued (Repaid)	-0.24	-0.24	-30.21	-30.32	9.72	-0.09
Issuance of Common Stock	-	-	-	-	-	405
Common Dividends Paid	-44.48	-44.48	-50.68	-13.33	-49.65	-6.2
Other Financing Activities	-0.01	-	-	-	6.02	-11.61
Financing Cash Flow	-44.73	-44.72	-80.89	-43.64	-33.91	387.1
Foreign Exchange Rate Adjustments	0.18	0.18	-0.03	0.02	0.16	-0.01
Net Cash Flow	75.22	216.39	-81.07	-26.18	-164.35	106.17
Free Cash Flow	126.63	109.38	40.2	104.22	-237.66	-32.58
Free Cash Flow Growth	68.11%	172.09%	-61.43%	-	-	-
Free Cash Flow Margin	17.80%	16.46%	5.02%	11.57%	-29.85%	-4.09%
Free Cash Flow Per Share	0.90	0.75	0.26	0.70	-1.58	-0.22
Cash Income Tax Paid	50.3	39.67	39.46	39.77	50.4	46.29
Levered Free Cash Flow	-60.3	83.33	-17.57	62.65	-273.57	-14.41
Unlevered Free Cash Flow	-46.88	96.65	-4.47	75.94	-261.32	-6.24
Change in Working Capital	-19.52	-19.52	-95.77	29.11	-147.05	-85.68

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