SHA:605016 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	368.55	245.6	193	150.75	104.48
Depreciation & Amortization	98.81	77.13	46.32	47.5	47.17
Other Amortization	5.86	2.79	1.15	1.22	0.6
Loss (Gain) From Sale of Assets	5.55	0.02	-0.08	-0.02	-0.01
Asset Writedown & Restructuring Costs	5.02	0.37	2.21	3.16	3.04
Loss (Gain) From Sale of Investments	-3.45	-8.25	-10.87	-8.89	-6.69
Provision & Write-off of Bad Debts	-	6.24	2.66	4.74	2.37
Other Operating Activities	13.57	4.48	2.37	0.13	1.35
Change in Accounts Receivable	-328.81	-40.68	-60.72	-11.55	-16.93
Change in Inventory	-102.9	-35.44	15.56	-45.63	-31.55
Change in Accounts Payable	74.34	53.01	2.74	8.35	-7.44
Operating Cash Flow	135.45	300.89	194.63	149.82	96.2
Operating Cash Flow Growth	-54.98%	54.60%	29.92%	55.74%	-21.04%
Capital Expenditures	-296.8	-281.81	-311.98	-175.6	-55.82
Sale of Property, Plant & Equipment	0.57	-	0.09	1.37	0.02
Investment in Securities	131	99	80	-85	-245
Other Investing Activities	2.03	9.91	8.17	12.33	3.11
Investing Cash Flow	-163.19	-172.89	-223.72	-246.9	-297.69
Short-Term Debt Issued	-	90	50	-	9.5
Long-Term Debt Issued	402.98	-	-	-	-
Total Debt Issued	402.98	90	50	-	9.5
Short-Term Debt Repaid	-	-80	-50	-1	-59
Long-Term Debt Repaid	-230	-1.71	-1.77	-1.23	-0.52
Total Debt Repaid	-230	-81.71	-51.77	-2.23	-59.52
Net Debt Issued (Repaid)	172.98	8.29	-1.77	-2.23	-50.02
Issuance of Common Stock	-	-	-	-	426.33
Common Dividends Paid	-92.82	-77.99	-32.34	-10.84	-
Other Financing Activities	-2.56	-0.66	-	-	-13.96
Financing Cash Flow	77.6	-70.35	-34.12	-13.07	362.36
Foreign Exchange Rate Adjustments	-7.19	-0.87	0	0.01	-0.01
Net Cash Flow	42.67	56.77	-63.2	-110.14	160.85
Free Cash Flow	-161.35	19.09	-117.34	-25.78	40.38
Free Cash Flow Growth	-	-	-	-	8.06%
Free Cash Flow Margin	-11.70%	1.66%	-13.51%	-3.57%	6.18%
Free Cash Flow Per Share	-0.39	0.04	-0.28	-0.06	0.10
Cash Interest Paid	-	2.66	2.25	0.07	1.34
Cash Income Tax Paid	-1.43	0.68	15.12	9.83	0.37
Levered Free Cash Flow	-135.51	-108.36	-35.66	-40.89	16.96
Unlevered Free Cash Flow	-135.51	-106.7	-34.25	-40.85	17.6
Change in Working Capital	-358.46	-27.48	-42.13	-48.78	-56.12

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.