SHA:605128 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	178.51	137.05	91.18	45.74	70.48
Depreciation & Amortization	95.57	93.14	71.62	48.57	39.16
Other Amortization	127.88	166.66	100.87	52.69	39.11
Loss (Gain) From Sale of Assets	0.31	2.6	1.99	0.25	-0.42
Asset Writedown & Restructuring Costs	8.93	-	-	-	0.73
Loss (Gain) From Sale of Investments	2.53	20.59	-2.99	-2.78	-5.68
Provision & Write-off of Bad Debts	-	11.84	1.75	-4.12	7.15
Other Operating Activities	28.39	34.3	18.31	6.93	0.86
Change in Accounts Receivable	-445.67	-389.72	-377.8	-337.6	-15.61
Change in Inventory	-19.2	42.1	-47.78	-51.28	-58.85
Change in Accounts Payable	409.41	132.94	188.57	295.7	39.08
Change in Other Net Operating Assets	-	-	4.71	5.97	-10.67
Operating Cash Flow	377.22	253.17	53.39	50.4	100.15
Operating Cash Flow Growth	48.99%	374.20%	5.93%	-49.68%	-17.24%
Capital Expenditures	-182.89	-190.7	-306.73	-330.52	-181.11
Sale of Property, Plant & Equipment	19.83	-	3.97	0.16	2.53
Investment in Securities	-4.16	-10	79	-109	180.83
Other Investing Activities	0.54	0.71	-0.02	-	3.67
Investing Cash Flow	-166.68	-199.99	-223.78	-439.36	5.92
Short-Term Debt Issued	-	116	36	452.46	15
Long-Term Debt Issued	5	0.7	-	-	-
Total Debt Issued	5	116.7	36	452.46	15
Long-Term Debt Repaid	-96.48	-56.11	-20.67	-95.12	-31.51
Total Debt Repaid	-96.48	-56.11	-20.67	-95.12	-31.51
Net Debt Issued (Repaid)	-91.48	60.58	15.33	357.33	-16.51
Issuance of Common Stock	-	376.6	-	-	-
Repurchase of Common Stock	-	-30	-	-	-
Common Dividends Paid	-54.83	-35.5	-11.95	-8.77	-50.45
Other Financing Activities	-14.45	-0.57	-0.38	-2.23	3.96
Financing Cash Flow	-160.76	371.12	3	346.33	-63
Foreign Exchange Rate Adjustments	0	0.02	0.03	0.04	-
Net Cash Flow	49.78	424.33	-167.35	-42.58	43.07
Free Cash Flow	194.33	62.47	-253.34	-280.12	-80.96
Free Cash Flow Growth	211.07%	-	-	-	-
Free Cash Flow Margin	8.03%	2.74%	-16.68%	-24.97%	-9.80%
Free Cash Flow Per Share	0.94	0.35	-1.40	-1.58	-0.46
Cash Income Tax Paid	137.48	69.07	55.25	37.48	41.09
Levered Free Cash Flow	177.46	-22.88	-230.84	-279.53	-120.05
Unlevered Free Cash Flow	177.46	-9.4	-222.5	-276.77	-119.23
Change in Working Capital	-64.91	-213.01	-229.34	-96.88	-51.23

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