SHA:688018 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	497.84	339.32	136.2	97.32	198.43
Depreciation & Amortization	52.32	39.32	31.62	27.06	18.71
Other Amortization	9.95	7.41	5.53	4.13	4.97
Loss (Gain) From Sale of Assets	0.01	0	0.01	-	0
Asset Writedown & Restructuring Costs	0.17	1	0	-	0
Loss (Gain) From Sale of Investments	-25.6	-21.04	-28.19	-25.38	-25.3
Provision & Write-off of Bad Debts	0.87	1.29	0.31	0.11	0.01
Other Operating Activities	20	9.07	4.76	9.94	1.67
Change in Accounts Receivable	0.13	-105.2	-66.26	122.51	-159.35
Change in Inventory	-152.16	-217.73	205.79	-118.52	-129.9
Change in Accounts Payable	68.67	132.89	27.75	-48.31	91.38
Change in Other Net Operating Assets	43.88	37.66	18.74	14.73	21.96
Operating Cash Flow	522.62	220.47	302.6	71.32	31.46
Operating Cash Flow Growth	137.05%	-27.14%	324.27%	126.70%	-12.74%
Capital Expenditures	-515.73	-97.67	-49.36	-26.22	-31.91
Sale of Property, Plant & Equipment	0.03	0.02	0.03	-	0.01
Cash Acquisitions	-	-84.63	-	-	-
Investment in Securities	-1,414	331.53	-62.72	71.88	-91.07
Other Investing Activities	17.78	4.99	6.95	6.72	3.27
Investing Cash Flow	-1,913	153.97	-104.78	52.27	-119.67
Short-Term Debt Issued	383.35	20	-	-	-
Total Debt Issued	383.35	20	-	-	-
Short-Term Debt Repaid	-383.85	-19.5	-	-	-
Long-Term Debt Repaid	-12.71	-15.89	-14.11	-10.39	-8.82
Total Debt Repaid	-396.56	-35.39	-14.11	-10.39	-8.82
Net Debt Issued (Repaid)	-13.21	-15.39	-14.11	-10.39	-8.82
Issuance of Common Stock	1,842	13.68	30.26	28.64	10
Repurchase of Common Stock	-	-88.77	-106	-40.97	-
Common Dividends Paid	-70.9	-78.3	-	-128.72	-40.02
Other Financing Activities	-0.69	-	-	-	-
Financing Cash Flow	1,757	-168.78	-89.85	-151.44	-38.83
Foreign Exchange Rate Adjustments	-16.12	2.4	0.92	11.39	-9.05
Net Cash Flow	350.39	208.07	108.89	-16.47	-136.1
Free Cash Flow	6.89	122.8	253.24	45.1	-0.45
Free Cash Flow Growth	-94.39%	-51.51%	461.49%	-	-
Free Cash Flow Margin	0.27%	6.12%	17.67%	3.55%	-0.03%
Free Cash Flow Per Share	0.04	0.79	1.61	0.29	-0.00
Cash Income Tax Paid	-4.27	-24.19	3.86	-3.69	4.21
Levered Free Cash Flow	-248.46	-32.72	212.37	0.03	-76.4
Unlevered Free Cash Flow	-245.34	-32.12	212.94	0.51	-76.02
Change in Working Capital	-32.93	-155.91	152.36	-41.86	-167.03

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