SHA:688019 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	783.65	533.64	402.73	301.44	125.08
Depreciation & Amortization	140.17	115.21	85.83	67.75	39.34
Other Amortization	52.35	42.2	22.41	5.92	5.56
Loss (Gain) From Sale of Assets	0.93	-	0.69	0.06	0.26
Asset Writedown & Restructuring Costs	18.55	-17.47	-4.08	-	-
Loss (Gain) From Sale of Investments	-64.5	17.69	-7.87	9.07	-16.63
Stock-Based Compensation	55.29	43.91	-	-	-
Provision & Write-off of Bad Debts	8.81	5.93	2.5	3.14	5.84
Other Operating Activities	37.23	26.06	1.02	-0.1	7.12
Change in Accounts Receivable	-170	-169.02	-171.04	-82.47	-122.35
Change in Inventory	-469.17	-216.49	37.36	-141.46	-129.23
Change in Accounts Payable	36.07	116.58	29.04	53.12	132.04
Change in Other Net Operating Assets	-0.28	-0.6	0.23	24.76	36.65
Operating Cash Flow	439.77	493.21	336.23	239.12	61.11
Operating Cash Flow Growth	-10.83%	46.69%	40.61%	291.32%	-46.01%
Capital Expenditures	-355.38	-267.37	-337.92	-196.29	-241.12
Sale of Property, Plant & Equipment	0.02	-	-	-	0.14
Cash Acquisitions	-	-	-44.27	-34.33	-
Investment in Securities	-429.59	-106.9	48.72	-30.75	165.67
Other Investing Activities	53.5	22.72	17.65	4.83	42.41
Investing Cash Flow	-731.46	-351.54	-315.82	-256.54	-32.89
Long-Term Debt Issued	161.6	187	78	60	29.1
Total Debt Issued	161.6	187	78	60	29.1
Long-Term Debt Repaid	-343.07	-49.39	-62.68	-45.17	-49.97
Net Debt Issued (Repaid)	-181.47	137.61	15.32	14.83	-20.86
Issuance of Common Stock	857.21	27.94	214.25	8.85	7.25
Repurchase of Common Stock	-	-	-19.75	-	-
Common Dividends Paid	-62.01	-39.29	-34.31	-17.42	-16.35
Other Financing Activities	-2.4	-2.81	-0.59	-	-1.86
Financing Cash Flow	611.32	123.45	174.92	6.26	-31.81
Foreign Exchange Rate Adjustments	-19.37	13.33	3.2	10.08	-1.59
Net Cash Flow	300.27	278.45	198.54	-1.09	-5.19
Free Cash Flow	84.39	225.85	-1.68	42.84	-180.01
Free Cash Flow Growth	-62.63%	-	-	-	-
Free Cash Flow Margin	3.37%	12.31%	-0.14%	3.98%	-26.21%
Free Cash Flow Per Share	0.50	1.35	-0.01	0.26	-1.10
Cash Income Tax Paid	50.76	17.16	41.59	41.63	27.98
Levered Free Cash Flow	-185.83	52.02	-271.39	-79.47	-259.01
Unlevered Free Cash Flow	-162.52	57.94	-266.41	-75.27	-256.66
Change in Working Capital	-592.7	-273.96	-167.01	-148.16	-105.47

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