SHA:688031 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	-245.17	-343.46	-288.24	-271.35	-244.68
Depreciation & Amortization	29.33	55.16	33.67	27.6	24.96
Other Amortization	15.51	0.82	2	2.27	3.07
Loss (Gain) From Sale of Assets	-0.08	-1.02	-0.15	0.01	-0
Asset Writedown & Restructuring Costs	6.98	1.87	1.68	1.05	0.67
Loss (Gain) From Sale of Investments	-5.93	-17.03	-29.51	-9.76	-15.25
Provision & Write-off of Bad Debts	36.04	10.66	14.19	6.94	4.38
Other Operating Activities	6.25	12.64	11.02	0.93	2.61
Change in Accounts Receivable	6.39	24.3	-171.92	-69.49	-71.21
Change in Inventory	5.73	-10.37	-9.88	-8.42	-14.62
Change in Accounts Payable	35.32	-59.06	51.38	3.36	39.1
Change in Other Net Operating Assets	-0	-1.11	20.32	16.89	32.57
Operating Cash Flow	-109.65	-326.59	-365.43	-299.96	-238.4
Capital Expenditures	-44.15	-38	-133.29	-30.99	-11.79
Sale of Property, Plant & Equipment	0.27	0.02	0.01	0.02	0.01
Investment in Securities	-14.82	575.36	540.46	-800.63	-80.32
Other Investing Activities	4.99	18.08	27.05	9.34	14.73
Investing Cash Flow	-53.71	555.46	434.23	-822.25	-77.38
Short-Term Debt Issued	40	40	85.5	-	-
Total Debt Issued	40	40	85.5	-	-
Short-Term Debt Repaid	-50	-55.5	-30	-	-
Long-Term Debt Repaid	-12.84	-20.84	-22.68	-21.53	-19.3
Total Debt Repaid	-62.84	-76.34	-52.68	-21.53	-19.3
Net Debt Issued (Repaid)	-22.84	-36.34	32.82	-21.53	-19.3
Issuance of Common Stock	13.24	-	-	1,376	50
Common Dividends Paid	-1.03	-1.38	-1.2	-	-
Other Financing Activities	-13.58	-	-	-32.86	-0.75
Financing Cash Flow	-24.21	-37.72	31.62	1,321	29.95
Foreign Exchange Rate Adjustments	-1.75	-0.63	0.22	0.28	0.2
Net Cash Flow	-189.31	190.51	100.64	199.18	-285.62
Free Cash Flow	-153.8	-364.6	-498.72	-330.95	-250.19
Free Cash Flow Margin	-34.37%	-98.14%	-101.61%	-88.82%	-75.62%
Free Cash Flow Per Share	-1.27	-3.02	-4.13	-3.46	-2.76
Cash Income Tax Paid	18.88	19.42	14.24	15.32	14.14
Levered Free Cash Flow	-76.22	-211.19	-387.1	-260.16	-165.34
Unlevered Free Cash Flow	-74.83	-209.35	-385.34	-259.07	-164.51
Change in Working Capital	47.44	-46.24	-110.1	-57.65	-14.16

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