SHA:688039 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	-104.46	-102.19	-138.19	-98.6	61.35
Depreciation & Amortization	50.96	29.22	40.09	26.36	19.43
Other Amortization	3.16	19.91	2.18	1.27	1.18
Loss (Gain) From Sale of Assets	-0.07	4.98	-0	0.02	-
Asset Writedown & Restructuring Costs	56.97	-0.09	1.88	12.78	0.01
Loss (Gain) From Sale of Investments	-2.02	-0.56	-1.9	0.2	-3.28
Provision & Write-off of Bad Debts	-	42.27	57.8	29.86	19.02
Other Operating Activities	8.99	-4.16	-0.9	0.13	-15.93
Change in Accounts Receivable	20.24	16.34	-53.77	68.64	-198.17
Change in Inventory	-35.7	5.31	12.35	6.09	-20.64
Change in Accounts Payable	83.71	7.97	6.04	-66.9	86.03
Change in Other Net Operating Assets	-20.13	-	-	-1.97	11.38
Operating Cash Flow	47.98	-2.65	-97.85	-37.89	-45.2
Capital Expenditures	-40.85	-47.27	-115.39	-262.95	-91.35
Sale of Property, Plant & Equipment	0.56	0.19	0.02	0.17	0.03
Investment in Securities	3.33	-39.27	57.18	32.36	-75.32
Other Investing Activities	0.12	5.31	7.2	6.17	19.64
Investing Cash Flow	-36.84	-81.04	-50.98	-224.25	-147
Short-Term Debt Issued	-	149.7	244.13	166.77	-
Long-Term Debt Issued	201.48	-	-	-	22.01
Total Debt Issued	201.48	149.7	244.13	166.77	22.01
Short-Term Debt Repaid	-	-214.64	-160.1	-113.16	-
Long-Term Debt Repaid	-143.7	-4.83	-5.35	-5.96	-4.32
Total Debt Repaid	-143.7	-219.47	-165.45	-119.12	-4.32
Net Debt Issued (Repaid)	57.78	-69.77	78.67	47.65	17.69
Issuance of Common Stock	-	-	-	-	15.98
Repurchase of Common Stock	-	-	-	-49.96	-
Common Dividends Paid	-2.89	-4.02	-4.92	-22.79	-40.29
Other Financing Activities	-8.8	2.98	-	8.7	-
Financing Cash Flow	46.09	-70.81	73.76	-16.41	-6.62
Foreign Exchange Rate Adjustments	-2.06	1.49	-0.77	-3.62	-0.4
Net Cash Flow	55.17	-153.01	-75.85	-282.17	-199.23
Free Cash Flow	7.13	-49.92	-213.23	-300.84	-136.56
Free Cash Flow Margin	2.21%	-16.28%	-64.10%	-90.77%	-32.65%
Free Cash Flow Per Share	0.07	-0.44	-1.93	-2.69	-1.22
Cash Income Tax Paid	2.04	1.8	0.82	23.16	14.45
Levered Free Cash Flow	67.82	-27.69	-169.81	-293.03	-150.57
Unlevered Free Cash Flow	67.82	-24.55	-166.49	-291.09	-150.23
Change in Working Capital	34.45	7.98	-58.81	-9.91	-126.97

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