SHA:688051 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	-120.76	-103.16	-208.28	-287.69	-129.25
Depreciation & Amortization	34.59	51.61	64.56	71.63	53.26
Other Amortization	4.56	0.59	0.5	0.51	0.12
Loss (Gain) From Sale of Assets	-0.04	0.1	0.01	0.03	0.05
Asset Writedown & Restructuring Costs	10.75	24.45	50.65	24	2
Loss (Gain) From Sale of Investments	-2.24	-1.18	-3.03	-4.39	-7.45
Provision & Write-off of Bad Debts	22.57	14.11	20.65	65.25	127.49
Other Operating Activities	-11.23	-4.63	10.75	29.47	-3.36
Change in Accounts Receivable	57.85	14.1	-20.66	101.37	-209.4
Change in Inventory	14.68	21.62	34.64	-65.57	39.67
Change in Accounts Payable	-28.85	-19.96	-85.35	-159.86	117.6
Change in Other Net Operating Assets	-	0.88	1.95	1.54	12.59
Operating Cash Flow	-13.39	1.49	-128.51	-215.73	-24.36
Capital Expenditures	-1.03	-3.62	-3.44	-19.81	-183.75
Sale of Property, Plant & Equipment	0.1	0.05	1.91	0.03	0.05
Investment in Securities	20	81.67	-59.57	89.9	336.6
Other Investing Activities	0.38	1.22	1.39	73.5	8.77
Investing Cash Flow	19.45	79.32	-59.71	143.62	161.67
Short-Term Debt Issued	2	5.42	10	-	100
Long-Term Debt Issued	93.27	65.01	123.33	97.95	-
Total Debt Issued	95.27	70.43	133.33	97.95	100
Short-Term Debt Repaid	-	-	-	-	-113.03
Long-Term Debt Repaid	-86.68	-118.86	-112.63	-120.21	-4.04
Total Debt Repaid	-86.68	-118.86	-112.63	-120.21	-117.07
Net Debt Issued (Repaid)	8.59	-48.43	20.7	-22.26	-17.07
Common Dividends Paid	-2.72	-4.02	-4.29	-5.16	-56.64
Other Financing Activities	-2	-3	-6	-6.37	-3.45
Financing Cash Flow	3.87	-55.45	10.41	-33.78	-77.16
Foreign Exchange Rate Adjustments	-	-	-	-	-0
Net Cash Flow	9.93	25.36	-177.82	-105.89	60.14
Free Cash Flow	-14.42	-2.13	-131.95	-235.54	-208.11
Free Cash Flow Margin	-6.98%	-0.71%	-40.93%	-90.14%	-42.79%
Free Cash Flow Per Share	-0.19	-0.03	-1.70	-3.05	-2.69
Cash Income Tax Paid	7.66	11.91	12.08	8.13	36.16
Levered Free Cash Flow	-15.65	51.88	-69.01	-130.71	-198.88
Unlevered Free Cash Flow	-13.59	54.67	-65.57	-125.32	-196.1
Change in Working Capital	48.41	19.61	-64.3	-114.53	-67.22

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