SHA:688052 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	-228.87	-402.88	-305.33	250.57	223.74
Depreciation & Amortization	235.09	129.1	101.1	61.15	27.97
Other Amortization	10.28	28.08	6.78	4.35	2.12
Loss (Gain) From Sale of Assets	0.46	0.13	-1.02	-	0.03
Asset Writedown & Restructuring Costs	72.97	0.9	0.58	0.39	4.25
Loss (Gain) From Sale of Investments	-27.55	-38.65	-64.4	-53.02	-0.06
Provision & Write-off of Bad Debts	-	13.47	0.57	6.71	2.94
Other Operating Activities	42.59	106.31	70.31	34.62	3.41
Change in Accounts Receivable	-319.06	-53.37	5.83	-421.65	-132.74
Change in Inventory	-730.36	21.12	-284.12	-414.03	-141.2
Change in Accounts Payable	246.2	223.16	103.21	129.15	103.64
Change in Other Net Operating Assets	89.88	67.5	224.09	196.83	8.88
Operating Cash Flow	-626.63	95.05	-139.41	-228.83	100.59
Capital Expenditures	-402.39	-376.19	-890.5	-397.54	-187.27
Sale of Property, Plant & Equipment	0	0.05	0.01	-	0.09
Cash Acquisitions	-153.94	-740.43	-	-	-
Divestitures	-	-	-	40.23	-
Investment in Securities	-130.2	37.57	1,186	-3,614	1.07
Other Investing Activities	915.56	-20.8	0.88	-0.5	-
Investing Cash Flow	229.02	-1,100	296.01	-3,972	-186.11
Long-Term Debt Issued	185.87	495.43	744.1	355.47	113.46
Long-Term Debt Repaid	-62.34	-284.19	-196.64	-447.08	-67.62
Net Debt Issued (Repaid)	123.54	211.24	547.46	-91.61	45.84
Issuance of Common Stock	1,938	71.97	-	5,811	-
Repurchase of Common Stock	-	-	-200.11	-	-
Common Dividends Paid	-21	-15.25	-85.83	-87.31	-2.43
Dividends Paid	-21	-15.25	-85.83	-87.31	-2.43
Other Financing Activities	-176	-1.14	70.64	-242.38	-4.32
Financing Cash Flow	1,864	266.81	332.16	5,390	39.09
Foreign Exchange Rate Adjustments	-14.38	-1.05	-2.18	-2.55	0.22
Net Cash Flow	1,452	-738.98	486.57	1,187	-46.21
Free Cash Flow	-1,029	-281.14	-1,030	-626.37	-86.68
Free Cash Flow Margin	-30.55%	-14.34%	-78.56%	-37.50%	-10.05%
Free Cash Flow Per Share	-7.19	-2.00	-7.25	-4.82	-0.82
Cash Income Tax Paid	13.26	-41.04	5.34	49.49	49.86
Levered Free Cash Flow	-1,008	-251.07	-1,110	-458.66	-168.25
Unlevered Free Cash Flow	-1,008	-241.33	-1,107	-454.66	-166.75
Change in Working Capital	-731.59	258.61	52.01	-533.6	-163.81

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