SHA:688062 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	-969.33	-1,044	-1,053	-955.23	-769.59
Depreciation & Amortization	212.65	144.72	104.31	89.29	80.46
Other Amortization	6.62	1.5	5.14	6.58	6.82
Loss (Gain) From Sale of Assets	-0.2	-	0	-0.33	-2.06
Asset Writedown & Restructuring Costs	0.1	0.11	3.56	0.02	-
Loss (Gain) From Sale of Investments	8.89	4.07	1.25	-1.8	-3.85
Provision & Write-off of Bad Debts	1.04	0.03	0.03	-0.01	-0.03
Other Operating Activities	93.89	56.42	16.76	9.07	2.48
Change in Accounts Receivable	-30.3	-77.36	-42.88	15.21	-24.01
Change in Inventory	12.52	-57.91	-86.18	-40.88	-7.73
Change in Accounts Payable	366.81	-36.24	149.89	6.57	109.33
Change in Other Net Operating Assets	0.11	28.82	118.2	152.33	185.77
Operating Cash Flow	-290.22	-956.44	-782.73	-719.17	-422.4
Capital Expenditures	-157.71	-330.07	-499.91	-544.96	-217.51
Sale of Property, Plant & Equipment	0	-	0	0.01	-
Cash Acquisitions	-	-	-24	-	-
Investment in Securities	-42.85	35.53	11.72	-60	225.41
Other Investing Activities	1.24	2.99	2.57	2.15	4.94
Investing Cash Flow	-199.31	-291.55	-509.62	-602.8	12.84
Long-Term Debt Issued	3,066	3,605	605.3	460.07	142.87
Total Debt Issued	3,066	3,605	605.3	460.07	142.87
Long-Term Debt Repaid	-2,318	-2,705	-133.06	-37.91	-69.09
Total Debt Repaid	-2,318	-2,705	-133.06	-37.91	-69.09
Net Debt Issued (Repaid)	747.59	900.38	472.23	422.17	73.78
Issuance of Common Stock	-	-	-	3,323	125.95
Repurchase of Common Stock	-50	-	-	-	-
Common Dividends Paid	-78.38	-66.11	-34.1	-13.12	-0.79
Other Financing Activities	172.71	-2.57	6.8	-16.1	-
Financing Cash Flow	791.92	831.7	444.94	3,716	198.94
Foreign Exchange Rate Adjustments	-3.61	0.23	1.4	2.26	-1.01
Net Cash Flow	298.77	-416.07	-846.01	2,396	-211.63
Free Cash Flow	-447.93	-1,287	-1,283	-1,264	-639.91
Free Cash Flow Margin	-67.61%	-643.96%	-1003.35%	-4559.01%	-3943.69%
Free Cash Flow Per Share	-1.12	-3.22	-3.21	-3.23	-2.14
Cash Income Tax Paid	52.12	20.98	-69.09	-141.94	0.99
Levered Free Cash Flow	-271.14	-1,063	-824.71	-925.61	-354.48
Unlevered Free Cash Flow	-214.36	-1,027	-816.37	-919.18	-350.47
Change in Working Capital	356.12	-119.37	139.65	133.23	263.37

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.