SHA:688066 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-1,393	-374.21	264.45	199.95
Depreciation & Amortization	120.26	127.07	89.38	44.8
Other Amortization	32.61	21.22	12.99	7.28
Loss (Gain) From Sale of Assets	-0.6	-0.75	-0.64	0
Asset Writedown & Restructuring Costs	1.75	1.96	2.79	1.2
Loss (Gain) From Sale of Investments	-3.96	-5.78	-0.97	-6.03
Provision & Write-off of Bad Debts	193.55	153.19	108.21	75.17
Other Operating Activities	1,056	102.78	41.58	14.64
Change in Accounts Receivable	19.68	-235.79	-989.68	-618.24
Change in Inventory	-202.75	-768.49	-549.34	-108.32
Change in Accounts Payable	117.07	159.23	508.31	256.79
Change in Other Net Operating Assets	-	1.31	34.09	25.77
Operating Cash Flow	-222.17	-869.8	-488	-119.01
Capital Expenditures	-131.5	-116.3	-291.62	-573.16
Sale of Property, Plant & Equipment	0.05	0.06	0.01	0.01
Divestitures	-	-	-	-0.12
Investment in Securities	-0.76	-248	-	190.7
Other Investing Activities	0.98	0.17	0.74	4.29
Investing Cash Flow	-131.23	-364.07	-290.88	-378.28
Short-Term Debt Issued	450	-	-	-
Long-Term Debt Issued	941.57	1,597	1,907	491.09
Total Debt Issued	1,392	1,597	1,907	491.09
Short-Term Debt Repaid	-450	-	-	-
Long-Term Debt Repaid	-1,746	-950.71	-450.52	-159.6
Total Debt Repaid	-2,196	-950.71	-450.52	-159.6
Net Debt Issued (Repaid)	-804.41	646.71	1,457	331.49
Issuance of Common Stock	1.24	51.75	22.27	697.77
Repurchase of Common Stock	-	-51.99	-	-
Common Dividends Paid	-69.98	-74.9	-48.43	-22.44
Other Financing Activities	301.07	-9.6	46.5	-
Financing Cash Flow	-572.08	561.97	1,477	1,007
Foreign Exchange Rate Adjustments	-0.23	0.64	1.98	0.06
Net Cash Flow	-925.71	-671.25	700.4	509.6
Free Cash Flow	-353.67	-986.09	-779.62	-692.16
Free Cash Flow Margin	-22.45%	-54.22%	-31.73%	-47.14%
Free Cash Flow Per Share	-1.35	-4.29	-3.01	-2.79
Cash Income Tax Paid	16.96	32.85	29.83	23.85
Levered Free Cash Flow	325.78	-954.09	-966.17	-839.29
Unlevered Free Cash Flow	398.21	-890.96	-939.49	-831.11
Change in Working Capital	-228.67	-895.27	-1,006	-456.02

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