SHA:688077 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	57.4	31.87	-42.81	149.73	151.94
Depreciation & Amortization	91.2	79.38	62.13	49.35	35.81
Other Amortization	0.67	0.25	0.49	1.66	0.44
Loss (Gain) From Sale of Assets	-0.25	0.05	-0.12	-0.22	-0.49
Asset Writedown & Restructuring Costs	0.64	1.36	0.95	32.63	3.65
Loss (Gain) From Sale of Investments	-8.28	-4.9	-0.75	-13.65	-11.02
Provision & Write-off of Bad Debts	1.75	2.01	-4.61	2.94	14.56
Other Operating Activities	45.5	50.11	74.69	31.2	5.92
Change in Accounts Receivable	-70.31	-42.71	189.47	-194.39	-368.45
Change in Inventory	-95.23	-71.74	166.8	-129.93	-172.52
Change in Accounts Payable	70.07	83.17	-329.6	-64.47	210.94
Change in Other Net Operating Assets	-	5.46	86.87	12.6	1.47
Operating Cash Flow	82.72	117.21	183.91	-129.81	-129.38
Operating Cash Flow Growth	-29.43%	-36.27%	-	-	-
Capital Expenditures	-108.87	-144.67	-122.53	-181.99	-168.54
Sale of Property, Plant & Equipment	0.55	0.43	0.38	2.61	12.05
Cash Acquisitions	-	-	-3.21	-	-12.62
Investment in Securities	116.35	-51.73	98.47	3.74	111.03
Other Investing Activities	1.43	2.26	2.63	4.53	8.34
Investing Cash Flow	9.46	-193.72	-24.25	-171.1	-49.74
Long-Term Debt Issued	787.18	866.74	709.13	927.2	395.52
Total Debt Issued	787.18	866.74	709.13	927.2	395.52
Long-Term Debt Repaid	-810.37	-755.64	-886.52	-394.86	-90.53
Total Debt Repaid	-810.37	-755.64	-886.52	-394.86	-90.53
Net Debt Issued (Repaid)	-23.19	111.11	-177.39	532.34	304.99
Issuance of Common Stock	-	18.19	0.43	15.08	-
Repurchase of Common Stock	-0.31	-62.21	-	-	-
Common Dividends Paid	-44.08	-43.49	-75.38	-78.03	-34.52
Other Financing Activities	-	9	41	-50	-0.45
Financing Cash Flow	-67.59	32.6	-211.33	419.39	270.02
Foreign Exchange Rate Adjustments	0.14	3.25	2.18	-11.53	-0.92
Net Cash Flow	24.73	-40.67	-49.5	106.95	89.99
Free Cash Flow	-26.15	-27.47	61.38	-311.8	-297.91
Free Cash Flow Margin	-1.59%	-2.08%	4.29%	-14.71%	-18.00%
Free Cash Flow Per Share	-0.23	-0.24	0.55	-2.75	-2.66
Cash Income Tax Paid	-13.94	23.29	22.38	-25.47	-31.52
Levered Free Cash Flow	-162.36	-187.52	89.44	-308.52	-392.89
Unlevered Free Cash Flow	-149.12	-175.98	104.64	-292.26	-390.5
Change in Working Capital	-105.91	-42.93	93.93	-383.45	-330.19

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