SHA:688078 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	33.03	84.32	80.01	63.08
Depreciation & Amortization	8.51	8.22	5.35	2.57
Other Amortization	1.42	0.74	0.28	0.1
Loss (Gain) From Sale of Assets	-0.04	-	0.04	-0.01
Asset Writedown & Restructuring Costs	0	0	0	0.9
Loss (Gain) From Sale of Investments	1.31	-2.26	-1.08	-0.18
Provision & Write-off of Bad Debts	22.42	32.45	34.68	16.56
Other Operating Activities	1.53	2.12	-0.07	0.22
Change in Accounts Receivable	-36.23	-171.41	-224.63	-152.02
Change in Inventory	-26.57	9.32	9.1	2.05
Change in Accounts Payable	15.69	30.66	80.65	51.4
Change in Other Net Operating Assets	2.63	3.82	7.92	7.77
Operating Cash Flow	21.86	-3.42	-7.51	-11.6
Capital Expenditures	-7.31	-4.74	-6.46	-38.37
Sale of Property, Plant & Equipment	0.03	0.04	0.02	0.04
Cash Acquisitions	-2.7	-2.23	-	-
Sale (Purchase) of Real Estate	-	-	-	-4.62
Investment in Securities	-15.8	-26.63	-63.37	2.6
Other Investing Activities	2.09	1.08	5.46	0.29
Investing Cash Flow	-23.68	-32.47	-64.36	-40.06
Short-Term Debt Issued	8	5	-	18.5
Total Debt Issued	8	5	-	18.5
Short-Term Debt Repaid	-8	-	-14.5	-4
Long-Term Debt Repaid	-3.92	-3.64	-1.79	-0.94
Total Debt Repaid	-11.92	-3.64	-16.29	-4.94
Net Debt Issued (Repaid)	-3.92	1.36	-16.29	13.56
Issuance of Common Stock	16.52	9.47	10.01	-
Repurchase of Common Stock	-5.33	-	-	-
Common Dividends Paid	-26.1	-24.31	-19.51	-15.59
Dividends Paid	-26.1	-24.31	-19.51	-15.59
Other Financing Activities	4.47	-	-	-1.74
Financing Cash Flow	-14.37	-13.48	-25.79	-3.78
Net Cash Flow	-16.19	-49.38	-97.66	-55.44
Free Cash Flow	14.55	-8.16	-13.97	-49.98
Free Cash Flow Margin	4.43%	-2.06%	-3.83%	-17.18%
Free Cash Flow Per Share	0.20	-0.11	-0.19	-0.68
Cash Income Tax Paid	25.47	25.18	25.53	11.14
Levered Free Cash Flow	12.4	-42.43	-43.54	-81.8
Unlevered Free Cash Flow	12.58	-42.3	-43.15	-81.66
Change in Working Capital	-46.32	-129	-126.73	-94.83

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