SHA:688096 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	-24.73	-29.23	52.64	56.33
Depreciation & Amortization	42.13	26.6	15.98	7.63
Other Amortization	1.89	0.14	0.09	0.05
Loss (Gain) From Sale of Assets	0.01	-0.08	-	0.01
Asset Writedown & Restructuring Costs	-1.23	-0.92	1.06	-0.63
Loss (Gain) From Sale of Investments	0.13	-2.15	-0.24	-2.4
Provision & Write-off of Bad Debts	6.87	35.02	19.5	20.41
Other Operating Activities	37.73	30.77	15.89	6.13
Change in Accounts Receivable	35.55	-68.26	-186.55	-176.68
Change in Inventory	27.92	-70.19	-56.03	-22.32
Change in Accounts Payable	-116.75	0.71	64.82	3.49
Change in Other Net Operating Assets	0.58	-3.32	6.62	5.87
Operating Cash Flow	3.85	-88.55	-72.58	-106.75
Capital Expenditures	-146.42	-218.55	-78.2	-58.13
Sale of Property, Plant & Equipment	0.07	0.1	-	0.08
Cash Acquisitions	-	-	0.05	-
Divestitures	-	-	-	0.26
Investment in Securities	-1.69	150.6	-158.61	61.59
Other Investing Activities	0.03	2.94	0.9	8.8
Investing Cash Flow	-148.01	-64.9	-235.86	9.1
Long-Term Debt Issued	308.96	377.32	217.98	174.82
Total Debt Issued	308.96	377.32	217.98	174.82
Long-Term Debt Repaid	-284.34	-215.8	-139.35	-84
Total Debt Repaid	-284.34	-215.8	-139.35	-84
Net Debt Issued (Repaid)	24.61	161.52	78.63	90.83
Issuance of Common Stock	7.07	-	6.04	-
Repurchase of Common Stock	-13	-	-	-
Common Dividends Paid	-12.77	-27.33	-50.59	-5.89
Dividends Paid	-12.77	-27.33	-50.59	-5.89
Other Financing Activities	50.67	-1.61	310.71	-0.92
Financing Cash Flow	56.58	132.58	344.78	84.01
Net Cash Flow	-87.58	-20.88	36.35	-13.64
Free Cash Flow	-142.56	-307.1	-150.78	-164.88
Free Cash Flow Margin	-29.94%	-77.52%	-29.32%	-39.06%
Free Cash Flow Per Share	-0.66	-1.43	-0.72	-0.78
Cash Interest Paid	2.33	1.66	-	-
Cash Income Tax Paid	8.83	18.36	28.77	20.37
Levered Free Cash Flow	-69.98	-316.74	-188.39	-156.26
Unlevered Free Cash Flow	-48.55	-297.58	-178.52	-152.94
Change in Working Capital	-58.93	-148.69	-177.5	-194.26

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