SHA:688100 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	666.27	630.67	525.26	400.16	341.44
Depreciation & Amortization	32.1	31.01	26.35	22.73	18.77
Other Amortization	8.41	4.49	4.64	7.37	6.41
Loss (Gain) From Sale of Assets	-0.07	-0.02	-0.02	0	-0.09
Asset Writedown & Restructuring Costs	-	-0.56	0.56	-	21.38
Loss (Gain) From Sale of Investments	0.64	7.95	-10.02	-16.56	-8.91
Provision & Write-off of Bad Debts	51.23	17.72	-9.41	24.29	-
Other Operating Activities	1.28	-13.36	23.92	4.26	3.02
Change in Accounts Receivable	-792.19	-510.63	-145.31	-242.47	-166.59
Change in Inventory	24.98	-41.89	-51.73	-28.68	-116.9
Change in Accounts Payable	529.03	352.13	50.76	91.68	147.53
Operating Cash Flow	516.04	473.83	417.4	257.32	245.65
Operating Cash Flow Growth	8.91%	13.52%	62.21%	4.75%	30.27%
Capital Expenditures	-225.09	-89.83	-21.54	-38.24	-37.84
Sale of Property, Plant & Equipment	0.25	0.01	0.01	0	0.34
Investment in Securities	-38	62	-95.56	-56.3	-
Other Investing Activities	-5.82	-13.62	32.64	-11.37	1.67
Investing Cash Flow	-268.66	-41.44	-84.45	-105.91	-35.83
Short-Term Debt Issued	-	-	0.32	8.87	-
Total Debt Issued	-	-	0.32	8.87	-
Long-Term Debt Repaid	-3.54	-6.5	-3.09	-2.54	-1.84
Net Debt Issued (Repaid)	-3.54	-6.5	-2.77	6.33	-1.84
Repurchase of Common Stock	-149.96	-	-141.93	-157.12	-
Common Dividends Paid	-349.11	-211.42	-161.28	-130	-112.5
Other Financing Activities	-	12.68	-	-0.05	50
Financing Cash Flow	-502.61	-205.24	-305.98	-280.84	-64.34
Foreign Exchange Rate Adjustments	-4.08	1.1	-1.8	13.85	-2.19
Net Cash Flow	-259.32	228.25	25.17	-115.58	143.29
Free Cash Flow	290.95	384	395.86	219.07	207.81
Free Cash Flow Growth	-24.23%	-3.00%	80.70%	5.42%	37.59%
Free Cash Flow Margin	9.77%	13.99%	17.79%	10.93%	11.38%
Free Cash Flow Per Share	0.59	0.78	0.81	0.44	0.41
Cash Interest Paid	-	-	-	0.05	-
Cash Income Tax Paid	176.31	123.36	113.49	122.14	93.09
Levered Free Cash Flow	74.06	203.38	298.62	56.19	91.87
Unlevered Free Cash Flow	74.27	203.61	298.65	56.22	91.89
Change in Working Capital	-243.81	-204.07	-143.88	-184.92	-136.36

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