SHA:688112 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	140.24	142.59	112.11	155.26	140.77	81.06
Depreciation & Amortization	26.09	26.09	21.82	13.75	9.45	5.91
Other Amortization	4.92	4.92	1.88	0.83	0.5	0.24
Loss (Gain) From Sale of Assets	-0.22	-0.22	-0.19	-0	-0	-0
Asset Writedown & Restructuring Costs	0.01	0.01	0.01	0.05	-	-
Loss (Gain) From Sale of Investments	-	-	-	-1.47	-0.66	-
Provision & Write-off of Bad Debts	-0.17	-0.17	2.06	-0.99	2.82	1.03
Other Operating Activities	-61.45	-0.84	3.21	-3.9	-2.53	5.6
Change in Accounts Receivable	-30.02	-30.02	8.7	-4.29	-80.43	-25.97
Change in Inventory	20	20	-31.74	-52.13	-57.69	-46.22
Change in Accounts Payable	21.68	21.68	4.36	-4.15	21.27	15.22
Change in Other Net Operating Assets	1.78	1.78	-1.29	1.91	2.46	-0.04
Operating Cash Flow	117.37	180.33	118.05	106.27	29.12	36.56
Operating Cash Flow Growth	-22.04%	52.75%	11.09%	264.99%	-20.37%	-33.78%
Capital Expenditures	-29.83	-28.66	-34.27	-21.2	-16.45	-7.04
Sale of Property, Plant & Equipment	-	-	0.01	0.01	0.01	0.03
Other Investing Activities	-	-	-	1.47	0.66	-
Investing Cash Flow	-29.83	-28.66	-34.26	-19.72	-15.79	-7.01
Long-Term Debt Repaid	-	-14.39	-11.89	-7.43	-6.23	-3.88
Net Debt Issued (Repaid)	-14.39	-14.39	-11.89	-7.43	-6.23	-3.88
Issuance of Common Stock	7.73	7.73	-	8.08	-	1,151
Common Dividends Paid	-81.19	-81.19	-140.1	-90.67	-50	-
Other Financing Activities	0.14	-	-	-	-	-
Financing Cash Flow	-87.7	-87.85	-151.99	-90.02	-56.23	1,147
Foreign Exchange Rate Adjustments	-5.69	4.94	0.33	6.08	9.19	-5.8
Net Cash Flow	-5.86	68.77	-67.86	2.61	-33.71	1,171
Free Cash Flow	87.54	151.67	83.79	85.07	12.67	29.52
Free Cash Flow Growth	-22.58%	81.02%	-1.51%	571.55%	-57.09%	-44.08%
Free Cash Flow Margin	13.85%	25.19%	16.84%	17.60%	3.19%	9.72%
Free Cash Flow Per Share	0.55	0.96	0.52	0.54	0.08	0.24
Cash Income Tax Paid	24.39	14.67	-8.58	-10.69	-8.64	-9.89
Levered Free Cash Flow	44.19	77.16	8.29	40.96	-24.93	-3.62
Unlevered Free Cash Flow	45.26	78.22	9.31	41.52	-24.41	-3.32
Change in Working Capital	7.95	7.95	-22.85	-57.25	-121.24	-57.27

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