SHA:688125 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	-119.47	-108.38	-30.75	29.17	157.11	152.77
Depreciation & Amortization	25.94	25.94	17.34	15.75	13	12.35
Other Amortization	2.35	2.35	2.1	2.31	3.24	0.39
Loss (Gain) From Sale of Assets	0.03	0.03	-0.82	-0.98	-0.01	-0.02
Asset Writedown & Restructuring Costs	53.24	53.24	0.02	-	-	0.01
Loss (Gain) From Sale of Investments	-5.58	-5.58	-10.41	-12.74	-0.65	-7.62
Provision & Write-off of Bad Debts	-	-	12.91	-0.5	1.7	1.29
Other Operating Activities	-72.21	8.69	9.23	5.64	-12.95	18.11
Change in Accounts Receivable	-57.63	-57.63	-234.51	29.09	-39.81	1.42
Change in Inventory	-71.07	-71.07	-81.79	-49.63	23.75	-60.34
Change in Accounts Payable	174.72	174.72	108.73	40.49	-12.58	2.8
Change in Other Net Operating Assets	10.46	10.46	16.43	11.04	9.2	9.2
Operating Cash Flow	-98.61	-6.62	-217.24	61.45	140.47	129.08
Operating Cash Flow Growth	-	-	-	-56.25%	8.83%	54.73%
Capital Expenditures	-110.08	-122.26	-213.17	-38.32	-8.28	-8.25
Sale of Property, Plant & Equipment	0.07	0.1	1.17	1.12	-	0.04
Investment in Securities	548.84	-94.83	150	-130	-285.26	-61.7
Other Investing Activities	8.94	9.02	11.36	11.59	-1.48	5.87
Investing Cash Flow	447.77	-207.97	-50.64	-155.62	-295.01	-64.04
Long-Term Debt Repaid	-	-	-5.66	-4	-3.85	-2.79
Net Debt Issued (Repaid)	30.5	-	-5.66	-4	-3.85	-2.79
Issuance of Common Stock	14.43	14.43	11.18	-	1,141	-
Common Dividends Paid	-	-	-12.23	-40.4	-80.81	-
Other Financing Activities	-4.08	-4.28	-	0.04	-17.39	2
Financing Cash Flow	40.86	10.15	-6.71	-44.37	1,039	-0.79
Foreign Exchange Rate Adjustments	-2.82	0.3	2.84	1.69	17.63	-13.64
Net Cash Flow	387.2	-204.14	-271.75	-136.85	901.6	50.61
Free Cash Flow	-208.69	-128.88	-430.41	23.12	132.19	120.83
Free Cash Flow Growth	-	-	-	-82.51%	9.40%	61.16%
Free Cash Flow Margin	-29.80%	-18.45%	-60.53%	4.90%	20.30%	19.24%
Free Cash Flow Per Share	-2.54	-1.57	-5.32	0.28	1.78	1.99
Cash Income Tax Paid	-	-1.49	-14.37	9.05	27.12	19.75
Levered Free Cash Flow	-158.03	-107.6	-394.27	43.79	77.03	69.74
Unlevered Free Cash Flow	-158.03	-107.6	-393.96	44.03	77.16	69.86
Change in Working Capital	17.07	17.07	-216.87	22.79	-20.97	-48.21

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