SHA:688126 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	-970.54	186.54	325.03	146.11
Depreciation & Amortization	944.93	727.62	602.49	485.67
Other Amortization	18.68	3.35	2.71	3.05
Loss (Gain) From Sale of Assets	-0.83	-0.33	-	-0.01
Asset Writedown & Restructuring Costs	328.14	1.67	16.56	55.13
Loss (Gain) From Sale of Investments	-136.46	-152.63	-100.84	1.49
Stock-Based Compensation	-	3.68	12.07	33.17
Provision & Write-off of Bad Debts	3.26	11.04	2.39	-0.88
Other Operating Activities	88.9	96.62	190.69	84.36
Change in Accounts Receivable	-820.61	-384.3	-660.23	-274.17
Change in Inventory	-203.7	-705.15	-174.65	-186.16
Change in Accounts Payable	187.81	114.69	365.24	107.84
Change in Unearned Revenue	-176.75	-178.44	-151.69	-141.49
Change in Other Net Operating Assets	0.59	-2.54	-1.06	-0.4
Operating Cash Flow	-787.72	-274.73	458.82	307.49
Operating Cash Flow Growth	-	-	49.21%	-18.34%
Capital Expenditures	-5,069	-4,126	-2,660	-1,324
Sale of Property, Plant & Equipment	0.02	0.25	3.76	19.29
Investment in Securities	130.75	898.47	-3,185	80
Other Investing Activities	799.29	946.92	53.5	4.07
Investing Cash Flow	-4,116	-2,272	-5,777	-1,199
Long-Term Debt Issued	2,548	3,151	386.57	1,717
Total Debt Issued	2,548	3,151	386.57	1,717
Long-Term Debt Repaid	-1,503	-784.85	-763.54	-1,048
Net Debt Issued (Repaid)	1,045	2,366	-376.97	669.39
Issuance of Common Stock	-	53.59	4,989	-
Common Dividends Paid	-286.51	-105.35	-103.75	-91.68
Other Financing Activities	1,681	148.01	5,162	-72.43
Financing Cash Flow	2,440	2,462	9,671	505.28
Foreign Exchange Rate Adjustments	-15.87	21.87	13.01	-16.23
Net Cash Flow	-2,480	-62.62	4,365	-402.09
Free Cash Flow	-5,857	-4,401	-2,201	-1,016
Free Cash Flow Margin	-172.89%	-137.96%	-61.14%	-41.20%
Free Cash Flow Per Share	-2.13	-1.60	-0.81	-0.40
Cash Income Tax Paid	-286.23	-187.67	-291.4	-34.3
Levered Free Cash Flow	-5,344	-4,184	-1,771	-1,211
Unlevered Free Cash Flow	-5,237	-4,137	-1,718	-1,167
Change in Working Capital	-1,064	-1,152	-592.3	-500.6

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