SHA:688165 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	-157.16	-47.45	-172.87	-193.42
Depreciation & Amortization	42.26	52.78	51.46	59.12
Other Amortization	5.33	0.63	0.31	0.4
Loss (Gain) From Sale of Assets	1.19	-13.67	-1.46	-0.15
Asset Writedown & Restructuring Costs	1.51	0.15	0.05	74
Loss (Gain) From Sale of Investments	17.47	-8.83	-9.66	-23.55
Stock-Based Compensation	12.05	1.71	8.83	22.46
Provision & Write-off of Bad Debts	56.29	33.08	8.39	35.44
Other Operating Activities	86.98	52.96	30.46	-49.93
Change in Accounts Receivable	-66.17	-370.12	-305.05	-87.26
Change in Inventory	-0.21	-17.91	-78.51	-103.02
Change in Accounts Payable	70.46	110.15	374.02	117.83
Change in Other Net Operating Assets	3.48	3.49	0.8	-
Operating Cash Flow	11.41	-224.42	-146.98	-196.91
Capital Expenditures	-53.93	-34.94	-27.32	-29.62
Sale of Property, Plant & Equipment	1.21	31.35	2.59	2.79
Divestitures	19.3	46.85	-	-
Investment in Securities	-93.88	402.17	7.03	319.76
Other Investing Activities	-5.89	8.73	10.08	20.41
Investing Cash Flow	-133.19	454.17	-7.61	313.35
Long-Term Debt Issued	782.25	797.55	511.47	634.97
Long-Term Debt Repaid	-460.94	-760.59	-421.51	-618.28
Net Debt Issued (Repaid)	321.31	36.96	89.97	16.69
Common Dividends Paid	-29.32	-20.56	-24.74	-16.51
Other Financing Activities	8.7	15.58	0.66	36.41
Financing Cash Flow	300.69	31.98	65.89	36.59
Foreign Exchange Rate Adjustments	-8.47	14.14	4.41	-16.16
Net Cash Flow	170.43	275.88	-84.3	136.87
Free Cash Flow	-42.52	-259.36	-174.3	-226.52
Free Cash Flow Margin	-3.10%	-13.75%	-13.13%	-19.75%
Free Cash Flow Per Share	-0.08	-0.49	-0.33	-0.43
Cash Income Tax Paid	-13.65	5.97	3.24	14.48
Levered Free Cash Flow	-68.17	-205.16	-200.04	-282.66
Unlevered Free Cash Flow	-49.1	-189.87	-183.13	-270.04
Change in Working Capital	-54.52	-295.78	-62.5	-121.28

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