SHA:688165 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	-497.09	-157.16	-47.45	-172.87	-193.42
Depreciation & Amortization	51.4	46.75	52.78	51.46	59.12
Other Amortization	11.05	0.84	0.63	0.31	0.4
Loss (Gain) From Sale of Assets	0.58	1.19	-13.67	-1.46	-0.15
Asset Writedown & Restructuring Costs	156.35	1.51	0.15	0.05	74
Loss (Gain) From Sale of Investments	20.57	17.47	-8.83	-9.66	-23.55
Stock-Based Compensation	18.24	12.05	1.71	8.83	22.46
Provision & Write-off of Bad Debts	19.57	56.29	33.08	8.39	35.44
Other Operating Activities	40.4	90.46	52.96	30.46	-49.93
Change in Accounts Receivable	193.28	-66.17	-370.12	-305.05	-87.26
Change in Inventory	-10.22	-0.21	-17.91	-78.51	-103.02
Change in Accounts Payable	-108.57	70.46	110.15	374.02	117.83
Change in Other Net Operating Assets	-	-	3.49	0.8	-
Operating Cash Flow	-197.73	11.41	-224.42	-146.98	-196.91
Capital Expenditures	-184.74	-53.93	-34.94	-27.32	-29.62
Sale of Property, Plant & Equipment	22.78	1.21	31.35	2.59	2.79
Divestitures	98.92	19.3	46.85	-	-
Investment in Securities	33.05	-93.88	402.17	7.03	319.76
Other Investing Activities	16.52	-5.89	8.73	10.08	20.41
Investing Cash Flow	-13.49	-133.19	454.17	-7.61	313.35
Long-Term Debt Issued	554.98	782.25	797.55	511.47	634.97
Long-Term Debt Repaid	-441.03	-460.94	-760.59	-421.51	-618.28
Net Debt Issued (Repaid)	113.94	321.31	36.96	89.97	16.69
Common Dividends Paid	-31.38	-29.32	-20.56	-24.74	-16.51
Other Financing Activities	41.7	8.7	15.58	0.66	36.41
Financing Cash Flow	124.26	300.69	31.98	65.89	36.59
Foreign Exchange Rate Adjustments	18.75	-8.47	14.14	4.41	-16.16
Net Cash Flow	-68.2	170.43	275.88	-84.3	136.87
Free Cash Flow	-382.47	-42.52	-259.36	-174.3	-226.52
Free Cash Flow Margin	-41.03%	-3.10%	-13.75%	-13.13%	-19.75%
Free Cash Flow Per Share	-0.73	-0.08	-0.49	-0.33	-0.43
Cash Income Tax Paid	19.67	-13.65	5.97	3.24	14.48
Levered Free Cash Flow	-251.61	-67.84	-205.16	-200.04	-282.66
Unlevered Free Cash Flow	-231.78	-48.76	-189.87	-183.13	-270.04
Change in Working Capital	-18.8	-58	-295.78	-62.5	-121.28

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