SHA:688186 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	284.09	114.64	109.21	102.93	176.1	173.16
Depreciation & Amortization	333.74	333.74	266.72	202.74	172.54	94.81
Other Amortization	9.35	9.35	2.87	4.25	5.14	2.15
Loss (Gain) From Sale of Assets	-0.03	-0.03	0.1	-0.9	1.5	2.23
Asset Writedown & Restructuring Costs	0.12	0.12	3.1	0.2	25.67	15.16
Loss (Gain) From Sale of Investments	-	-	0.05	6.15	-3.96	1.38
Provision & Write-off of Bad Debts	25.91	25.91	18.32	14.63	-	-
Other Operating Activities	247.83	153.99	123.21	77.49	64.02	39.7
Change in Accounts Receivable	-1,009	-1,009	-1,051	-1,217	-1,211	-850.81
Change in Inventory	-347.25	-347.25	-111.6	-534.61	-597.47	-205.54
Change in Accounts Payable	453.88	453.88	-151.74	718.95	687.21	564.01
Change in Other Net Operating Assets	3.65	3.65	5.47	1.75	-2.52	0.47
Operating Cash Flow	1.92	-261.37	-794.95	-640.1	-696.35	-162.81
Capital Expenditures	-217.8	-490.78	-960.91	-808.47	-1,217	-771.88
Sale of Property, Plant & Equipment	0.1	0.1	0.3	38.53	4.36	1.91
Investment in Securities	-	-	0.01	30	-28.97	0.33
Other Investing Activities	-26.57	-	0	2.99	-	-
Investing Cash Flow	-244.27	-490.68	-960.6	-736.94	-1,242	-769.65
Short-Term Debt Issued	-	532.52	705.45	423.02	233.3	-
Long-Term Debt Issued	-	1,341	1,785	3,736	1,650	1,184
Total Debt Issued	4,004	1,873	2,490	4,159	1,883	1,184
Long-Term Debt Repaid	-	-784.57	-1,308	-1,917	-874.9	-652.74
Total Debt Repaid	-1,013	-784.57	-1,308	-1,917	-874.9	-652.74
Net Debt Issued (Repaid)	2,991	1,089	1,182	2,242	1,008	531.5
Issuance of Common Stock	-	-	-	-	1,292	661.34
Common Dividends Paid	-186.51	-121.09	-128.23	-171.8	-158.58	-122.04
Other Financing Activities	-615.01	50	-37.38	122.22	-186.66	-32.51
Financing Cash Flow	2,189	1,018	1,016	2,192	1,955	1,038
Foreign Exchange Rate Adjustments	23.75	18.9	10.24	17.46	-10.22	1.03
Net Cash Flow	1,971	284.51	-728.97	832.88	6.37	106.86
Free Cash Flow	-215.88	-752.15	-1,756	-1,449	-1,914	-934.69
Free Cash Flow Margin	-4.48%	-18.79%	-46.35%	-43.02%	-69.91%	-51.63%
Free Cash Flow Per Share	-0.88	-3.21	-7.56	-6.75	-10.32	-5.94
Cash Income Tax Paid	108.78	87.21	-75.89	100.3	66.61	93.4
Levered Free Cash Flow	-11.99	-139.4	-1,160	-1,016	-1,354	-459.31
Unlevered Free Cash Flow	79.62	-48.91	-1,099	-965.11	-1,311	-432.2
Change in Working Capital	-899.1	-899.1	-1,319	-1,048	-1,137	-491.41

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.