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 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	174.17	243.16	114.64	109.21	102.93	176.1
Depreciation & Amortization	377.53	377.53	333.74	266.72	202.74	172.54
Other Amortization	6.86	6.86	9.35	2.87	4.25	5.14
Loss (Gain) From Sale of Assets	-3.39	-3.39	-0.03	0.1	-0.9	1.5
Asset Writedown & Restructuring Costs	11.3	11.3	0.12	3.1	0.2	25.67
Loss (Gain) From Sale of Investments	-	-	-	0.05	6.15	-3.96
Provision & Write-off of Bad Debts	-	-	25.91	18.32	14.63	-
Other Operating Activities	361.95	169	153.99	123.21	77.49	64.02
Change in Accounts Receivable	-1,625	-1,625	-1,009	-1,051	-1,217	-1,211
Change in Inventory	-323.58	-323.58	-347.25	-111.6	-534.61	-597.47
Change in Accounts Payable	259.06	259.06	453.88	-151.74	718.95	687.21
Change in Other Net Operating Assets	6.74	6.74	3.65	5.47	1.75	-2.52
Operating Cash Flow	-744.76	-868.73	-261.37	-794.95	-640.1	-696.35
Capital Expenditures	-207.78	-192.58	-490.78	-960.91	-808.47	-1,217
Sale of Property, Plant & Equipment	23.35	21.21	0.1	0.3	38.53	4.36
Investment in Securities	-	-	-	0.01	30	-28.97
Other Investing Activities	-	-	-	0	2.99	-
Investing Cash Flow	-184.42	-171.37	-490.68	-960.6	-736.94	-1,242
Short-Term Debt Issued	-	-	532.52	705.45	423.02	233.3
Long-Term Debt Issued	-	3,927	1,341	1,785	3,736	1,650
Total Debt Issued	4,037	3,927	1,873	2,490	4,159	1,883
Long-Term Debt Repaid	-	-2,877	-784.57	-1,308	-1,917	-874.9
Total Debt Repaid	-2,951	-2,877	-784.57	-1,308	-1,917	-874.9
Net Debt Issued (Repaid)	1,086	1,050	1,089	1,182	2,242	1,008
Issuance of Common Stock	-	-	-	-	-	1,292
Common Dividends Paid	-217.46	-217.92	-121.09	-128.23	-171.8	-158.58
Other Financing Activities	540.38	286.11	50	-37.38	122.22	-186.66
Financing Cash Flow	1,409	1,119	1,018	1,016	2,192	1,955
Foreign Exchange Rate Adjustments	-5.53	3.71	18.9	10.24	17.46	-10.22
Net Cash Flow	474.3	82.13	284.51	-728.97	832.88	6.37
Free Cash Flow	-952.54	-1,061	-752.15	-1,756	-1,449	-1,914
Free Cash Flow Margin	-19.83%	-21.62%	-18.79%	-46.35%	-43.02%	-69.91%
Free Cash Flow Per Share	-3.90	-4.59	-3.21	-7.56	-6.75	-10.32
Cash Income Tax Paid	87.93	97.22	87.21	-75.89	100.3	66.61
Levered Free Cash Flow	-75.37	-530.95	-139.4	-1,160	-1,016	-1,354
Unlevered Free Cash Flow	-75.37	-530.95	-48.91	-1,099	-965.11	-1,311
Change in Working Capital	-1,673	-1,673	-899.1	-1,319	-1,048	-1,137

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.