SHA:688212 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	10.59	21.01	57.85	21.66	57.04
Depreciation & Amortization	73.2	56.16	48.67	35.24	26.21
Other Amortization	10.47	16.33	6.76	5.88	6.1
Loss (Gain) From Sale of Assets	-0.33	-0.26	0.75	-0.14	-0.39
Asset Writedown & Restructuring Costs	14.84	15.97	11.72	0.01	0.05
Loss (Gain) From Sale of Investments	-0.22	-10.34	-11.54	-13.86	-0.94
Provision & Write-off of Bad Debts	-	13.33	7.76	4.43	3.17
Other Operating Activities	30.71	10.06	9.6	10.64	6.58
Change in Accounts Receivable	-116.03	-152.23	-78.56	-77.43	-42.51
Change in Inventory	-14.34	-81.55	-70.08	-109.77	-3.64
Change in Accounts Payable	4.87	51.38	28.96	72.98	16.13
Change in Other Net Operating Assets	-21.09	-4.31	34.22	19.69	4.52
Operating Cash Flow	-20.36	-78.93	37.41	-41.9	66.15
Operating Cash Flow Growth	-	-	-	-	-7.51%
Capital Expenditures	-130.39	-186.63	-157.83	-78.77	-91.61
Sale of Property, Plant & Equipment	0.26	1.58	4.82	2.89	1.52
Divestitures	-	-	4.47	-	-
Investment in Securities	65	203	117.65	-389.65	-45.41
Other Investing Activities	13.29	13.6	2.95	5.18	-
Investing Cash Flow	-51.84	31.55	-27.94	-460.35	-135.5
Short-Term Debt Issued	-	106.16	-	-	-
Long-Term Debt Issued	405.18	-	-	-	-
Total Debt Issued	405.18	106.16	-	-	-
Short-Term Debt Repaid	-	-9.98	-	-	-
Long-Term Debt Repaid	-179.45	-13.6	-9.49	-8.83	-6.16
Total Debt Repaid	-179.45	-23.58	-9.49	-8.83	-6.16
Net Debt Issued (Repaid)	225.73	82.58	-9.49	-8.83	-6.16
Issuance of Common Stock	61.72	12.37	15.46	-	691.4
Common Dividends Paid	-16.58	-41.6	-	-25.33	-
Other Financing Activities	-113.79	-	-1.63	-0.33	-26.44
Financing Cash Flow	157.08	53.35	4.34	-34.49	658.79
Foreign Exchange Rate Adjustments	3.51	-0.32	0.57	0.09	0.58
Net Cash Flow	88.38	5.65	14.38	-536.65	590.03
Free Cash Flow	-150.75	-265.55	-120.42	-120.67	-25.45
Free Cash Flow Margin	-19.48%	-35.43%	-17.76%	-27.10%	-7.33%
Free Cash Flow Per Share	-1.19	-2.02	-0.90	-0.89	-0.24
Cash Income Tax Paid	5.84	28.03	52.84	11.25	23.24
Levered Free Cash Flow	-51.72	-249.38	-118.12	-121.85	-47
Unlevered Free Cash Flow	-51.72	-248.17	-117.69	-121.46	-46.81
Change in Working Capital	-159.62	-201.19	-94.16	-105.77	-31.66

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