SHA:688232 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	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	35.01	204.27	194.76	572.9	504.1
Depreciation & Amortization	44.14	42.05	51.11	46.24	35.9
Other Amortization	3.65	6	2.49	1.61	0.4
Loss (Gain) From Sale of Assets	-0.72	-1	-0.49	-0.31	-0.09
Asset Writedown & Restructuring Costs	-21.31	-1.95	0.98	6.18	-5.3
Loss (Gain) From Sale of Investments	-6.66	-87.92	-106.83	-116.88	-1.93
Provision & Write-off of Bad Debts	-	69.97	73.52	61.28	35.7
Other Operating Activities	29.81	22.61	18.97	14.83	2.85
Change in Accounts Receivable	201.45	31.64	-28.11	-483.34	-323.28
Change in Inventory	-49.01	-9.04	0.64	4.34	-42.62
Change in Accounts Payable	31.09	7.21	-155.94	-15.84	-8.92
Change in Other Net Operating Assets	-	-21.59	-	-	-
Operating Cash Flow	266.2	263.69	50.73	93.36	194.01
Operating Cash Flow Growth	0.95%	419.77%	-45.66%	-51.88%	-50.72%
Capital Expenditures	-252.61	-391	-233.66	-102.54	-77.86
Sale of Property, Plant & Equipment	1.72	2.65	0.73	1.76	0.29
Investment in Securities	78.75	849.67	-161.64	-211.27	-3,362
Other Investing Activities	9.18	0.27	102.13	99.83	1.93
Investing Cash Flow	-162.95	461.59	-292.45	-212.22	-3,437
Short-Term Debt Issued	-	-	-	-	150
Total Debt Issued	-	-	-	-	150
Short-Term Debt Repaid	-	-	-	-	-150
Long-Term Debt Repaid	-	-10.16	-11.4	-10.27	-3.93
Total Debt Repaid	-	-10.16	-11.4	-10.27	-153.93
Net Debt Issued (Repaid)	-	-10.16	-11.4	-10.27	-3.93
Issuance of Common Stock	-	-	-	-	3,857
Repurchase of Common Stock	-	-156.72	-	-	-
Common Dividends Paid	-115.91	-117.64	-198	-167.83	-0.64
Other Financing Activities	-61.92	6	4.9	-	-32.07
Financing Cash Flow	-177.83	-278.51	-204.5	-178.1	3,820
Foreign Exchange Rate Adjustments	-0	-	-	-	-
Net Cash Flow	-74.59	446.77	-446.21	-296.97	576.98
Free Cash Flow	13.59	-127.31	-182.93	-9.18	116.15
Free Cash Flow Growth	-	-	-	-	-61.61%
Free Cash Flow Margin	0.74%	-5.93%	-7.49%	-0.33%	4.16%
Free Cash Flow Per Share	0.04	-0.39	-0.55	-0.03	0.46
Cash Income Tax Paid	158.47	105.2	141.45	162.64	197.28
Levered Free Cash Flow	71.4	-214.73	-199.13	-148.09	-43.64
Unlevered Free Cash Flow	71.4	-214.44	-198.71	-147.8	-43.39
Change in Working Capital	182.29	9.65	-183.79	-492.5	-377.61

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