SHA:688238 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	-234.81	-321.81	-127.94	39.26	54.26
Depreciation & Amortization	97.1	84.83	34.34	25.12	19.98
Other Amortization	2.72	7.23	9.43	10.58	8.6
Loss (Gain) From Sale of Assets	1.07	-5.9	-0.1	0.01	-0.01
Asset Writedown & Restructuring Costs	22.82	45.38	9.2	0.18	0.68
Loss (Gain) From Sale of Investments	-6.09	0.7	1.16	-2.29	-3.56
Provision & Write-off of Bad Debts	-	0.26	0.89	2.77	0.24
Other Operating Activities	11.14	15.68	11.26	2.92	3.1
Change in Accounts Receivable	-33.99	42.55	-46.87	-66.84	-36.94
Change in Inventory	1.34	-2	-19.07	-21.61	-21.83
Change in Accounts Payable	33.17	54.75	66.19	14.9	79.98
Change in Other Net Operating Assets	1.34	4.02	-0.42	17.04	13.96
Operating Cash Flow	-102.59	-61.07	-90.12	21.42	109.31
Operating Cash Flow Growth	-	-	-	-80.40%	75.40%
Capital Expenditures	-126.24	-167.46	-547.12	-484.42	-262.11
Sale of Property, Plant & Equipment	1.32	0	1.89	-	0.03
Cash Acquisitions	-0.12	-	-	-	-
Divestitures	-	-	-	-0.1	-
Investment in Securities	-0.31	-30	-57.46	11.99	181
Other Investing Activities	14.82	-11.58	1.13	2.92	4.95
Investing Cash Flow	-110.53	-209.03	-601.55	-469.61	-76.14
Long-Term Debt Issued	280	90	111	49.34	101.3
Total Debt Issued	280	90	111	49.34	101.3
Long-Term Debt Repaid	-101.04	-35.12	-15.59	-114.73	-11.22
Total Debt Repaid	-101.04	-35.12	-15.59	-114.73	-11.22
Net Debt Issued (Repaid)	178.96	54.88	95.41	-65.39	90.08
Issuance of Common Stock	-	3.7	43.73	1,200	-
Common Dividends Paid	-8.35	-6.37	-5.02	-5.1	-
Other Financing Activities	-101.8	-	-	-36.65	-2.22
Financing Cash Flow	68.8	52.21	134.12	1,093	87.85
Foreign Exchange Rate Adjustments	-0.02	-0.2	-0.03	-0.06	0.01
Net Cash Flow	-144.34	-218.09	-557.59	644.63	121.03
Free Cash Flow	-228.84	-228.53	-637.24	-462.99	-152.8
Free Cash Flow Margin	-85.48%	-92.09%	-311.15%	-158.94%	-59.94%
Free Cash Flow Per Share	-0.36	-0.35	-0.99	-0.77	-0.30
Cash Income Tax Paid	11.68	-79.77	5.34	-12.72	4.49
Levered Free Cash Flow	-262.27	-255.12	-549.1	-466.8	-208.49
Unlevered Free Cash Flow	-262.27	-250.46	-544.83	-465.07	-206.63
Change in Working Capital	3.46	112.58	-28.36	-57.12	26.02

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