SHA:688256 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	2,059	-452.34	-848.44	-1,256	-824.95
Depreciation & Amortization	253.6	202.7	315.86	355.33	253.5
Other Amortization	31.59	6.65	14.37	11.42	9.04
Loss (Gain) From Sale of Assets	-0.01	-1.28	0.41	0.43	-
Asset Writedown & Restructuring Costs	-	-	-	313.65	33.41
Loss (Gain) From Sale of Investments	-13.85	-22.6	-74.52	-91.39	-90.1
Provision & Write-off of Bad Debts	56.73	-118.94	145.64	-	-
Other Operating Activities	133.64	31.2	100.15	-64.36	-1.46
Change in Accounts Receivable	-325.76	-281.97	-266.84	-326.41	-316.69
Change in Inventory	-3,303	-1,699	154.54	-182.22	-218.17
Change in Accounts Payable	371.51	538.59	-78.03	-200.7	72.4
Change in Other Net Operating Assets	238.73	179.22	-58.73	111.08	209.89
Operating Cash Flow	-498.4	-1,618	-595.54	-1,330	-873.14
Capital Expenditures	-568.7	-366.05	-100.38	-284.14	-505
Sale of Property, Plant & Equipment	0.12	0.27	0.18	-	-
Divestitures	-	1.5	-	-	-
Investment in Securities	-4,003	-71.69	445.02	991.24	493.56
Other Investing Activities	41.44	24.31	79.84	70.04	90.71
Investing Cash Flow	-4,530	-411.65	424.66	777.14	79.27
Short-Term Debt Issued	295.49	102.92	-	-	-
Total Debt Issued	295.49	102.92	-	-	-
Short-Term Debt Repaid	-395.49	-	-	-	-
Long-Term Debt Repaid	-24.12	-33.6	-69.82	-74.94	-71.4
Total Debt Repaid	-419.61	-33.6	-69.82	-74.94	-71.4
Net Debt Issued (Repaid)	-124.12	69.32	-69.82	-74.94	-71.4
Issuance of Common Stock	4,137	56.05	1,779	46.45	-
Repurchase of Common Stock	-20.06	-7.21	-75.45	-47.61	-
Common Dividends Paid	-4.12	-0.08	-	-	-
Other Financing Activities	-2.8	-70.18	23.17	174.7	170.4
Financing Cash Flow	3,986	47.89	1,657	98.6	99
Foreign Exchange Rate Adjustments	-0.04	-0.02	0.38	0.59	-0.22
Net Cash Flow	-1,043	-1,982	1,486	-453.54	-695.09
Free Cash Flow	-1,067	-1,984	-695.92	-1,614	-1,378
Free Cash Flow Margin	-16.42%	-168.93%	-98.10%	-221.39%	-191.13%
Free Cash Flow Per Share	-2.53	-4.78	-1.70	-4.03	-3.44
Cash Income Tax Paid	204.38	7.04	76.59	-19.61	-21.7
Levered Free Cash Flow	-1,761	-2,209	-419.43	-1,040	311.79
Unlevered Free Cash Flow	-1,760	-2,209	-417.29	-1,038	313.91
Change in Working Capital	-3,019	-1,263	-249.01	-598.57	-252.58

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