SHA:688295 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-124.38	317.98	605.08	278.72
Depreciation & Amortization	310.47	245.93	164.25	87.08
Other Amortization	20.18	23.34	9.41	2.84
Loss (Gain) From Sale of Assets	0.35	-	-	-0.05
Asset Writedown & Restructuring Costs	0.32	4.28	6.91	1.56
Loss (Gain) From Sale of Investments	-12.28	-9.92	-27.97	-0.46
Provision & Write-off of Bad Debts	11.36	4.46	0.02	0
Other Operating Activities	135.41	43.65	40.48	27.39
Change in Accounts Receivable	85.43	-703.77	-92.67	-145.81
Change in Inventory	-175.86	-173.27	-144.18	-122.59
Change in Accounts Payable	360.6	548.96	297.76	172.13
Operating Cash Flow	540.04	243.62	835.14	300.81
Operating Cash Flow Growth	121.67%	-70.83%	177.63%	28.92%
Capital Expenditures	-693.61	-1,191	-1,236	-1,164
Sale of Property, Plant & Equipment	-	-	-	0.05
Investment in Securities	-691.22	1,190	-1,490	-
Other Investing Activities	12.87	14.51	24.9	-6.5
Investing Cash Flow	-1,372	13.93	-2,701	-1,170
Short-Term Debt Issued	-	3.65	-	-
Long-Term Debt Issued	712.26	1,445	1,061	1,233
Total Debt Issued	712.26	1,449	1,061	1,233
Long-Term Debt Repaid	-796.02	-429.66	-1,423	-176.07
Net Debt Issued (Repaid)	-83.76	1,019	-362.08	1,057
Issuance of Common Stock	-	-	2,787	-
Common Dividends Paid	-162.57	-143.48	-64.85	-38.61
Other Financing Activities	-	-0.09	-21.85	-7.37
Financing Cash Flow	-246.34	875.59	2,338	1,011
Foreign Exchange Rate Adjustments	1	1.85	2.87	0.06
Net Cash Flow	-1,077	1,135	474.84	141.55
Free Cash Flow	-153.58	-946.96	-401.2	-863.18
Free Cash Flow Margin	-9.86%	-41.92%	-20.11%	-73.56%
Free Cash Flow Per Share	-0.17	-1.04	-0.46	-1.08
Cash Income Tax Paid	40.1	72.46	-75.2	59.59
Levered Free Cash Flow	-532.74	-1,092	-474.21	-832.64
Unlevered Free Cash Flow	-495.18	-1,069	-448.91	-818.63
Change in Working Capital	198.61	-386.1	36.95	-96.27

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