SHA:688323 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-71.32	-57.27	-19.6	38.87	56.05	58.54
Depreciation & Amortization	97.91	97.91	61.57	53.31	55.02	37.21
Other Amortization	3.7	3.7	4.17	2.51	2.24	2.18
Loss (Gain) From Sale of Assets	0.08	0.08	0.02	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	0.1	0	0.15
Loss (Gain) From Sale of Investments	1.51	1.51	0.86	0.29	1.15	-
Provision & Write-off of Bad Debts	1.31	1.31	0.49	-0.75	0.69	-0.42
Other Operating Activities	119.55	39.24	19.12	14.52	11.43	9.39
Change in Accounts Receivable	2.62	2.62	-24.7	14.57	-1.87	-29
Change in Inventory	4.29	4.29	-9	-17.86	-33.74	82.39
Change in Accounts Payable	51.92	51.92	29.36	-17.12	-12.48	-70.52
Operating Cash Flow	203.78	137.52	61.07	89.82	78.38	90.27
Operating Cash Flow Growth	361.39%	125.20%	-32.01%	14.59%	-13.17%	9.50%
Capital Expenditures	-94.71	-111.05	-221.2	-497.79	-419.92	-216.7
Sale of Property, Plant & Equipment	0	0.02	0	0	0	0.04
Cash Acquisitions	11.53	-	-2.97	-9.5	-6	-3
Investment in Securities	-16.03	-18.13	-22.8	-	-	-
Investing Cash Flow	-99.21	-129.16	-246.97	-507.28	-425.92	-219.67
Short-Term Debt Issued	-	0.18	0.23	13.92	12.91	4.05
Long-Term Debt Issued	-	228.5	181	663.5	547	370
Total Debt Issued	223.98	228.68	181.23	677.42	559.91	374.05
Short-Term Debt Repaid	-	-	-	-	-	-9.39
Long-Term Debt Repaid	-	-129.74	-143.87	-126.96	-251.08	-237.44
Total Debt Repaid	-232.11	-129.74	-143.87	-126.96	-251.08	-246.83
Net Debt Issued (Repaid)	-8.13	98.94	37.36	550.46	308.83	127.22
Issuance of Common Stock	-	-	-	-	234.45	-
Common Dividends Paid	-35.43	-35.02	-47.51	-46.84	-22.05	-11.57
Other Financing Activities	2.15	0.46	1.58	-4.41	-38.89	-2.58
Financing Cash Flow	-41.41	64.38	-8.57	499.21	482.34	113.07
Foreign Exchange Rate Adjustments	-0.21	0.18	0.58	0.05	0.37	-0.13
Net Cash Flow	62.96	72.92	-193.88	81.79	135.18	-16.46
Free Cash Flow	109.07	26.47	-160.13	-407.97	-341.53	-126.44
Free Cash Flow Margin	28.51%	7.81%	-58.04%	-135.22%	-107.13%	-36.11%
Free Cash Flow Per Share	0.61	0.15	-0.90	-2.31	-2.07	-0.93
Cash Income Tax Paid	14.31	-2.86	-4.85	-20.82	-2.17	12.85
Levered Free Cash Flow	-116.95	117.4	-111.04	-434.82	-348.68	-83.43
Unlevered Free Cash Flow	-84.83	141.29	-99.29	-425.71	-341.24	-77.61
Change in Working Capital	51.04	51.04	-5.56	-19.04	-48.21	-16.79

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.