SHA:688326 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	-550.32	-217.26	235.72	146.19
Depreciation & Amortization	170.57	157.43	90.85	65.52
Other Amortization	76.3	29	26.46	38.7
Loss (Gain) From Sale of Assets	-0.08	-0.91	-0.71	0.18
Asset Writedown & Restructuring Costs	1.42	1.33	0.25	1.21
Loss (Gain) From Sale of Investments	27.88	-31.56	-95.33	-7.92
Provision & Write-off of Bad Debts	99.53	59.65	21.15	6.88
Other Operating Activities	89.38	98.64	59.95	56.87
Change in Accounts Receivable	-841.81	-695.64	-292.97	-1,271
Change in Inventory	47.21	-154.31	-229.47	-486.05
Change in Accounts Payable	314.92	202.57	227.89	1,738
Change in Other Net Operating Assets	81.54	60.11	54.02	37.39
Operating Cash Flow	-537.53	-559.29	52.54	310.73
Operating Cash Flow Growth	-	-	-83.09%	568.58%
Capital Expenditures	-713.61	-421.15	-403.75	-171.75
Sale of Property, Plant & Equipment	0.52	0.28	1.22	0.76
Investment in Securities	-505.84	490.4	-627.81	109.38
Other Investing Activities	-8.59	23.13	20.76	-1.56
Investing Cash Flow	-1,228	92.66	-1,010	-63.17
Short-Term Debt Issued	653.66	457.67	-	6
Long-Term Debt Issued	2.56	1.04	-	-
Total Debt Issued	656.22	458.71	-	6
Short-Term Debt Repaid	-377.86	-106	-	-123
Long-Term Debt Repaid	-45.29	-51.96	-34.2	-22.96
Total Debt Repaid	-423.15	-157.96	-34.2	-145.96
Net Debt Issued (Repaid)	233.06	300.75	-34.2	-139.96
Issuance of Common Stock	-	45.09	3,520	-
Common Dividends Paid	-16.65	-2.07	-0.07	-2.8
Other Financing Activities	-273.32	-143.22	-34.85	67.82
Financing Cash Flow	-56.91	200.54	3,451	-74.94
Foreign Exchange Rate Adjustments	-5.29	14.23	35.45	-11.34
Net Cash Flow	-1,827	-251.86	2,529	161.27
Free Cash Flow	-1,251	-980.44	-351.21	138.98
Free Cash Flow Margin	-22.58%	-20.96%	-8.73%	4.26%
Free Cash Flow Per Share	-10.87	-8.21	-3.19	1.54
Cash Income Tax Paid	113.53	73.69	33.87	60.18
Levered Free Cash Flow	-912.2	-505.98	-225.34	218.18
Unlevered Free Cash Flow	-900.03	-500.19	-223.01	221.4
Change in Working Capital	-452.23	-655.61	-285.8	3.1

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