SHA:688332 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	1,415	300.1	251.69	140.9	229.36
Depreciation & Amortization	18.98	6.02	15.43	15.19	5.88
Other Amortization	0.31	9.9	0.7	0.57	0.22
Loss (Gain) From Sale of Assets	-0.13	-0.24	-0.02	-	-
Asset Writedown & Restructuring Costs	-966.14	0	0.01	0.01	5.07
Loss (Gain) From Sale of Investments	-308.72	-55.95	-56.3	-20.72	-10.09
Provision & Write-off of Bad Debts	-	0.63	0.09	2.57	0.12
Other Operating Activities	-34.79	13.74	-2.88	-7.87	0.76
Change in Accounts Receivable	-37.76	-14.16	-23.45	-47.64	-4.53
Change in Inventory	-112.54	158.12	-335.26	56.03	-340.05
Change in Accounts Payable	-31.31	6.86	24.56	75.82	-10.37
Change in Other Net Operating Assets	-4.85	14.56	19.91	8.94	13.42
Operating Cash Flow	64.05	428.1	-105.62	223.79	-110.2
Operating Cash Flow Growth	-85.04%	-	-	-	-
Capital Expenditures	-25.18	-16.25	-11.48	-13.07	-6.31
Sale of Property, Plant & Equipment	0.2	0.32	-	-	-
Investment in Securities	-509.41	314.87	1,718	-1,764	-66.36
Other Investing Activities	780.03	-1,426	-1,115	-851.31	9.81
Investing Cash Flow	245.65	-1,128	591.27	-2,628	-62.86
Short-Term Debt Issued	-	473.69	997.17	-	-
Long-Term Debt Issued	491.3	-	-	-	40
Total Debt Issued	491.3	473.69	997.17	-	40
Short-Term Debt Repaid	-	-971.97	-147.52	-	-
Long-Term Debt Repaid	-707.64	-3.23	-5.89	-5.49	-49.9
Total Debt Repaid	-707.64	-975.2	-153.41	-5.49	-49.9
Net Debt Issued (Repaid)	-216.34	-501.52	843.75	-5.49	-9.9
Issuance of Common Stock	8.72	8.73	9.77	2,621	-
Common Dividends Paid	-127.29	-118.9	-62.66	-66	-40.89
Other Financing Activities	-5	2.54	-	-39.31	-5.89
Financing Cash Flow	-339.91	-609.14	790.86	2,510	-56.68
Net Cash Flow	-30.21	-1,309	1,277	105.95	-229.75
Free Cash Flow	38.88	411.85	-117.1	210.72	-116.51
Free Cash Flow Growth	-90.56%	-	-	-	-
Free Cash Flow Margin	2.11%	22.64%	-8.09%	19.51%	-10.37%
Free Cash Flow Per Share	0.32	3.42	-0.97	2.05	-1.29
Cash Income Tax Paid	35.83	35.27	14.1	4.53	19.02
Levered Free Cash Flow	10.09	320.22	-220.2	164.35	-203.46
Unlevered Free Cash Flow	10.09	332.15	-214.23	164.62	-202.99
Change in Working Capital	-60.8	153.91	-314.34	93.14	-341.53

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