SHA:688351 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	62.3	51.08	52.07	5.69	3.07	-11.97
Depreciation & Amortization	34.81	34.81	37.38	28.86	17.31	14.58
Other Amortization	3.84	3.84	2.9	2.48	1.28	1.04
Loss (Gain) From Sale of Assets	-0.71	-0.71	0.03	-	-0.02	0.12
Asset Writedown & Restructuring Costs	1.23	1.23	1.35	0.57	0.79	0.7
Loss (Gain) From Sale of Investments	-15.39	-15.39	-20.41	-22.32	-1.08	2.88
Provision & Write-off of Bad Debts	3.39	3.39	2.97	1.35	0.81	0.21
Other Operating Activities	-67.17	0.93	0.93	0.76	0.07	0.26
Change in Accounts Receivable	0.12	0.12	-17.62	-24.35	-18.95	-7.39
Change in Inventory	-48.58	-48.58	-21.02	-57.72	-47.85	-20.3
Change in Accounts Payable	55.79	55.79	24.3	23.91	23.49	18.81
Change in Other Net Operating Assets	4.24	4.24	4.41	2.87	11.79	21.76
Operating Cash Flow	34.01	90.9	67.33	-37.97	-9.38	20.69
Operating Cash Flow Growth	-64.52%	35.00%	-	-	-	137.61%
Capital Expenditures	-42.54	-122.23	-43.82	-41.93	-31.93	-36.71
Sale of Property, Plant & Equipment	0.06	0	0.02	-	-	-
Divestitures	5	-	-	-	-	-
Investment in Securities	-48.51	26.49	-24.9	-257.94	-877.18	-
Other Investing Activities	17.48	17.88	24.94	25.21	4.22	1.72
Investing Cash Flow	-68.52	-77.86	-43.76	-274.66	-904.88	-34.99
Long-Term Debt Repaid	-	-5.08	-10.65	-10.47	-5.62	-4.97
Total Debt Repaid	-5.08	-5.08	-10.65	-10.47	-5.62	-4.97
Net Debt Issued (Repaid)	-5.08	-5.08	-10.65	-10.47	-5.62	-4.97
Issuance of Common Stock	-	-	-	-	1,085	-
Other Financing Activities	-0.68	-	-	-	-13.47	-
Financing Cash Flow	-5.75	-5.08	-10.65	-10.47	1,065	-4.97
Foreign Exchange Rate Adjustments	-3.46	-0.16	-0.11	0.51	0.65	0.21
Net Cash Flow	-43.72	7.8	12.82	-322.59	151.81	-19.06
Free Cash Flow	-8.53	-31.33	23.52	-79.9	-41.31	-16.02
Free Cash Flow Margin	-1.75%	-6.74%	5.69%	-24.27%	-15.87%	-8.43%
Free Cash Flow Per Share	-0.02	-0.07	0.05	-0.17	-0.10	-0.04
Cash Income Tax Paid	10.69	10.69	18.53	13.43	2.57	10.44
Levered Free Cash Flow	-10.84	-41.27	-17.24	-58.24	-50.29	-22.61
Unlevered Free Cash Flow	-10.69	-41.09	-16.69	-57.44	-49.84	-22.32
Change in Working Capital	11.72	11.72	-9.88	-55.37	-31.62	12.89

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