SHA:688362 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	66.33	-93.39	138.4	322.07
Depreciation & Amortization	742.4	520.73	444.99	272.16
Other Amortization	60.8	17.81	0.21	0.18
Loss (Gain) From Sale of Assets	0.42	-0	-0.04	-1.11
Asset Writedown & Restructuring Costs	0.01	0	0	1.71
Loss (Gain) From Sale of Investments	-	-17.51	13.54	-
Provision & Write-off of Bad Debts	14.51	9.43	-3.35	12.35
Other Operating Activities	226.05	136.57	133.12	96.7
Change in Accounts Receivable	-249.34	-252.95	-60.23	-254.54
Change in Inventory	-29.65	-44.82	-30.22	-186.76
Change in Accounts Payable	783.04	797.54	256.18	505.56
Change in Other Net Operating Assets	40.37	30.65	7.13	16.66
Operating Cash Flow	1,636	1,071	899.62	818.63
Operating Cash Flow Growth	52.66%	19.10%	9.89%	114.77%
Capital Expenditures	-2,364	-3,203	-1,801	-2,207
Sale of Property, Plant & Equipment	0.78	-	-	5.76
Investment in Securities	-20	34.22	-30	-
Other Investing Activities	5	-7.76	-1	1
Investing Cash Flow	-2,378	-3,176	-1,832	-2,200
Long-Term Debt Issued	4,818	4,155	1,878	2,080
Long-Term Debt Repaid	-4,015	-2,227	-1,740	-543.94
Net Debt Issued (Repaid)	803.2	1,928	137.45	1,536
Issuance of Common Stock	9.45	-	1,040	-
Repurchase of Common Stock	-50	-	-	-
Common Dividends Paid	-182.48	-178.05	-110.51	-80.03
Other Financing Activities	69.88	825.09	432.57	-3.62
Financing Cash Flow	650.04	2,575	1,499	1,453
Foreign Exchange Rate Adjustments	-10.46	-5.16	0.6	0.31
Net Cash Flow	-102.99	464.77	566.95	71.18
Free Cash Flow	-728.35	-2,131	-901.79	-1,389
Free Cash Flow Margin	-20.18%	-89.14%	-41.42%	-67.58%
Free Cash Flow Per Share	-1.76	-5.25	-2.54	-4.01
Cash Income Tax Paid	-232.46	-227.99	84.5	-131.85
Levered Free Cash Flow	-1,678	-2,329	-1,308	-2,878
Unlevered Free Cash Flow	-1,531	-2,227	-1,233	-2,827
Change in Working Capital	525.21	497.86	172.75	114.56

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