SHA:688362 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	87.05	66.33	-93.39	138.4	322.07	27.85
Depreciation & Amortization	742.4	742.4	520.73	444.99	272.16	86.85
Other Amortization	60.8	60.8	17.81	0.21	0.18	4.78
Loss (Gain) From Sale of Assets	0.42	0.42	-0	-0.04	-1.11	0.02
Asset Writedown & Restructuring Costs	0.01	0.01	0	0	1.71	0.82
Loss (Gain) From Sale of Investments	-	-	-17.51	13.54	-	-0.15
Provision & Write-off of Bad Debts	14.51	14.51	9.43	-3.35	12.35	2.87
Other Operating Activities	135.88	226.05	136.57	133.12	96.7	34.77
Change in Accounts Receivable	-249.34	-249.34	-252.95	-60.23	-254.54	-35.82
Change in Inventory	-29.65	-29.65	-44.82	-30.22	-186.76	-44.98
Change in Accounts Payable	783.04	783.04	797.54	256.18	505.56	292.09
Change in Other Net Operating Assets	40.37	40.37	30.65	7.13	16.66	10.97
Operating Cash Flow	1,566	1,636	1,071	899.62	818.63	381.17
Operating Cash Flow Growth	-15.79%	52.66%	19.10%	9.89%	114.77%	174.09%
Capital Expenditures	-1,944	-2,364	-3,203	-1,801	-2,207	-1,225
Sale of Property, Plant & Equipment	1.54	0.78	-	-	5.76	1.72
Investment in Securities	-10	-20	34.22	-30	-	0.15
Other Investing Activities	-207.55	5	-7.76	-1	1	-5
Investing Cash Flow	-2,160	-2,378	-3,176	-1,832	-2,200	-1,228
Long-Term Debt Issued	-	4,818	4,155	1,878	2,080	991
Long-Term Debt Repaid	-	-4,015	-2,227	-1,740	-543.94	-533.4
Net Debt Issued (Repaid)	1,379	803.2	1,928	137.45	1,536	457.6
Issuance of Common Stock	26	9.45	-	1,040	-	555.9
Repurchase of Common Stock	-50	-50	-	-	-	-
Common Dividends Paid	-180.03	-182.48	-178.05	-110.51	-80.03	-36.74
Other Financing Activities	32.3	69.88	825.09	432.57	-3.62	-15.95
Financing Cash Flow	1,208	650.04	2,575	1,499	1,453	960.81
Foreign Exchange Rate Adjustments	-0.91	-10.46	-5.16	0.6	0.31	-0.9
Net Cash Flow	613.15	-102.99	464.77	566.95	71.18	113.17
Free Cash Flow	-377.62	-728.35	-2,131	-901.79	-1,389	-843.61
Free Cash Flow Margin	-8.93%	-20.18%	-89.14%	-41.42%	-67.58%	-112.78%
Free Cash Flow Per Share	-0.96	-1.76	-5.25	-2.54	-4.01	-2.65
Cash Income Tax Paid	-	-232.46	-227.99	84.5	-131.85	-153.63
Levered Free Cash Flow	-1,525	-1,678	-2,329	-1,308	-2,878	-306.49
Unlevered Free Cash Flow	-1,371	-1,531	-2,227	-1,233	-2,827	-287.88
Change in Working Capital	525.21	525.21	497.86	172.75	114.56	223.36

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