SHA:688379 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	188.08	80.62	41.6	8.72	45.21
Depreciation & Amortization	43.43	39.15	26.76	20.95	18.67
Other Amortization	-	-	-	0.01	0.01
Loss (Gain) From Sale of Assets	-88.84	-	-0.01	-0.04	-0.14
Asset Writedown & Restructuring Costs	6.92	0.09	0.08	9.74	3.88
Loss (Gain) From Sale of Investments	0.22	0.08	-0.21	2.29	-2.6
Provision & Write-off of Bad Debts	-	5.87	0.3	0.3	9.19
Other Operating Activities	52.6	41.1	36.28	22.22	18.55
Change in Accounts Receivable	-713.83	-524.05	-389.9	-454.77	-517.73
Change in Inventory	-138.92	-216.65	-122.69	-58.28	-110.41
Change in Accounts Payable	542.86	308.87	196.52	106.23	47.51
Change in Other Net Operating Assets	21.97	6.83	7.88	13.24	2.97
Operating Cash Flow	-84.96	-255.17	-204.11	-337.2	-485.84
Capital Expenditures	-137.82	-60.09	-42.31	-101.91	-68.17
Sale of Property, Plant & Equipment	44.76	0.66	65.84	0.08	0.31
Investment in Securities	-	-7	35.2	24	47.97
Other Investing Activities	-0.05	-0.45	-0.38	-1.05	2.04
Investing Cash Flow	-93.11	-66.89	58.35	-78.87	-17.85
Long-Term Debt Issued	1,352	1,095	1,053	1,265	1,045
Total Debt Issued	1,352	1,095	1,053	1,265	1,045
Long-Term Debt Repaid	-1,151	-735.48	-802.29	-762.14	-515.7
Total Debt Repaid	-1,151	-735.48	-802.29	-762.14	-515.7
Net Debt Issued (Repaid)	201.54	359.31	250.53	502.49	529.51
Issuance of Common Stock	4.02	31.75	17.08	8.85	-
Repurchase of Common Stock	-	-18.5	-15.1	-34.95	-
Common Dividends Paid	-66.98	-40.14	-23.41	-30.77	-31.3
Other Financing Activities	34.93	-14.46	-12.13	-11.43	-4.65
Financing Cash Flow	173.5	317.97	216.97	434.2	493.55
Foreign Exchange Rate Adjustments	0.96	-0.39	0.45	0.53	-0.71
Net Cash Flow	-3.6	-4.48	71.66	18.66	-10.84
Free Cash Flow	-222.78	-315.26	-246.42	-439.1	-554.01
Free Cash Flow Margin	-8.72%	-16.44%	-17.41%	-35.98%	-45.75%
Free Cash Flow Per Share	-2.56	-3.68	-2.84	-5.04	-6.25
Cash Interest Paid	-	6.93	3.91	1.55	0.64
Cash Income Tax Paid	9.58	-2.83	-22.61	-19.51	20.62
Levered Free Cash Flow	-136.87	-198.78	-40.51	-77.05	-222.2
Unlevered Free Cash Flow	-136.87	-175.54	-21.91	-61.56	-209.42
Change in Working Capital	-287.36	-422.07	-308.9	-401.39	-578.62

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