SHA:688388 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	-238.83	19.03	520.5	549.96
Depreciation & Amortization	298.65	242.16	131.44	74.59
Other Amortization	18.77	17.88	14.5	7.57
Loss (Gain) From Sale of Assets	0.22	2.91	-	0.06
Asset Writedown & Restructuring Costs	27.88	3.87	-	-
Loss (Gain) From Sale of Investments	18.46	13.04	-6.49	-53.76
Provision & Write-off of Bad Debts	55.1	-1.2	10.68	8
Other Operating Activities	175.35	138.84	109.74	82.98
Change in Accounts Receivable	-672.7	-585.76	-829.49	-114.97
Change in Inventory	-425.11	-34.02	-613.44	-148.38
Change in Accounts Payable	-484.29	891.33	74.86	-101.37
Change in Other Net Operating Assets	16.8	-	61.76	10.77
Operating Cash Flow	-1,254	666.5	-537.6	318.67
Operating Cash Flow Growth	-	-	-	249.68%
Capital Expenditures	-735.72	-1,282	-2,577	-1,183
Sale of Property, Plant & Equipment	0	0.99	-	0.12
Cash Acquisitions	-	-1.49	-	-83.09
Divestitures	-	-0.03	-	-
Investment in Securities	192.6	-52.88	274.88	-766.99
Other Investing Activities	18.96	26.79	-49.82	9.39
Investing Cash Flow	-524.16	-1,309	-2,352	-2,023
Short-Term Debt Issued	1,460	369.68	-	-
Long-Term Debt Issued	1,635	1,524	2,711	2,081
Total Debt Issued	3,094	1,894	2,711	2,081
Short-Term Debt Repaid	-381.34	-6.5	-	-
Long-Term Debt Repaid	-465.98	-694.46	-2,280	-93.34
Total Debt Repaid	-847.32	-700.96	-2,280	-93.34
Net Debt Issued (Repaid)	2,247	1,193	430.82	1,987
Issuance of Common Stock	-	-	3,508	-
Repurchase of Common Stock	-51.99	-18	-	-
Common Dividends Paid	-89.2	-212.15	-202.06	-81.98
Dividends Paid	-89.2	-212.15	-202.06	-81.98
Other Financing Activities	-409.19	-729.75	-29.61	-5.09
Financing Cash Flow	1,697	233.23	3,707	1,900
Foreign Exchange Rate Adjustments	0	-0.02	-0	-0
Net Cash Flow	-81.29	-408.79	817.17	195.45
Free Cash Flow	-1,990	-615.39	-3,115	-864.21
Free Cash Flow Margin	-30.50%	-12.39%	-67.11%	-30.82%
Free Cash Flow Per Share	-4.67	-1.29	-9.04	-2.67
Cash Income Tax Paid	1.43	111.77	108.64	146.78
Levered Free Cash Flow	-2,935	-217.57	-2,581	-1,042
Unlevered Free Cash Flow	-2,836	-142.93	-2,511	-991.2
Change in Working Capital	-1,609	229.96	-1,318	-350.74

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