SHA:688401 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	251.93	190.86	148.8	119.78	52.31
Depreciation & Amortization	117.07	101.02	84.16	81.61	79.42
Other Amortization	6.78	6.65	4.46	4.43	3.53
Loss (Gain) From Sale of Assets	0	-0.54	0.61	-0.19	-0.09
Asset Writedown & Restructuring Costs	0.32	0.01	1.1	0	0.12
Loss (Gain) From Sale of Investments	6.63	-1.87	-5.65	-2.16	-
Provision & Write-off of Bad Debts	-	4.02	1.79	1.76	1.13
Other Operating Activities	30.41	18.94	18.05	22.48	10.54
Change in Accounts Receivable	-36.68	-68.01	-48.7	53.05	3.62
Change in Inventory	-74.01	-9.9	-60.32	-12.01	-31.98
Change in Accounts Payable	49.78	23.22	22.29	29.53	16.78
Change in Other Net Operating Assets	6.82	3.19	-	-	0.58
Operating Cash Flow	353.78	266.95	166.69	298.56	134.46
Operating Cash Flow Growth	32.52%	60.15%	-44.17%	122.05%	19.34%
Capital Expenditures	-264.38	-254.27	-338.32	-114.93	-135.44
Sale of Property, Plant & Equipment	0	3.54	0.11	0.4	0.31
Investment in Securities	-315.93	34.56	-13	-250	-
Other Investing Activities	-19.1	0.99	-118.11	0.55	-
Investing Cash Flow	-599.41	-215.17	-469.32	-363.98	-135.13
Long-Term Debt Issued	376.46	297	452.65	85.79	65.82
Long-Term Debt Repaid	-483	-161.73	-328.64	-289.22	-88.26
Net Debt Issued (Repaid)	-106.54	135.27	124.01	-203.43	-22.44
Issuance of Common Stock	-	-	-	783.95	-
Repurchase of Common Stock	-	-49.58	-1.08	-	-
Common Dividends Paid	-69.96	-63.47	-44.03	-24.27	-25.58
Dividends Paid	-69.96	-63.47	-44.03	-24.27	-25.58
Other Financing Activities	613.61	-211.49	-5.68	-21.73	41.18
Financing Cash Flow	437.12	-189.27	73.22	534.52	-6.84
Foreign Exchange Rate Adjustments	-6.18	-5.32	-2.28	-0.84	-1.22
Net Cash Flow	185.3	-142.81	-231.68	468.26	-8.73
Free Cash Flow	89.4	12.68	-171.63	183.63	-0.99
Free Cash Flow Growth	605.02%	-	-	-	-
Free Cash Flow Margin	7.74%	1.45%	-25.52%	28.69%	-0.20%
Free Cash Flow Per Share	0.46	0.07	-0.89	1.13	-0.01
Cash Income Tax Paid	68.67	19.66	48.3	-66.55	44.31
Levered Free Cash Flow	32.99	-186.61	-117.39	55.18	-133.4
Unlevered Free Cash Flow	32.99	-176.94	-108.84	69.49	-117.62
Change in Working Capital	-59.36	-52.13	-86.63	70.83	-12.5

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