SHA:688425 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	1,483	1,508	1,593	1,844	1,735	1,567
Depreciation & Amortization	883.63	883.63	802.55	695.07	586.13	357.85
Other Amortization	5.19	5.19	-	-	-	-
Loss (Gain) From Sale of Assets	-1.11	-1.11	-	-	0.09	-
Asset Writedown & Restructuring Costs	28.66	28.66	0.32	0.09	-	1.04
Loss (Gain) From Sale of Investments	-189.31	-189.31	-237.33	-213.28	-187.75	-280.07
Provision & Write-off of Bad Debts	22.66	22.66	74.2	35.32	20.43	20.78
Other Operating Activities	-152.58	64.4	71.2	63.62	89.83	52.79
Change in Accounts Receivable	284.75	284.75	-879.3	-184.12	-1,450	-1,246
Change in Inventory	-765.44	-765.44	-58.92	-1,060	-1,222	-1,435
Change in Accounts Payable	209.54	209.54	-669.32	-121.3	-1,053	703.02
Operating Cash Flow	1,802	2,045	703.53	1,071	-1,484	-334.84
Operating Cash Flow Growth	57.45%	190.62%	-34.29%	-	-	-
Capital Expenditures	208.32	-273.25	-1,630	-892.97	-476.26	-324.48
Sale of Property, Plant & Equipment	0.59	0.56	0.04	0	-	-
Investment in Securities	-	-6.8	-1.32	-	-	-19.7
Other Investing Activities	1.26	-	-	-	62.75	0.92
Investing Cash Flow	210.17	-279.49	-1,631	-892.97	-413.51	-343.26
Long-Term Debt Issued	-	2,620	3,560	2,953	3,181	2,276
Long-Term Debt Repaid	-	-2,577	-3,115	-3,011	-4,079	-1,069
Net Debt Issued (Repaid)	-960.38	43.25	445.47	-57.5	-897.88	1,207
Issuance of Common Stock	-	-	-	-	4,174	-
Common Dividends Paid	-493.61	-539.35	-628.91	-588.22	-86.06	-1,457
Other Financing Activities	-0.2	-	-	2.66	-	-
Financing Cash Flow	-1,454	-496.1	-183.44	-643.06	3,190	-250.1
Foreign Exchange Rate Adjustments	8.65	-4.43	3.38	13.58	1.77	-2.33
Net Cash Flow	566.81	1,265	-1,108	-451.73	1,294	-930.53
Free Cash Flow	2,011	1,771	-926.48	177.75	-1,960	-659.32
Free Cash Flow Growth	1529.41%	-	-	-	-	-
Free Cash Flow Margin	20.35%	17.63%	-9.24%	1.76%	-20.60%	-8.66%
Free Cash Flow Per Share	0.38	0.33	-0.17	0.03	-0.43	-0.17
Cash Income Tax Paid	419.9	381.88	489.69	707.52	488.52	390.25
Levered Free Cash Flow	1,767	1,329	-665.91	-494.9	-1,107	-1,011
Unlevered Free Cash Flow	1,792	1,366	-619.4	-455.19	-1,051	-978.7
Change in Working Capital	-277.46	-277.46	-1,601	-1,354	-3,728	-2,054

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