SHA:688439 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	322.54	610.61	303.02	176.92
Depreciation & Amortization	50.2	36.48	24.41	15.61
Other Amortization	6	4.6	1.52	0.39
Loss (Gain) From Sale of Assets	-0.01	-0.03	-	1.98
Loss (Gain) From Sale of Investments	-32.77	-15.84	-	-
Provision & Write-off of Bad Debts	90.63	20.9	10.26	0.29
Other Operating Activities	39.19	16.77	48.14	28.76
Change in Accounts Receivable	-598.48	-640.4	-365.68	-173.65
Change in Inventory	-18.38	-48.55	-266.54	-193.87
Change in Accounts Payable	-114.29	-7.23	31.92	125.61
Operating Cash Flow	-256.58	-32.36	-225.87	-20.96
Capital Expenditures	-172.39	-336.8	-145.42	-45.04
Sale of Property, Plant & Equipment	0.04	-	-	-
Investment in Securities	-315	-1,285	-	-
Other Investing Activities	32.39	12.24	-	0
Investing Cash Flow	-454.96	-1,610	-145.42	-45.04
Long-Term Debt Issued	80	-	313.25	222.12
Long-Term Debt Repaid	-52.25	-30.04	-386.62	-162.16
Net Debt Issued (Repaid)	27.75	-30.04	-73.37	59.96
Issuance of Common Stock	-	-	3,266	204.8
Common Dividends Paid	-142.47	-77.61	-48.56	-38.19
Other Financing Activities	-	-	-1.36	-
Financing Cash Flow	-114.71	-107.65	3,142	226.57
Net Cash Flow	-826.26	-1,750	2,771	160.57
Free Cash Flow	-428.97	-369.15	-371.29	-66
Free Cash Flow Margin	-40.35%	-28.46%	-47.67%	-13.14%
Free Cash Flow Per Share	-2.15	-1.85	-2.23	-0.44
Cash Income Tax Paid	142.87	133.87	61.12	51.16
Levered Free Cash Flow	-590.67	-528.26	-455.51	-120.25
Unlevered Free Cash Flow	-589.48	-527.13	-449.63	-117.6
Change in Working Capital	-732.35	-705.85	-613.21	-244.92

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