SHA:688439 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	157.15	322.54	610.61	303.02	176.92
Depreciation & Amortization	63.47	50.2	36.48	24.41	15.61
Other Amortization	2.04	6	4.6	1.52	0.39
Loss (Gain) From Sale of Assets	-	-0.01	-0.03	-	1.98
Asset Writedown & Restructuring Costs	9.62	-	-	-	-
Loss (Gain) From Sale of Investments	-17.64	-32.77	-15.84	-	-
Provision & Write-off of Bad Debts	-	90.63	20.9	10.26	0.29
Other Operating Activities	-13.52	39.19	16.77	48.14	28.76
Change in Accounts Receivable	266.5	-598.48	-640.4	-365.68	-173.65
Change in Inventory	52.89	-18.38	-48.55	-266.54	-193.87
Change in Accounts Payable	23.2	-114.29	-7.23	31.92	125.61
Operating Cash Flow	552.37	-256.58	-32.36	-225.87	-20.96
Capital Expenditures	-87.28	-172.39	-336.8	-145.42	-45.04
Sale of Property, Plant & Equipment	0.4	0.04	-	-	-
Investment in Securities	57	-315	-1,285	-	-
Other Investing Activities	25.75	32.39	12.24	-	0
Investing Cash Flow	-4.14	-454.96	-1,610	-145.42	-45.04
Long-Term Debt Issued	150	80	-	313.25	222.12
Long-Term Debt Repaid	-113.01	-52.25	-30.04	-386.62	-162.16
Net Debt Issued (Repaid)	36.99	27.75	-30.04	-73.37	59.96
Issuance of Common Stock	-	-	-	3,266	204.8
Common Dividends Paid	-35.36	-142.47	-77.61	-48.56	-38.19
Other Financing Activities	-8.96	-	-	-1.36	-
Financing Cash Flow	-7.34	-114.71	-107.65	3,142	226.57
Net Cash Flow	540.89	-826.26	-1,750	2,771	160.57
Free Cash Flow	465.08	-428.97	-369.15	-371.29	-66
Free Cash Flow Margin	60.27%	-40.35%	-28.46%	-47.67%	-13.14%
Free Cash Flow Per Share	2.33	-2.15	-1.85	-2.23	-0.44
Cash Income Tax Paid	97.39	142.87	133.87	61.12	51.16
Levered Free Cash Flow	443.55	-590.67	-528.26	-455.51	-120.25
Unlevered Free Cash Flow	443.55	-589.48	-527.13	-449.63	-117.6
Change in Working Capital	351.25	-732.35	-705.85	-613.21	-244.92

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