SHA:688503 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	419.68	418.01	442.08	391.21	246.78
Depreciation & Amortization	69.92	68.1	65.19	37.66	20.84
Other Amortization	7.28	14.42	7.16	2.2	3.83
Loss (Gain) From Sale of Assets	0.15	0.3	0.23	-	0.09
Asset Writedown & Restructuring Costs	9.14	28.76	36.97	2.9	1.13
Loss (Gain) From Sale of Investments	-238.96	-1.17	-28.58	-23.07	19.64
Provision & Write-off of Bad Debts	158.53	85.07	45.64	16.84	21.51
Other Operating Activities	268.9	35.15	15.18	33.85	-24.63
Change in Accounts Receivable	-11,057	-2,364	-3,251	-670.18	-1,328
Change in Inventory	-163.34	378.52	-704.31	-72.56	-248.94
Change in Accounts Payable	7,466	438.91	703.87	-924.23	231.9
Change in Other Net Operating Assets	20.89	23.74	14.13	-	-
Operating Cash Flow	-3,069	-895.48	-2,664	-1,215	-1,058
Capital Expenditures	-255.68	-223.44	-100.64	-158.68	-87.55
Sale of Property, Plant & Equipment	0.24	11.38	0.27	0.1	0.04
Cash Acquisitions	-	-	-115.31	-	-
Investment in Securities	-19.07	-84.16	348.86	-1,999	11.18
Other Investing Activities	101.87	-	-	21.1	-19.82
Investing Cash Flow	-172.64	-296.22	133.18	-2,136	-96.14
Short-Term Debt Issued	10,163	10,181	5,449	2,994	3,728
Total Debt Issued	10,163	10,181	5,449	2,994	3,728
Short-Term Debt Repaid	-6,420	-8,416	-2,967	-1,920	-2,530
Long-Term Debt Repaid	-5.78	-6.1	-5.7	-3.18	-2.83
Total Debt Repaid	-6,426	-8,422	-2,972	-1,924	-2,533
Net Debt Issued (Repaid)	3,736	1,760	2,476	1,070	1,195
Issuance of Common Stock	-	-	-	2,956	-
Repurchase of Common Stock	-	-520.02	-	-	-
Common Dividends Paid	-111.63	-184.78	-61.48	-3.92	-5.54
Other Financing Activities	-	4.5	-53.01	-28.1	4.56
Financing Cash Flow	3,625	1,059	2,362	3,994	1,194
Foreign Exchange Rate Adjustments	-16.72	-25.58	-3.04	1.43	20.41
Net Cash Flow	366.41	-158.06	-171.93	644.74	60.31
Free Cash Flow	-3,325	-1,119	-2,764	-1,374	-1,146
Free Cash Flow Margin	-22.78%	-8.96%	-26.86%	-21.12%	-22.54%
Free Cash Flow Per Share	-14.42	-4.71	-11.38	-7.47	-6.23
Cash Income Tax Paid	-7.63	55.73	28.07	72.6	36.3
Levered Free Cash Flow	-1,984	-73.37	-1,461	126.09	-941.2
Unlevered Free Cash Flow	-1,983	-70.93	-1,460	128.5	-937.49
Change in Working Capital	-3,764	-1,544	-3,248	-1,676	-1,348

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