SHA:688518 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	165.53	286.29	266.95	92.01
Depreciation & Amortization	68.72	70.66	46.85	28.1
Other Amortization	7.7	5.3	3.66	2.25
Loss (Gain) From Sale of Assets	-2.9	0.02	-0.21	-0.02
Asset Writedown & Restructuring Costs	1.28	0.67	69.44	23.4
Loss (Gain) From Sale of Investments	-9.29	-6.54	-4.25	-16.39
Provision & Write-off of Bad Debts	58.78	49.09	-	-
Other Operating Activities	71.02	19.88	-0.64	2.71
Change in Accounts Receivable	-419.41	-366.62	-932.98	-491.85
Change in Inventory	367.15	108.31	-821.17	-1,031
Change in Accounts Payable	-428.36	66.67	1,163	1,375
Change in Other Net Operating Assets	2.9	9.26	18.83	13.38
Operating Cash Flow	-126.84	236.31	-199.04	-10.21
Capital Expenditures	-323.73	-159.44	-292.56	-198.03
Sale of Property, Plant & Equipment	0.18	-	0.46	0.24
Investment in Securities	-193	-295.77	299.79	121.13
Other Investing Activities	8.89	5.43	3.66	16.76
Investing Cash Flow	-507.65	-449.78	11.35	-59.91
Long-Term Debt Issued	889.99	249.83	247.14	17
Long-Term Debt Repaid	-301.26	-265.71	-54.69	-1.05
Net Debt Issued (Repaid)	588.73	-15.89	192.45	15.95
Issuance of Common Stock	16.07	988.72	12.88	-
Common Dividends Paid	-64.16	-44.26	-38.42	-36.15
Dividends Paid	-64.16	-44.26	-38.42	-36.15
Other Financing Activities	8.37	-1.45	-1.27	-11.78
Financing Cash Flow	549.02	927.13	165.64	-31.98
Foreign Exchange Rate Adjustments	0.55	1.83	5.77	-2.04
Net Cash Flow	-84.92	715.49	-16.29	-104.15
Free Cash Flow	-450.57	76.87	-491.61	-208.24
Free Cash Flow Margin	-14.31%	2.19%	-17.42%	-14.88%
Free Cash Flow Per Share	-1.32	0.23	-1.62	-0.70
Cash Income Tax Paid	48.42	66.07	50.16	34.81
Levered Free Cash Flow	-417.6	-26.96	-462.56	-165.04
Unlevered Free Cash Flow	-409.09	-22.35	-460.23	-164.27
Change in Working Capital	-490.68	-189.06	-580.84	-142.26

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