SHA:688519 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	240.33	50.32	-129.49	44.97	399.33
Depreciation & Amortization	159.77	131.33	119.28	89.56	68.51
Other Amortization	0.36	2.09	0.57	0.47	0.2
Loss (Gain) From Sale of Assets	0.01	-	-	-	0.18
Asset Writedown & Restructuring Costs	16.52	0.26	4.61	13.38	4.54
Loss (Gain) From Sale of Investments	1.97	0.44	-0.01	-7.55	-20.43
Provision & Write-off of Bad Debts	-	18.25	-2.55	-	-
Other Operating Activities	21.66	24.41	61.34	11.33	4.76
Change in Accounts Receivable	-1,151	-359.78	353.86	294.59	-953.88
Change in Inventory	-245.28	103.35	-118.84	-16.48	-131.51
Change in Accounts Payable	844.26	351.66	-216.7	-121.07	695.32
Change in Other Net Operating Assets	9.58	6.15	-13.75	8.52	10.23
Operating Cash Flow	-83.18	325.31	25.93	285.36	48.59
Operating Cash Flow Growth	-	1154.57%	-90.91%	487.30%	-
Capital Expenditures	-233.4	-140.23	-281.04	-519.95	-510.41
Sale of Property, Plant & Equipment	0.12	0.04	0.01	0.54	0.03
Investment in Securities	-4	37	200	399	281.57
Other Investing Activities	-1.1	-	1	10.57	-
Investing Cash Flow	-238.38	-103.2	-80.03	-109.84	-228.82
Short-Term Debt Issued	-	-	-	1,045	631.64
Long-Term Debt Issued	720	800	932.96	-	20
Total Debt Issued	720	800	932.96	1,045	651.64
Short-Term Debt Repaid	-	-569.48	-758.44	-960	-430.98
Long-Term Debt Repaid	-595	-339.33	-54.23	-3.8	-3.98
Total Debt Repaid	-595	-908.82	-812.67	-963.8	-434.96
Net Debt Issued (Repaid)	125	-108.82	120.29	81.16	216.69
Issuance of Common Stock	-	99.12	-	4.92	-
Repurchase of Common Stock	-	-149.99	-30	-216	-63.95
Common Dividends Paid	-32.25	-28.22	-71.32	-70.79	-51.66
Other Financing Activities	113.25	95.5	114.01	-214.97	-
Financing Cash Flow	206	-92.4	132.98	-415.68	101.07
Foreign Exchange Rate Adjustments	-2.49	1.55	-0.94	0.67	0.78
Net Cash Flow	-118.05	131.27	77.94	-239.49	-78.37
Free Cash Flow	-316.58	185.08	-255.11	-234.6	-461.82
Free Cash Flow Margin	-6.06%	5.51%	-8.55%	-6.21%	-10.98%
Free Cash Flow Per Share	-1.40	0.81	-1.12	-1.04	-1.97
Cash Interest Paid	-	2.51	0.96	-	-
Cash Income Tax Paid	47.46	9.17	-77.47	-2.68	82.62
Levered Free Cash Flow	-584.39	110.78	-169.2	-273.82	-670.11
Unlevered Free Cash Flow	-584.39	116.47	-160.52	-266.32	-666.65
Change in Working Capital	-523.8	98.22	-27.81	133.18	-408.5

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