SHA:688523 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	101.57	134.38	122.57	83.32
Depreciation & Amortization	36.87	30.01	22.26	19.2
Other Amortization	0.48	0.02	0.12	0.07
Loss (Gain) From Sale of Assets	-0.35	-	-	-
Asset Writedown & Restructuring Costs	0.01	0.01	0.02	0
Loss (Gain) From Sale of Investments	-11.95	-10.66	-0.12	-0.06
Provision & Write-off of Bad Debts	13.56	15.6	11.95	9.15
Other Operating Activities	17.55	7.7	10.74	2.74
Change in Accounts Receivable	-114.63	-162.34	-99.43	-62.88
Change in Inventory	-37.01	-45.05	-25.65	-13.11
Change in Accounts Payable	46.96	74.57	57.13	35.49
Change in Other Net Operating Assets	0.13	0.13	0.13	0.05
Operating Cash Flow	57.29	39.26	106.03	72.51
Operating Cash Flow Growth	45.93%	-62.97%	46.23%	-41.95%
Capital Expenditures	-286.89	-177.07	-153.18	-114.15
Sale of Property, Plant & Equipment	0.31	-	-	-
Investment in Securities	188	-606	-	-
Other Investing Activities	12.27	9.92	0.12	0.06
Investing Cash Flow	-86.3	-773.15	-153.06	-114.1
Long-Term Debt Issued	175.92	75.53	197	132
Long-Term Debt Repaid	-88.89	-41.44	-75.72	-74.2
Net Debt Issued (Repaid)	87.03	34.09	121.28	57.8
Issuance of Common Stock	-	893.64	-	2.5
Repurchase of Common Stock	-59.43	-	-	-
Common Dividends Paid	-89.56	-9.76	-29.19	-11.41
Other Financing Activities	-	-68.65	-6.1	-0.84
Financing Cash Flow	-61.96	849.31	85.99	48.05
Net Cash Flow	-90.97	115.42	38.96	6.47
Free Cash Flow	-229.59	-137.81	-47.15	-41.64
Free Cash Flow Margin	-45.19%	-30.21%	-11.75%	-13.61%
Free Cash Flow Per Share	-0.57	-0.35	-0.13	-0.11
Cash Income Tax Paid	50.15	48.71	21.47	32.31
Levered Free Cash Flow	-270.73	-219.16	-153.91	-23.3
Unlevered Free Cash Flow	-269.52	-218.86	-153.41	-22.14
Change in Working Capital	-100.44	-137.79	-61.51	-41.92

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