SHA:688526 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	459.54	382.35	395.93	409.52	570.74	447.8
Depreciation & Amortization	109.5	109.5	114.27	97.69	62.64	37.03
Other Amortization	0.33	0.33	0.23	-	-	-
Loss (Gain) From Sale of Assets	0.33	0.33	0.09	-	-	-
Asset Writedown & Restructuring Costs	3.31	3.31	1.72	-1.29	1.57	2.43
Loss (Gain) From Sale of Investments	-37.6	-37.6	-9.34	-6.65	-5.13	-3.98
Provision & Write-off of Bad Debts	11.88	11.88	84.47	23.49	7.85	8.42
Other Operating Activities	-68.03	-33.46	-36.09	-41.45	-52.19	-30.49
Change in Accounts Receivable	-20.4	-20.4	-19.85	-134.36	-118.72	-123.29
Change in Inventory	6.43	6.43	8.81	-67.96	-38.5	-10.03
Change in Accounts Payable	-34.07	-34.07	15.15	121.36	77.77	72.55
Change in Other Net Operating Assets	-	-	-	6.74	9.07	-
Operating Cash Flow	435.31	392.68	538.03	423.71	531.27	400.14
Operating Cash Flow Growth	19.11%	-27.02%	26.98%	-20.25%	32.77%	158.34%
Capital Expenditures	-120.81	-106.94	-104.5	-102.85	-374.45	-111.6
Sale of Property, Plant & Equipment	2.59	2.59	0.18	0.08	-	0.03
Cash Acquisitions	-4.5	-	-4.05	-8.46	-	-
Investment in Securities	-328.56	161.16	-281.45	-582.14	12	-1,097
Other Investing Activities	120.96	39.78	60.83	56.24	31.35	18.67
Investing Cash Flow	-330.32	96.59	-329	-637.13	-331.1	-1,190
Short-Term Debt Issued	-	-	-	-	-	60
Long-Term Debt Issued	-	97	236.5	271.5	78	-
Total Debt Issued	-	97	236.5	271.5	78	60
Long-Term Debt Repaid	-	-385.09	-222.84	-78.84	-60.01	-
Net Debt Issued (Repaid)	-58.6	-288.09	13.66	192.66	17.99	60
Issuance of Common Stock	17.69	-	-	14.84	1.86	1,158
Repurchase of Common Stock	-35.29	-35.29	-	-	-	-
Common Dividends Paid	-199.78	-204.58	-97.09	-93.48	-136.82	-0.37
Other Financing Activities	54.48	24.79	-19	-0.5	-4.22	-12.17
Financing Cash Flow	-221.51	-503.18	-102.43	113.52	-121.18	1,206
Foreign Exchange Rate Adjustments	-0.02	0.02	0.05	-	-	-
Net Cash Flow	-116.54	-13.89	106.67	-99.89	78.99	415.56
Free Cash Flow	314.49	285.74	433.53	320.86	156.82	288.54
Free Cash Flow Growth	8.72%	-34.09%	35.12%	104.60%	-45.65%	1582.19%
Free Cash Flow Margin	31.01%	30.34%	40.74%	32.05%	14.22%	34.22%
Free Cash Flow Per Share	0.67	0.61	0.93	0.69	0.34	0.75
Cash Income Tax Paid	93.19	109.85	98.3	96.75	86.87	97.94
Levered Free Cash Flow	741.81	438.28	38.93	134.02	-1.1	208.51
Unlevered Free Cash Flow	742.12	441.27	44.03	137.43	0.04	208.77
Change in Working Capital	-43.96	-43.96	-13.26	-57.58	-54.22	-61.07

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