SHA:688528 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-109.54	-115.84	-65.24	-59.24	1.37	29.2
Depreciation & Amortization	42.84	42.84	49.25	37.61	30.76	19.95
Other Amortization	4.72	4.72	2.46	1.91	0.04	0.14
Loss (Gain) From Sale of Assets	-0.08	-0.08	-	-	-0	-0.02
Asset Writedown & Restructuring Costs	0.05	0.05	0.05	0.06	0.04	0.22
Loss (Gain) From Sale of Investments	0.73	0.73	0.59	0.45	0.13	-1.24
Provision & Write-off of Bad Debts	-2.08	-2.08	4	9.08	6.61	2.18
Other Operating Activities	-1.86	9.14	6.26	4.77	3.56	0.02
Change in Accounts Receivable	43.69	43.69	21.32	-17.15	-25.59	-27.39
Change in Inventory	4.15	4.15	-14.71	14.46	3.64	-39.48
Change in Accounts Payable	-9.22	-9.22	33.72	-9.51	6.88	-9.9
Operating Cash Flow	-20.73	-16.03	14.53	-39.74	19.11	-27.02
Capital Expenditures	-26.03	-23	-17.54	-63.12	-81.26	-76.25
Sale of Property, Plant & Equipment	-0.01	-	-	-	0.02	0.02
Cash Acquisitions	-	-	-	-4.55	-	-
Investment in Securities	-	-	-	-	23.94	140.11
Other Investing Activities	0.1	0.12	-	0.04	0.14	2.76
Investing Cash Flow	-25.95	-22.87	-17.54	-67.63	-57.16	66.64
Long-Term Debt Issued	-	75.5	139.25	74	111	30
Total Debt Issued	55.75	75.5	139.25	74	111	30
Long-Term Debt Repaid	-	-107.32	-128.99	-50.29	-54.18	-30
Total Debt Repaid	-87.88	-107.32	-128.99	-50.29	-54.18	-30
Net Debt Issued (Repaid)	-32.13	-31.82	10.26	23.71	56.82	-
Repurchase of Common Stock	-	-	-80	-	-	-
Common Dividends Paid	-4	-4.31	-4.47	-4.09	-13.17	-26.55
Other Financing Activities	36.28	55.34	-	-0.04	-	17.6
Financing Cash Flow	0.15	19.21	-74.21	19.59	43.65	-8.96
Foreign Exchange Rate Adjustments	-0.3	-0.01	0.06	0	0.04	-0.01
Net Cash Flow	-46.82	-19.7	-77.16	-87.78	5.64	30.65
Free Cash Flow	-46.76	-39.03	-3	-102.85	-62.15	-103.28
Free Cash Flow Margin	-16.95%	-14.45%	-0.94%	-31.45%	-16.89%	-33.79%
Free Cash Flow Per Share	-0.29	-0.25	-0.02	-0.61	-0.45	-0.60
Cash Income Tax Paid	4.7	10.85	8.35	6.07	3.45	11.16
Levered Free Cash Flow	-28.1	-12.81	5.41	-79.05	-72.81	-99.6
Unlevered Free Cash Flow	-24.67	-9.28	8.45	-76.32	-70.69	-98.83
Change in Working Capital	44.48	44.48	17.15	-34.4	-23.41	-77.47

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