SHA:688533 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	235.17	158.99	87.17	60.67
Depreciation & Amortization	93.58	73.45	54.34	46.35
Other Amortization	1.87	1.44	0.95	1.32
Loss (Gain) From Sale of Assets	0.01	0.68	0.08	-1.03
Asset Writedown & Restructuring Costs	19.35	1	20.22	1.2
Loss (Gain) From Sale of Investments	-2.94	1.81	-9.13	-8.8
Stock-Based Compensation	40.56	22.6	-	-
Provision & Write-off of Bad Debts	8.35	26.49	16.97	9.78
Other Operating Activities	52.41	41.3	0.47	22.2
Change in Accounts Receivable	-120.41	-230.88	-290.72	-85.36
Change in Inventory	-116.26	-4.49	-96.25	-88.01
Change in Accounts Payable	128.8	156.42	185.59	22.98
Change in Other Net Operating Assets	3.13	-	-	-
Operating Cash Flow	332.19	237.43	-34.92	-22.33
Operating Cash Flow Growth	39.91%	-	-	-
Capital Expenditures	-269.93	-595.74	-223.78	-78.32
Sale of Property, Plant & Equipment	4.04	1.04	4.36	6.06
Investment in Securities	-6.79	-43.44	160	-160.57
Other Investing Activities	2.24	-2.08	6.6	17.36
Investing Cash Flow	-270.43	-640.21	-52.83	-215.47
Long-Term Debt Issued	462.16	882.83	608.06	279
Total Debt Issued	462.16	882.83	608.06	279
Long-Term Debt Repaid	-426.27	-519	-289.71	-356.15
Total Debt Repaid	-426.27	-519	-289.71	-356.15
Net Debt Issued (Repaid)	35.89	363.83	318.35	-77.15
Issuance of Common Stock	28.44	-	-	271.06
Common Dividends Paid	-65.18	-44.17	-30.64	-11.85
Other Financing Activities	6.3	-1.18	-0.31	-12.54
Financing Cash Flow	5.46	318.49	287.4	169.52
Foreign Exchange Rate Adjustments	2.85	6.38	13.18	-10.02
Net Cash Flow	70.06	-77.92	212.83	-78.29
Free Cash Flow	62.26	-358.31	-258.7	-100.65
Free Cash Flow Margin	2.24%	-15.40%	-14.63%	-7.73%
Free Cash Flow Per Share	0.35	-2.23	-1.60	-0.68
Cash Income Tax Paid	81.96	13.54	-13.89	-8.54
Levered Free Cash Flow	-93.94	-470.34	-292.12	-123.53
Unlevered Free Cash Flow	-75.43	-455.99	-284.45	-115.88
Change in Working Capital	-116.17	-90.33	-205.99	-154.01

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