SHA:688535 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	24.01	40.06	31.64	41.23	47.6
Depreciation & Amortization	30.91	17.36	11.63	10.57	9.53
Other Amortization	0.35	0.65	0.4	0.18	0.2
Loss (Gain) From Sale of Assets	0.02	-0.11	-	-	-
Asset Writedown & Restructuring Costs	3.61	0.14	0.01	0.09	0.4
Loss (Gain) From Sale of Investments	-24.96	-20.51	-14.24	-1.76	0.03
Provision & Write-off of Bad Debts	-	1.23	1.28	0.46	1.48
Other Operating Activities	7.83	2.4	0.89	1.29	3.77
Change in Accounts Receivable	-14.28	-26.67	7.32	23.98	-32.69
Change in Inventory	-7.77	-3.92	-13.34	2.39	-34.1
Change in Accounts Payable	-22.42	-3.68	8.97	-66.7	7.59
Change in Other Net Operating Assets	15.77	-2.79	-1.54	-0.57	-2.24
Operating Cash Flow	7.68	2.98	31.61	11.95	1.69
Operating Cash Flow Growth	157.90%	-90.58%	164.41%	607.75%	-
Capital Expenditures	-46.01	-66.19	-71.46	-9.73	-9.22
Sale of Property, Plant & Equipment	0.62	0.19	-	-	-
Cash Acquisitions	-214.9	-	-	-	-
Investment in Securities	43.48	-40.46	-669.81	3.77	-2.04
Other Investing Activities	-	-	-	-	0.27
Investing Cash Flow	-216.81	-106.46	-741.27	-5.96	-11
Short-Term Debt Issued	-	-	-	-	100.4
Long-Term Debt Issued	116.13	214.15	66.02	-	-
Total Debt Issued	116.13	214.15	66.02	-	100.4
Short-Term Debt Repaid	-	-	-	-	-185.46
Long-Term Debt Repaid	-115.78	-57.15	-21.02	-	-
Total Debt Repaid	-115.78	-57.15	-21.02	-	-185.46
Net Debt Issued (Repaid)	0.35	157	45	-	-85.06
Issuance of Common Stock	794.34	-	655.92	-	186.75
Common Dividends Paid	-22.22	-33.96	-16.76	-6.05	-9.33
Other Financing Activities	-49.81	0.1	-18.63	-5.52	-0.25
Financing Cash Flow	722.67	123.14	665.53	-11.57	92.11
Foreign Exchange Rate Adjustments	-0.98	0	-0.1	-1.29	0.55
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0
Net Cash Flow	512.55	19.65	-44.23	-6.87	83.35
Free Cash Flow	-38.34	-63.22	-39.86	2.22	-7.53
Free Cash Flow Margin	-8.37%	-19.06%	-14.09%	0.73%	-2.17%
Free Cash Flow Per Share	-0.32	-0.53	-0.36	0.03	-0.10
Cash Income Tax Paid	7.96	9.11	9.83	10.58	14.14
Levered Free Cash Flow	-448.37	-55.82	-65.01	21.82	-7.85
Unlevered Free Cash Flow	-448.37	-54.59	-64.55	21.84	-5.32
Change in Working Capital	-34.1	-38.25	-0	-40.09	-61.33

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