SHA:688570 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	56.41	97.84	339.58	424.5	396.64	371.18
Depreciation & Amortization	45.53	45.53	40.26	33.61	23.51	18.29
Other Amortization	5.72	5.72	1.06	0.99	0.77	-
Loss (Gain) From Sale of Assets	0.01	0.01	0.03	-0.26	0.36	0.55
Asset Writedown & Restructuring Costs	-	-	-	0.02	0.02	0.02
Loss (Gain) From Sale of Investments	-6.83	-6.83	-4.51	-0.11	8.17	1.68
Provision & Write-off of Bad Debts	20.05	20.05	24.64	27.16	7.09	-5.89
Other Operating Activities	43.2	0.51	1.8	4.26	-0.58	5.18
Change in Accounts Receivable	156.18	156.18	-141.4	-343.1	-159.14	-32.3
Change in Inventory	-47.94	-47.94	16.91	-75.21	-82.48	5.2
Change in Accounts Payable	-49.74	-49.74	89.3	198.35	93.32	160.41
Operating Cash Flow	212.73	211.46	366.51	265.54	284.56	527.3
Operating Cash Flow Growth	-39.96%	-42.30%	38.02%	-6.69%	-46.03%	233.69%
Capital Expenditures	-37.24	-41.47	-45.66	-34.79	-12.97	-24.17
Sale of Property, Plant & Equipment	0	0	0.03	0.02	0.37	0.15
Investment in Securities	-250	-	-47.03	-	-	-
Other Investing Activities	-115	-115	-299.99	-	-	-0.3
Investing Cash Flow	-402.24	-156.46	-392.65	-34.77	-12.6	-24.32
Short-Term Debt Issued	-	-	-	-	-	20
Total Debt Issued	-	-	-	-	-	20
Short-Term Debt Repaid	-	-	-	-	-	-20
Long-Term Debt Repaid	-	-3.49	-2.22	-2.25	-	-
Total Debt Repaid	-3.49	-3.49	-2.22	-2.25	-	-20
Net Debt Issued (Repaid)	-3.49	-3.49	-2.22	-2.25	-	-
Issuance of Common Stock	-	-	-	2,143	-	-
Common Dividends Paid	-142.89	-142.89	-173.2	-	-	-270.37
Other Financing Activities	-0.4	-	-1.19	-16.45	-2.54	-40.94
Financing Cash Flow	-146.78	-146.38	-176.61	2,125	-2.54	-311.31
Foreign Exchange Rate Adjustments	-	-	-	-	-0.01	-0.02
Net Cash Flow	-336.29	-91.38	-202.75	2,355	269.41	191.66
Free Cash Flow	175.49	169.98	320.85	230.75	271.59	503.13
Free Cash Flow Growth	-42.94%	-47.02%	39.05%	-15.04%	-46.02%	233.18%
Free Cash Flow Margin	11.21%	10.50%	17.24%	10.46%	13.80%	32.40%
Free Cash Flow Per Share	0.42	0.40	0.74	0.58	0.75	1.40
Cash Income Tax Paid	40.25	59.88	140.32	156.33	167.5	145.18
Levered Free Cash Flow	-14.82	222.78	244.9	131.79	196.95	391.97
Unlevered Free Cash Flow	-14	223.6	245.94	133.47	197.59	393.91
Change in Working Capital	48.63	48.63	-36.34	-224.63	-151.41	136.29

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