SHA:688621 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	177.41	184.76	156.47	105.66
Depreciation & Amortization	48.33	43.5	38.83	27.47
Other Amortization	20.16	20.48	14.01	5.91
Loss (Gain) From Sale of Assets	-	-	0.04	-0
Asset Writedown & Restructuring Costs	0.31	0.71	0.21	0.52
Loss (Gain) From Sale of Investments	1.82	-1.29	-2.62	-1.68
Provision & Write-off of Bad Debts	41.68	57.77	18.66	10.47
Other Operating Activities	10.31	12.68	10.64	5.12
Change in Accounts Receivable	-326.37	-250.51	-151.92	-143.04
Change in Inventory	-0.64	-1.87	-4.7	-1.55
Change in Accounts Payable	70.22	48.77	36.05	81.74
Change in Other Net Operating Assets	12.98	-	-	-
Operating Cash Flow	32.02	92.86	103.96	88.25
Operating Cash Flow Growth	-65.52%	-10.67%	17.80%	40.09%
Capital Expenditures	-30.48	-72.96	-103.87	-84.96
Sale of Property, Plant & Equipment	-	0	0	0
Investment in Securities	-40	-17	89.75	-192.51
Other Investing Activities	27.86	1.29	2.62	1.68
Investing Cash Flow	-42.63	-88.66	-11.5	-275.78
Short-Term Debt Issued	-	-	216.17	148.01
Long-Term Debt Issued	431.15	393.49	-	-
Total Debt Issued	431.15	393.49	216.17	148.01
Short-Term Debt Repaid	-	-	-153.01	-33.5
Long-Term Debt Repaid	-439.6	-237.61	-11.72	-16.19
Total Debt Repaid	-439.6	-237.61	-164.72	-49.69
Net Debt Issued (Repaid)	-8.44	155.88	51.45	98.32
Issuance of Common Stock	-	-	-	487.55
Common Dividends Paid	-38.15	-55.52	-26.98	-1.25
Other Financing Activities	-81.14	-22.56	1.75	-16.15
Financing Cash Flow	-127.74	77.8	26.22	568.48
Net Cash Flow	-138.35	82	118.68	380.95
Free Cash Flow	1.54	19.9	0.09	3.29
Free Cash Flow Growth	-92.28%	21552.67%	-97.21%	-90.84%
Free Cash Flow Margin	0.14%	2.14%	0.01%	0.67%
Free Cash Flow Per Share	0.01	0.18	0.00	0.03
Cash Income Tax Paid	65.46	41.24	32.8	12.06
Levered Free Cash Flow	-54.66	-53.26	-49.86	-26.78
Unlevered Free Cash Flow	-44.59	-45.65	-43.79	-24.55
Change in Working Capital	-268.01	-225.74	-132.28	-65.23

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