SHA:688629 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	358.57	-17.75	72.37	98.78	75.54
Depreciation & Amortization	137.86	112.4	93.65	80.75	71.16
Other Amortization	11.46	2.74	1.4	0.81	3.53
Loss (Gain) From Sale of Assets	-0.56	-0	-0.05	-0	-0.01
Asset Writedown & Restructuring Costs	8.4	0.24	0.05	9.65	8.39
Loss (Gain) From Sale of Investments	-7.56	-5.29	1.54	0.15	-5.24
Provision & Write-off of Bad Debts	38.51	8.78	5.45	6.46	2.28
Other Operating Activities	23.26	16.06	12.24	6.52	8.12
Change in Accounts Receivable	-738.71	-170.18	-9.02	-177.82	-83.54
Change in Inventory	-217.51	-102.5	-9.74	-69.57	4.81
Change in Accounts Payable	358.7	155.58	-32	156.21	15.72
Change in Other Net Operating Assets	2.46	-	1.54	1.46	0.74
Operating Cash Flow	-2.49	-3.09	120.63	109.91	100.44
Operating Cash Flow Growth	-	-	9.75%	9.43%	696.86%
Capital Expenditures	-395.7	-254.55	-118.07	-129.41	-100.74
Investment in Securities	67	-204.11	-204.6	-	-
Other Investing Activities	1.34	2.86	-0.75	-0.37	-18.34
Investing Cash Flow	-327.37	-455.79	-323.41	-129.79	-119.08
Short-Term Debt Issued	84.32	94.16	19.5	-	18.27
Long-Term Debt Issued	254.46	1.93	5	200	125
Total Debt Issued	338.78	96.09	24.5	200	143.27
Long-Term Debt Repaid	-71.68	-25.81	-9.23	-89.3	-97.68
Total Debt Repaid	-71.68	-25.81	-9.23	-89.3	-97.68
Net Debt Issued (Repaid)	267.09	70.27	15.27	110.7	45.59
Issuance of Common Stock	0.03	-	595.87	-	146.65
Common Dividends Paid	-8.41	-32.43	-9.49	-8.15	-5.26
Other Financing Activities	-17.43	-2.69	-16.61	-18.02	29.65
Financing Cash Flow	241.29	35.15	585.04	84.52	216.63
Foreign Exchange Rate Adjustments	0.03	-0.09	0.34	0.19	-0.12
Net Cash Flow	-88.54	-423.83	382.59	64.84	197.88
Free Cash Flow	-398.19	-257.64	2.57	-19.5	-0.3
Free Cash Flow Margin	-15.75%	-23.59%	0.28%	-1.98%	-0.04%
Free Cash Flow Per Share	-0.87	-0.58	0.01	-0.05	-0.00
Cash Income Tax Paid	79.95	19.77	34.86	49.96	42.04
Levered Free Cash Flow	-381.34	-68.75	-29.65	-145.92	-135.93
Unlevered Free Cash Flow	-375.03	-62.07	-23.27	-140.46	-129.43
Change in Working Capital	-572.42	-120.27	-66	-93.2	-63.34

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