SHA:688652 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	147.93	152.91	119.14	91.12	58.8
Depreciation & Amortization	21.57	17.88	13.96	12.1	9.39
Other Amortization	11.91	6.32	3.06	2.71	1.96
Loss (Gain) From Sale of Assets	-0.11	0.04	-	-	-
Asset Writedown & Restructuring Costs	0	-0.01	0.01	0	-0.01
Loss (Gain) From Sale of Investments	-18.14	-20.45	-0.07	-	-
Provision & Write-off of Bad Debts	-5.66	10.44	-1.91	8.35	0.81
Other Operating Activities	35.43	15.4	9.94	13.52	7.65
Change in Accounts Receivable	-139.4	-162.69	-26.26	-44.46	-41.4
Change in Inventory	-433.54	-1,044	-263.29	-343.54	-218.7
Change in Accounts Payable	765.3	1,034	190.2	274.57	204.46
Operating Cash Flow	381.37	-0.29	41.09	3.36	22.34
Operating Cash Flow Growth	-	-	1124.22%	-84.98%	-
Capital Expenditures	-241.85	-120.04	-29.34	-8.65	-10.29
Sale of Property, Plant & Equipment	-	0.04	-	-	-
Investment in Securities	-106.85	-541.83	-300	-3.7	-
Other Investing Activities	14.96	14.3	-	-	-
Investing Cash Flow	-333.75	-647.54	-329.34	-12.35	-10.29
Short-Term Debt Issued	149.04	94.22	129.95	134.5	74.5
Total Debt Issued	149.04	94.22	129.95	134.5	74.5
Short-Term Debt Repaid	-130	-145.43	-170	-89.5	-40
Long-Term Debt Repaid	-15.7	-13.51	-9.92	-10.16	-
Total Debt Repaid	-145.7	-158.93	-179.92	-99.66	-40
Net Debt Issued (Repaid)	3.34	-64.72	-49.97	34.84	34.5
Issuance of Common Stock	-	-	1,287	-	150
Common Dividends Paid	-21.01	-12.61	-2.24	-3.22	-1.74
Other Financing Activities	-	-	-	14.78	-7.36
Financing Cash Flow	-17.66	-77.32	1,235	46.4	175.4
Foreign Exchange Rate Adjustments	-0.76	-0.29	0.63	3.53	-1.08
Net Cash Flow	29.2	-725.45	946.99	40.93	186.38
Free Cash Flow	139.52	-120.34	11.75	-5.3	12.06
Free Cash Flow Margin	9.78%	-11.72%	1.58%	-0.80%	2.40%
Free Cash Flow Per Share	0.83	-0.72	0.09	-0.04	0.10
Cash Income Tax Paid	74.19	53.76	30.03	35.37	12.28
Levered Free Cash Flow	152.95	-214.95	24.18	-55.31	-5.14
Unlevered Free Cash Flow	154	-214.11	26.72	-52.89	-3.69
Change in Working Capital	188.43	-182.83	-103.03	-124.44	-56.26

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