SHA:688655 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	-22.38	-1.97	13.47	46.51	64.08
Depreciation & Amortization	61.16	46.79	46.54	35.5	30.45
Other Amortization	1.26	1.28	1.3	0.98	0.39
Loss (Gain) From Sale of Assets	0.36	-0.53	0.04	-0.14	0.06
Asset Writedown & Restructuring Costs	8.01	0.09	0.01	0.01	2.75
Loss (Gain) From Sale of Investments	0.92	-0.31	-1.71	-3.76	-2.9
Provision & Write-off of Bad Debts	-	0.35	0.08	0.66	1.17
Other Operating Activities	11.71	3.69	2.74	-3.66	1.17
Change in Accounts Receivable	-45.73	22.28	-33.94	51.68	17.78
Change in Inventory	-53.4	-8.18	-1.14	12.44	-23.01
Change in Accounts Payable	-7.05	23.98	10.22	-56.94	-6.27
Change in Other Net Operating Assets	0.2	0.03	4.03	-	-
Operating Cash Flow	-48.35	90.21	37.15	82.23	85.35
Operating Cash Flow Growth	-	142.80%	-54.82%	-3.65%	56.87%
Capital Expenditures	-56.17	-141.26	-178.8	-73.01	-71.8
Sale of Property, Plant & Equipment	0.75	0	0.05	1.29	0.11
Investment in Securities	-4.47	47.33	12.3	40.54	-119.15
Investing Cash Flow	-59.89	-93.93	-166.46	-31.18	-190.84
Long-Term Debt Issued	166.24	108.5	41.5	40.92	10
Total Debt Issued	166.24	108.5	41.5	40.92	10
Long-Term Debt Repaid	-74.47	-77.93	-7.61	-10.77	-15.95
Total Debt Repaid	-74.47	-77.93	-7.61	-10.77	-15.95
Net Debt Issued (Repaid)	91.77	30.57	33.89	30.15	-5.95
Issuance of Common Stock	-	-	-	-	217.87
Common Dividends Paid	-4.07	-14.03	-10.93	-10.03	-0.37
Other Financing Activities	-5.41	-	-	-	-18.57
Financing Cash Flow	82.29	16.54	22.95	20.12	192.99
Foreign Exchange Rate Adjustments	-1.46	2.78	2.01	6.35	-0.25
Net Cash Flow	-27.41	15.6	-104.34	77.52	87.24
Free Cash Flow	-104.52	-51.06	-141.65	9.22	13.55
Free Cash Flow Growth	-	-	-	-31.95%	-70.76%
Free Cash Flow Margin	-15.17%	-10.76%	-30.52%	2.07%	2.40%
Free Cash Flow Per Share	-0.79	-0.38	-1.05	0.07	0.11
Cash Income Tax Paid	18.19	0.62	4.93	12.67	21.51
Levered Free Cash Flow	70.88	-103.25	-220.3	139.07	-2.34
Unlevered Free Cash Flow	70.88	-99.86	-218.94	139.68	-1.8
Change in Working Capital	-109.39	40.82	-25.32	6.14	-11.81

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