SHA:688663 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	101.75	174.34	165.62	128.69	116.08
Depreciation & Amortization	23.72	16.43	13.37	11.55	9.51
Other Amortization	0.88	1.78	0.62	0.07	-
Loss (Gain) From Sale of Assets	-	-	0.02	-	0
Asset Writedown & Restructuring Costs	18.97	-	0	-	-
Loss (Gain) From Sale of Investments	0.23	-0.93	-3.23	-9.24	-6.41
Provision & Write-off of Bad Debts	17.88	-0.39	7.61	12.46	4.12
Other Operating Activities	0.46	18.44	3.72	2	0.7
Change in Accounts Receivable	237.49	-132.67	-96.58	-353.98	-150.78
Change in Inventory	-307.69	2.66	-97.57	-147.35	-36.42
Change in Accounts Payable	312.59	159.65	179.32	407.33	99.76
Change in Other Net Operating Assets	3.15	4.23	18.73	7.28	-
Operating Cash Flow	402.11	238.6	188.07	54	36.33
Operating Cash Flow Growth	68.53%	26.86%	248.28%	48.66%	-70.94%
Capital Expenditures	-4.98	-11.58	-57.3	-18.17	-17.48
Sale of Property, Plant & Equipment	-	-	0	-	-
Investment in Securities	-	81.24	194.27	77.67	-351.25
Other Investing Activities	-	1.34	3.94	8.92	4.49
Investing Cash Flow	-4.98	70.99	140.91	68.42	-364.24
Short-Term Debt Issued	-	-	6.66	29.01	-
Total Debt Issued	-	-	6.66	29.01	-
Short-Term Debt Repaid	-	-	-14	-20	-20
Long-Term Debt Repaid	-	-1.77	-	-	-
Total Debt Repaid	-	-1.77	-14	-20	-20
Net Debt Issued (Repaid)	-	-1.77	-7.34	9.01	-20
Issuance of Common Stock	29.8	-	-	-	460.07
Common Dividends Paid	-83.15	-56.83	-37.7	-34.76	-26.01
Other Financing Activities	-50.87	4.9	14	0.86	-14.14
Financing Cash Flow	-104.21	-53.7	-31.04	-24.89	399.92
Foreign Exchange Rate Adjustments	-0.07	-	-	-	-
Net Cash Flow	292.85	255.89	297.94	97.53	72.01
Free Cash Flow	397.13	227.01	130.77	35.83	18.84
Free Cash Flow Growth	74.94%	73.60%	264.98%	90.17%	-81.55%
Free Cash Flow Margin	19.77%	11.84%	7.69%	2.75%	2.00%
Free Cash Flow Per Share	2.87	1.63	0.93	0.25	0.15
Cash Income Tax Paid	-	56.37	52.76	43.01	39.67
Levered Free Cash Flow	313.37	136.97	90.59	100.79	-23.69
Unlevered Free Cash Flow	313.69	137.06	90.63	100.9	-23.68
Change in Working Capital	238.23	28.93	0.35	-91.51	-87.67

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