SHA:688665 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	132.46	112.75	132.69	145.46	179.68
Depreciation & Amortization	47.35	38.43	25.01	15.42	10.75
Other Amortization	4.13	4.65	2.56	2.57	1.84
Loss (Gain) From Sale of Assets	-0.03	-0.02	-0.04	-0.03	-0.07
Asset Writedown & Restructuring Costs	8.56	0.04	0.08	0.13	0
Loss (Gain) From Sale of Investments	-8.04	-4.68	-0.02	-0.44	-
Provision & Write-off of Bad Debts	-	16.52	8.12	5.89	2.84
Other Operating Activities	21.18	9.21	6.26	2.08	6.5
Change in Accounts Receivable	-233.04	-184.26	-117.92	-71.75	-33.9
Change in Inventory	-60.37	-78.12	-8.56	-30.49	-67.33
Change in Accounts Payable	186.52	88.54	21.17	16.21	33.59
Change in Other Net Operating Assets	8.4	13.34	4.32	0.81	0.81
Operating Cash Flow	102.48	9.35	70.1	85.52	134.13
Operating Cash Flow Growth	996.15%	-86.66%	-18.03%	-36.24%	81.28%
Capital Expenditures	-62.56	-117.94	-108.73	-93.58	-148.51
Sale of Property, Plant & Equipment	0.24	0.05	0.05	-	0.03
Cash Acquisitions	-	-32.39	-	-	-
Investment in Securities	32.8	-32.8	-50	-	-
Other Investing Activities	0.76	3.22	0.02	0.44	-
Investing Cash Flow	-28.75	-179.86	-158.66	-93.14	-148.48
Long-Term Debt Issued	202.9	139.81	20	47.4	34.04
Long-Term Debt Repaid	-120.54	-47.88	-29.02	-33.95	-21.99
Net Debt Issued (Repaid)	82.36	91.92	-9.02	13.45	12.05
Issuance of Common Stock	12.87	-	-	-	476.02
Common Dividends Paid	-40.51	-62.82	-64.56	-88.88	-31
Other Financing Activities	-6.12	-	-	-0	-19.95
Financing Cash Flow	48.6	29.1	-73.58	-75.44	437.12
Foreign Exchange Rate Adjustments	-2.29	0.25	2.18	5.66	-0.88
Net Cash Flow	120.04	-141.17	-159.97	-77.4	421.89
Free Cash Flow	39.93	-108.59	-38.63	-8.06	-14.38
Free Cash Flow Margin	3.89%	-12.44%	-5.58%	-1.34%	-2.63%
Free Cash Flow Per Share	0.40	-1.09	-0.39	-0.08	-0.15
Cash Income Tax Paid	13.39	17.83	24.26	23.68	24.85
Levered Free Cash Flow	-2.04	-185.25	-83.02	-65.22	-50.39
Unlevered Free Cash Flow	-2.04	-183.43	-82.12	-64.41	-50.23
Change in Working Capital	-103.12	-167.56	-104.56	-85.57	-67.41

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