SHA:688680 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-558.44	-228.57	50.09	252.18
Depreciation & Amortization	109.5	99.76	67.05	39.07
Other Amortization	28	20.39	16.32	7.95
Loss (Gain) From Sale of Assets	28.65	-0.35	-0.36	-0.01
Asset Writedown & Restructuring Costs	105.21	0.08	0.03	0.18
Loss (Gain) From Sale of Investments	-0.96	-3.23	-6.89	-11.9
Provision & Write-off of Bad Debts	2.96	-2.25	4.14	3.01
Other Operating Activities	158.93	279.75	195.19	48.61
Change in Accounts Receivable	-713.25	-759.9	-2,423	-1,671
Change in Inventory	415.86	393.42	-1,063	-204.19
Change in Accounts Payable	757.43	-784.82	273.87	136.17
Change in Other Net Operating Assets	1.29	-	-	-
Operating Cash Flow	359.54	-1,068	-2,915	-1,402
Capital Expenditures	-73.77	-230.16	-143.41	-123.49
Sale of Property, Plant & Equipment	-	-	-	0
Investment in Securities	121.34	-135.84	-0.5	-
Other Investing Activities	2.24	25.62	11.91	-
Investing Cash Flow	49.81	-340.37	-132	-123.49
Short-Term Debt Issued	684.04	1,549	1,604	850.79
Long-Term Debt Issued	281	1,450	2,918	-
Total Debt Issued	965.04	2,999	4,522	850.79
Short-Term Debt Repaid	-	-	-	-321.21
Long-Term Debt Repaid	-1,400	-1,654	-1,116	-22.62
Total Debt Repaid	-1,400	-1,654	-1,116	-343.84
Net Debt Issued (Repaid)	-435	1,346	3,406	506.95
Issuance of Common Stock	-	-	-	1,365
Repurchase of Common Stock	-26.19	-50	-	-
Common Dividends Paid	-38.78	-68.98	-105.49	-61.33
Dividends Paid	-38.78	-68.98	-105.49	-61.33
Other Financing Activities	-	-0.75	-21.4	-32.71
Financing Cash Flow	-499.96	1,226	3,279	1,778
Foreign Exchange Rate Adjustments	-0.89	-1.07	-2.77	-0.82
Net Cash Flow	-91.51	-183.52	229.34	252.09
Free Cash Flow	285.77	-1,298	-3,058	-1,525
Free Cash Flow Margin	11.03%	-26.65%	-57.63%	-49.13%
Free Cash Flow Per Share	3.44	-15.51	-34.80	-18.57
Cash Income Tax Paid	10.3	-4.38	74.47	36
Levered Free Cash Flow	1,298	888.61	-1,910	-1,334
Unlevered Free Cash Flow	1,336	931.23	-1,873	-1,322
Change in Working Capital	485.68	-1,234	-3,241	-1,741

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