SHA:688685 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	65.58	45.54	15.25	42.47	50.96	51.2
Depreciation & Amortization	48.95	48.95	31.65	30.3	25.56	15.76
Other Amortization	6.66	6.66	1.22	1.56	0.44	1.79
Loss (Gain) From Sale of Assets	0.66	0.66	1.52	-0.07	-0.4	1.32
Asset Writedown & Restructuring Costs	0.07	0.07	0.08	-	2.29	3.84
Loss (Gain) From Sale of Investments	0.04	0.04	0.04	-	0.4	0.12
Provision & Write-off of Bad Debts	31.73	31.73	0.32	1.2	1.46	3.11
Other Operating Activities	351.61	37.8	5.75	3.82	1.96	3.8
Change in Accounts Receivable	-549.39	-549.39	8.53	-30.7	20.01	-64.49
Change in Inventory	16.21	16.21	-38.77	2.75	0.29	-10.12
Change in Accounts Payable	145.91	145.91	3.27	11.47	16.34	53.48
Change in Other Net Operating Assets	10.93	10.93	-1.35	-0.79	-1.01	2.15
Operating Cash Flow	117.29	-216.55	26.78	62.42	118.3	60.69
Operating Cash Flow Growth	20.88%	-	-57.10%	-47.23%	94.94%	18.77%
Capital Expenditures	-401.62	-613.51	-176.3	-76.6	-38.05	-81.41
Sale of Property, Plant & Equipment	1.99	2.09	6.88	23.11	5.55	2.09
Cash Acquisitions	-	-	-	-9.55	-	-
Investment in Securities	-3.72	-	9.48	46.45	-69	95.76
Other Investing Activities	0.01	-	-3.29	-1	1.22	-
Investing Cash Flow	-403.33	-611.42	-163.23	-17.59	-100.27	16.44
Long-Term Debt Issued	-	1,063	11.3	6	8	137.65
Long-Term Debt Repaid	-	-264.75	-22.6	-25.3	-62.33	-178.75
Net Debt Issued (Repaid)	524.64	797.76	-11.3	-19.3	-54.33	-41.1
Issuance of Common Stock	40.12	40.12	-	-	220.26	-
Common Dividends Paid	-52.23	-24.64	-34.88	-1.3	-2.3	-1.85
Other Financing Activities	-29.4	-4.28	-	-10.2	-14.9	-3.49
Financing Cash Flow	483.14	808.96	-46.18	-30.8	148.73	-46.44
Foreign Exchange Rate Adjustments	1.15	-0	-0	-0.32	-0.45	0.09
Net Cash Flow	198.25	-19.02	-182.63	13.72	166.31	30.79
Free Cash Flow	-284.33	-830.07	-149.52	-14.18	80.26	-20.72
Free Cash Flow Margin	-45.68%	-174.10%	-50.91%	-4.38%	25.02%	-7.18%
Free Cash Flow Per Share	-1.94	-5.65	-0.98	-0.10	0.62	-0.19
Cash Income Tax Paid	90.77	11.07	15.17	35.1	5.48	9.43
Levered Free Cash Flow	-347.71	-632.96	-166.56	-48.67	50.26	-71.09
Unlevered Free Cash Flow	-329.41	-622.24	-166.23	-47.87	51.66	-69.96
Change in Working Capital	-387.99	-387.99	-29.03	-16.87	35.62	-20.25

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