SHA:688709 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	96.82	122.17	311.07	281.22	172.9	47.07
Depreciation & Amortization	31.21	31.21	31.57	27.81	23.13	15.25
Other Amortization	2.27	2.27	1.67	1.55	1.18	0.97
Loss (Gain) From Sale of Assets	-0	-0	-0	-	-	-
Asset Writedown & Restructuring Costs	0.08	0.08	0.44	0.06	0	0.01
Loss (Gain) From Sale of Investments	1.91	1.91	0.36	-0.06	-0	-0.04
Provision & Write-off of Bad Debts	36.98	36.98	28.61	14.1	4.84	9.45
Other Operating Activities	-245.95	33.4	17.62	21.88	14.13	5.96
Change in Accounts Receivable	-81.31	-81.31	-283.95	-481.08	-228.59	-171.56
Change in Inventory	-155.07	-155.07	-37.85	-87.82	-67.25	-76.47
Change in Accounts Payable	19.11	19.11	-32.28	200.63	10.3	100.51
Change in Other Net Operating Assets	25.48	25.48	25.49	26.69	23.85	22.45
Operating Cash Flow	-279.23	25.46	53.74	-1.65	-45.95	-45.81
Operating Cash Flow Growth	-	-52.61%	-	-	-	-
Capital Expenditures	-271.39	-208.06	-107.49	-165.25	-154.67	-61.37
Sale of Property, Plant & Equipment	-	0.01	0	0	0	-
Investment in Securities	151.73	-148.27	-	-158.38	-	0.47
Other Investing Activities	1.17	-	-	0	0	0.04
Investing Cash Flow	-118.5	-356.32	-107.49	-323.62	-154.67	-60.86
Long-Term Debt Issued	-	377.6	377.99	434.92	249.5	5
Long-Term Debt Repaid	-	-552.37	-344.09	-118.81	-95	-
Net Debt Issued (Repaid)	156.58	-174.77	33.91	316.12	154.5	5
Issuance of Common Stock	-	1,426	-	-	12	-
Common Dividends Paid	-21.86	-79.66	-10.93	-6.5	-2.26	-4.11
Other Financing Activities	-0.26	-	-	-	-2.35	-
Financing Cash Flow	134.45	1,172	22.97	309.62	161.9	0.89
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0	-0
Net Cash Flow	-263.27	840.93	-30.78	-15.65	-38.72	-105.77
Free Cash Flow	-550.62	-182.6	-53.76	-166.9	-200.62	-107.18
Free Cash Flow Margin	-78.80%	-30.24%	-5.80%	-19.76%	-37.28%	-31.71%
Free Cash Flow Per Share	-0.90	-0.30	-0.10	-0.31	-0.37	-0.20
Cash Income Tax Paid	63.28	70.91	113.09	43.19	40.32	17.03
Levered Free Cash Flow	-775.37	-355.27	-161.6	-313.94	-207.28	-162.17
Unlevered Free Cash Flow	-769.36	-349.92	-154.5	-308.8	-205.35	-159.72
Change in Working Capital	-202.54	-202.54	-337.59	-348.22	-262.12	-124.47

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.