SHA:688710 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-3.79	-10.48	147.78	194.45	135.41	94.69
Depreciation & Amortization	89.46	89.46	76.77	74.16	69.75	49.57
Other Amortization	6.56	6.56	9.36	6.79	6.46	6.12
Loss (Gain) From Sale of Assets	-21.2	-21.2	0	0	-0.21	-
Asset Writedown & Restructuring Costs	63.15	63.15	-	-	22.55	7.2
Provision & Write-off of Bad Debts	-	-	4.33	1.47	3.34	2.96
Other Operating Activities	154.69	13.25	40.71	27.5	13.42	10.99
Change in Accounts Receivable	-104.52	-104.52	23.44	-49.24	-61.37	-51.82
Change in Inventory	-157.54	-157.54	138.59	-49.35	-112.78	-190.18
Change in Accounts Payable	221.8	221.8	-549.22	-48.56	195.91	203.77
Change in Other Net Operating Assets	8.29	8.29	16.38	16.4	23.64	15.74
Operating Cash Flow	249.5	101.37	-96.6	168.19	278.66	143.53
Operating Cash Flow Growth	-	-	-	-39.64%	94.15%	99.22%
Capital Expenditures	-160.99	-133.94	-287.55	-234.04	-145.99	-99.2
Sale of Property, Plant & Equipment	-	-	-	0.01	0.5	-
Other Investing Activities	0.04	11.84	-63.66	-16.14	5.93	-
Investing Cash Flow	-160.95	-122.1	-351.21	-250.18	-139.55	-99.2
Long-Term Debt Issued	-	-	0.5	8	-	-
Short-Term Debt Repaid	-	-	-	-	-39	-
Long-Term Debt Repaid	-	-0.5	-31.18	-22.46	-	-
Total Debt Repaid	-0.5	-0.5	-31.18	-22.46	-39	-
Net Debt Issued (Repaid)	-0.5	-0.5	-30.68	-14.46	-39	-
Issuance of Common Stock	-	-	627.74	-	570	370.59
Common Dividends Paid	-45.11	-45.12	-0.23	-0.02	-32.27	-12.15
Other Financing Activities	-15.81	-16.54	-	-	-21.93	37.37
Financing Cash Flow	-61.42	-62.16	596.83	-14.47	476.8	395.81
Foreign Exchange Rate Adjustments	-0.74	-0.47	0.02	-	-	-
Net Cash Flow	26.38	-83.36	149.04	-96.46	615.91	440.13
Free Cash Flow	88.5	-32.57	-384.15	-65.85	132.67	44.33
Free Cash Flow Growth	-	-	-	-	199.32%	8814.66%
Free Cash Flow Margin	10.90%	-4.01%	-33.65%	-6.34%	15.37%	7.62%
Free Cash Flow Per Share	0.64	-0.23	-3.27	-0.62	1.37	0.60
Cash Income Tax Paid	5.7	8.92	26.75	43.38	-196,829	9.23
Levered Free Cash Flow	137.98	45.85	-399.67	-134.49	45.4	23.64
Unlevered Free Cash Flow	137.98	45.85	-392.37	-126.98	53.78	30.51
Change in Working Capital	-39.36	-39.36	-375.54	-136.18	45.2	-25.78

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