SHA:688726 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
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
Net Income	741.24	729.32	410.81	118.22	-57.11
Depreciation & Amortization	53.14	53.14	38.99	19.96	4.64
Other Amortization	14.89	14.89	6.08	2.39	0.05
Loss (Gain) From Sale of Assets	0.2	0.2	-2.18	-	-
Asset Writedown & Restructuring Costs	0.12	0.12	0.22	0.14	-
Loss (Gain) From Sale of Investments	-39.68	-39.68	-14.9	-6.42	-2.01
Provision & Write-off of Bad Debts	175.49	175.49	51.54	25.31	2.24
Other Operating Activities	278.86	150.53	68.94	37.83	12.5
Change in Accounts Receivable	-123.56	-123.56	-1,329	-598.24	-361.22
Change in Inventory	1,581	1,581	-4,008	-1,757	-304.21
Change in Accounts Payable	-2,513	-2,513	5,969	1,968	563.11
Change in Other Net Operating Assets	71.36	71.36	55.76	13.9	1.11
Operating Cash Flow	219.79	79.54	1,188	-177.95	-159.75
Operating Cash Flow Growth	256.17%	-93.31%	-	-	-
Capital Expenditures	-95	-79.85	-272.2	-41.28	-53.94
Sale of Property, Plant & Equipment	1.03	0.18	0.01	-	-
Investment in Securities	-238.39	-593.16	-988.11	-333.9	-100
Other Investing Activities	24.96	23.41	8.01	-8.86	-1.92
Investing Cash Flow	-307.39	-649.42	-1,252	-384.05	-155.86
Long-Term Debt Issued	-	220	219.66	-	41
Long-Term Debt Repaid	-	-181.34	-21.38	-15	-76.1
Net Debt Issued (Repaid)	-56.89	38.66	198.28	-15	-35.1
Issuance of Common Stock	658.75	658.75	-	1,171	401.81
Common Dividends Paid	-155.99	-6.35	-1.73	-0.58	-3.49
Other Financing Activities	8.47	86.76	49.35	-13.27	14.39
Financing Cash Flow	454.35	777.82	245.9	1,142	377.61
Foreign Exchange Rate Adjustments	-3.34	-0.76	3.36	-0.63	-0.34
Miscellaneous Cash Flow Adjustments	-	-	-	0	0
Net Cash Flow	363.41	207.17	185.37	579.45	61.66
Free Cash Flow	124.8	-0.31	916.21	-219.24	-213.69
Free Cash Flow Margin	2.17%	-0.01%	30.89%	-17.32%	-206.30%
Free Cash Flow Per Share	0.31	-0.00	2.52	-0.61	-
Cash Income Tax Paid	336.09	103.25	105.22	60.08	1.28
Levered Free Cash Flow	3.63	-178.4	265.92	445.68	-
Unlevered Free Cash Flow	9.26	-172.99	268.29	448.53	-
Change in Working Capital	-1,004	-1,004	628.92	-375.38	-120.05

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