SHA:688755 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	67	59.65	79.34	51.5	38.56	4.86
Depreciation & Amortization	16.69	16.69	14.77	6.87	4.91	3.75
Other Amortization	2.32	2.32	3.34	-	-	-
Loss (Gain) From Sale of Assets	0	0	0	-	-	-
Asset Writedown & Restructuring Costs	0.95	0.95	-0.17	-	-	-
Loss (Gain) From Sale of Investments	-0.62	-0.62	-	-	-	-
Provision & Write-off of Bad Debts	8.59	8.59	7.7	-	-	-
Other Operating Activities	30.17	30.94	37.89	54.96	-23.64	21.84
Change in Accounts Receivable	-88.7	-88.7	-6.76	-	-	-
Change in Inventory	-15.76	-15.76	8.7	-	-	-
Change in Accounts Payable	96.18	96.18	-32.05	-	-	-
Change in Other Net Operating Assets	21.69	21.69	21.93	-	-	-
Operating Cash Flow	129	122.42	129.88	113.33	19.84	30.45
Operating Cash Flow Growth	74.17%	-5.74%	14.60%	471.33%	-34.86%	82.69%
Capital Expenditures	-111.08	-96.22	-39.81	-50.24	-45.34	-85.03
Sale of Property, Plant & Equipment	0.02	0.02	0	0.02	0.06	0.02
Investment in Securities	-149	-165	-	-	48	23.9
Other Investing Activities	1.02	0.5	-	-	0.7	1.6
Investing Cash Flow	-259.05	-260.7	-39.81	-50.22	3.42	-59.5
Long-Term Debt Issued	-	9.05	18.15	60.99	60	90
Long-Term Debt Repaid	-	-24.05	-117.79	-63.5	-30	-32.08
Net Debt Issued (Repaid)	-9	-15	-99.64	-2.51	30	57.92
Issuance of Common Stock	464.91	464.91	-	-	325.38	-
Common Dividends Paid	-8.99	-9.06	-3.28	-4.35	-4.47	-2.12
Other Financing Activities	-28.47	-29.23	-6.29	-3.07	-0.22	-0.28
Financing Cash Flow	418.45	411.62	-109.21	-9.93	350.69	55.52
Foreign Exchange Rate Adjustments	-8.91	-5.14	0.74	0.1	0.15	0.11
Net Cash Flow	279.5	268.2	-18.4	53.29	374.1	26.58
Free Cash Flow	17.92	26.2	90.07	63.08	-25.5	-54.58
Free Cash Flow Growth	-42.01%	-70.91%	42.77%	-	-	-
Free Cash Flow Margin	2.34%	3.56%	13.04%	10.19%	-5.29%	-17.03%
Free Cash Flow Per Share	0.21	0.33	1.36	0.96	-0.41	-
Cash Income Tax Paid	34.49	24.04	37.51	44.32	10.08	0.96
Levered Free Cash Flow	12.34	21.12	43.17	-29.89	-47.79	-52.24
Unlevered Free Cash Flow	12.42	21.25	45.18	-27.15	-45.99	-51.51
Change in Working Capital	3.9	3.9	-12.99	-	-	-

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