SHA:688779 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	373.16	228.04	-507.58	-124.47	1,489	700.64
Depreciation & Amortization	384.24	384.24	359.54	263.8	181.21	131.59
Loss (Gain) From Sale of Assets	0.21	0.21	-1.23	0.7	0.93	0.04
Asset Writedown & Restructuring Costs	163.42	163.42	15.66	1.79	3.95	1.29
Loss (Gain) From Sale of Investments	45.56	45.56	-2.02	-	-	-10.52
Provision & Write-off of Bad Debts	-	-	-5.53	34.94	8.62	4.75
Other Operating Activities	-469.42	168.58	391.31	231.83	97.94	3.22
Change in Accounts Receivable	-3,024	-3,024	892.85	489.42	-3,610	-1,815
Change in Inventory	-753.67	-753.67	-561.07	1,501	-771.05	-874.2
Change in Accounts Payable	3,151	3,151	-246.63	-2,217	2,936	1,234
Operating Cash Flow	-253.65	239.22	262.47	106.1	303.09	-632.17
Operating Cash Flow Growth	-	-8.86%	147.36%	-64.99%	-	-
Capital Expenditures	-94.74	-132.62	-338.53	-648.98	-468.03	-958.07
Sale of Property, Plant & Equipment	0.36	0.71	2.81	0.7	0.52	0.23
Investment in Securities	-9	-9	-500.75	-	-	-
Other Investing Activities	-81.2	-41.2	-14	-	-	-
Investing Cash Flow	-184.58	-182.11	-850.47	-648.28	-467.5	-957.85
Long-Term Debt Issued	-	-	-	68.44	4,268	28.48
Total Debt Issued	-	-	-	68.44	4,268	28.48
Long-Term Debt Repaid	-	-	-547.67	-75.43	-370	-13
Total Debt Repaid	-	-	-547.67	-75.43	-370	-13
Net Debt Issued (Repaid)	-	-	-547.67	-6.99	3,898	15.48
Issuance of Common Stock	-	-	-	-	-	2,647
Common Dividends Paid	-32.5	-32.5	-23.25	-458.09	-215.04	-
Other Financing Activities	-	-	-	-	-2.03	-1.01
Financing Cash Flow	-32.5	-32.5	-570.92	-465.08	3,681	2,662
Foreign Exchange Rate Adjustments	-1.11	-0.62	0.48	0.5	3.8	-0.7
Net Cash Flow	-471.84	23.99	-1,158	-1,007	3,521	1,071
Free Cash Flow	-348.39	106.6	-76.07	-542.88	-164.94	-1,590
Free Cash Flow Margin	-3.18%	1.14%	-1.37%	-5.06%	-0.92%	-23.24%
Free Cash Flow Per Share	-0.19	0.06	-0.04	-0.26	-0.08	-1.00
Cash Interest Paid	-	-	-	-	-	1.01
Cash Income Tax Paid	50.2	63.76	42.97	64.67	242.52	126.43
Levered Free Cash Flow	-345.49	129.93	-201.11	-309.61	566.39	-1,665
Unlevered Free Cash Flow	-345.49	129.93	-110.21	-265.75	574.7	-1,664
Change in Working Capital	-750.84	-750.84	12.34	-302.49	-1,479	-1,463

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