SHA:688789 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	552.39	414.4	325.26	243.03	226.6
Depreciation & Amortization	58.5	42.1	39.12	21.52	20.55
Other Amortization	-	1.51	-	0.18	0.75
Loss (Gain) From Sale of Assets	-8.06	-0.36	-0.11	0.19	0.09
Asset Writedown & Restructuring Costs	2.83	1.15	0.4	0.84	0.32
Loss (Gain) From Sale of Investments	-1.19	-2.17	5.44	2.31	-3.11
Provision & Write-off of Bad Debts	-	17.34	6.42	6.01	8.63
Other Operating Activities	21.51	18	-4.7	-11.86	20.25
Change in Accounts Receivable	-309.86	-314.09	-148.39	-11.81	-137.08
Change in Inventory	-50.89	10.22	-158.9	-65.96	-62.26
Change in Accounts Payable	-10.96	-46.31	104.11	-11.4	30.05
Change in Other Net Operating Assets	31.2	23.39	-8.36	13.59	8.21
Operating Cash Flow	279.58	164.43	157.19	179.33	111.36
Operating Cash Flow Growth	70.03%	4.61%	-12.35%	61.04%	-24.68%
Capital Expenditures	-368.3	-214.29	-403.36	-150.81	-122.95
Sale of Property, Plant & Equipment	13.78	10.99	2.62	0.4	0.24
Cash Acquisitions	-38.04	-	-190.44	-62.33	-
Investment in Securities	-143.54	-276.58	-122.85	-96.84	-89.77
Other Investing Activities	142.83	7.28	1.54	-	-
Investing Cash Flow	-393.28	-472.59	-712.49	-309.58	-212.48
Long-Term Debt Issued	231.98	549.25	1,218	17	30.5
Long-Term Debt Repaid	-46.94	-509.17	-1,132	-68.34	-1.64
Net Debt Issued (Repaid)	185.04	40.08	85.62	-51.34	28.86
Issuance of Common Stock	52.23	44.12	992.25	15.62	533.43
Repurchase of Common Stock	-	-38.31	-41.27	-	-
Common Dividends Paid	-165.98	-97.97	-95.05	-70.61	-2.32
Other Financing Activities	-62.65	336.11	-26.17	-1.05	-24.09
Financing Cash Flow	8.64	284.02	915.38	-107.38	535.89
Foreign Exchange Rate Adjustments	-6.26	2.21	14.36	15.27	-18.74
Net Cash Flow	-111.32	-21.94	374.45	-222.35	416.03
Free Cash Flow	-88.72	-49.86	-246.17	28.53	-11.59
Free Cash Flow Margin	-3.85%	-2.79%	-19.57%	3.19%	-1.23%
Free Cash Flow Per Share	-0.49	-0.28	-1.39	0.17	-0.08
Cash Income Tax Paid	57.88	46.3	4.53	38.26	21.38
Levered Free Cash Flow	-409.74	-65.11	-443.77	-16.53	-87.19
Unlevered Free Cash Flow	-409.74	-61.36	-441.5	-16.39	-87.16
Change in Working Capital	-346.41	-327.55	-214.65	-82.89	-162.73

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