SHA:688802 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-972.8	-1,409	-871.16	-776.97
Depreciation & Amortization	128.55	182.48	142.38	113.8
Other Amortization	66.82	7.54	9.59	6.64
Loss (Gain) From Sale of Assets	1.35	17.48	-0.81	0.03
Asset Writedown & Restructuring Costs	37.86	37.86	33.23	-0.43
Loss (Gain) From Sale of Investments	-53.47	-15.6	-8.94	-6.33
Provision & Write-off of Bad Debts	26.92	6.13	0.37	-
Other Operating Activities	169.19	171.7	6.93	2.26
Change in Accounts Receivable	-622.48	-1,148	-323.93	-27.68
Change in Inventory	-690.06	-681.14	-169.63	-17.67
Change in Accounts Payable	-112.5	210.24	107.06	1.61
Change in Other Net Operating Assets	498.98	472.85	57.62	39.79
Operating Cash Flow	-1,522	-2,148	-1,017	-665.14
Capital Expenditures	-143.31	-393.63	-167.05	-231.68
Sale of Property, Plant & Equipment	0.94	1.23	0.02	0
Investment in Securities	-2,963	343.8	-20	74
Other Investing Activities	51.68	15.66	9.38	7.72
Investing Cash Flow	-3,054	-32.93	-177.65	-149.96
Short-Term Debt Issued	-	524.21	119.71	-
Total Debt Issued	-1,012	524.21	119.71	-
Short-Term Debt Repaid	-	-149.71	-	-
Total Debt Repaid	-388.66	-149.71	-	-
Net Debt Issued (Repaid)	-1,401	374.51	119.71	-
Issuance of Common Stock	6,881	904.7	1,100	731.86
Common Dividends Paid	-9.35	-7.68	-0.7	-0.13
Other Financing Activities	1,717	1,717	-22.13	-27.7
Financing Cash Flow	7,189	2,989	1,197	704.03
Foreign Exchange Rate Adjustments	-2.59	-18.85	0.84	0.09
Net Cash Flow	2,611	789.1	2.84	-110.99
Free Cash Flow	-1,665	-2,542	-1,184	-896.82
Free Cash Flow Margin	-94.82%	-342.05%	-2233.77%	-210324.60%
Free Cash Flow Per Share	-4.16	-12.65	-	-
Cash Income Tax Paid	23.09	18.58	-27.43	0.23
Levered Free Cash Flow	-	-2,534	-944.66	-
Unlevered Free Cash Flow	-	-2,526	-942.69	-
Change in Working Capital	-926.02	-1,147	-328.91	-4.15

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