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 2025	FY 2024	FY 2023	FY 2022
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
Net Income	-655.78	-789.45	-1,409	-871.16	-776.97
Depreciation & Amortization	147.22	147.22	182.48	142.38	113.8
Other Amortization	50.44	50.44	7.54	9.59	6.64
Loss (Gain) From Sale of Assets	-0.28	-0.28	17.48	-0.81	0.03
Asset Writedown & Restructuring Costs	55.73	55.73	38.05	33.23	-0.43
Loss (Gain) From Sale of Investments	-74.49	-74.49	-15.79	-8.94	-6.33
Provision & Write-off of Bad Debts	24.2	24.2	6.13	0.37	-
Other Operating Activities	-16.87	135	171.7	6.93	2.26
Change in Accounts Receivable	-243.48	-243.48	-1,148	-323.93	-27.68
Change in Inventory	-814.72	-814.72	-681.14	-169.63	-17.67
Change in Accounts Payable	-12.32	-12.32	210.24	107.06	1.61
Change in Other Net Operating Assets	261.62	261.62	472.85	57.62	39.79
Operating Cash Flow	-1,278	-1,260	-2,148	-1,017	-665.14
Capital Expenditures	-232.39	-195.35	-393.63	-167.05	-231.68
Sale of Property, Plant & Equipment	0.97	0.94	1.23	0.02	0
Investment in Securities	-3,643	-3,188	343.8	-20	74
Other Investing Activities	76.73	73.64	15.66	9.38	7.72
Investing Cash Flow	-3,798	-3,309	-32.93	-177.65	-149.96
Short-Term Debt Issued	-	-	524.21	119.71	-
Long-Term Debt Issued	-	-	1,743	-	-
Total Debt Issued	-	-	2,267	119.71	-
Short-Term Debt Repaid	-	-494.21	-149.71	-	-
Long-Term Debt Repaid	-	-24.61	-25.18	-	-
Total Debt Repaid	-400.82	-518.82	-174.88	-	-
Net Debt Issued (Repaid)	-400.82	-518.82	2,092	119.71	-
Issuance of Common Stock	3,931	10,812	904.7	1,100	731.86
Common Dividends Paid	-4.8	-8.15	-7.68	-0.7	-0.13
Other Financing Activities	-29.59	-16.49	-	-22.13	-27.7
Financing Cash Flow	3,495	10,268	2,989	1,197	704.03
Foreign Exchange Rate Adjustments	-2.17	-1.85	-18.85	0.84	0.09
Net Cash Flow	-1,583	5,697	789.1	2.84	-110.99
Free Cash Flow	-1,511	-1,455	-2,542	-1,184	-896.82
Free Cash Flow Margin	-80.12%	-88.52%	-342.05%	-2233.77%	-210324.60%
Free Cash Flow Per Share	-4.22	-4.50	-12.65	-	-
Cash Income Tax Paid	25.84	25.01	18.58	-27.43	0.23
Levered Free Cash Flow	-	-595.88	-2,084	-944.66	-
Unlevered Free Cash Flow	-	-589.49	-2,077	-942.69	-
Change in Working Capital	-808.45	-808.45	-1,147	-328.91	-4.15

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