Shennan Circuits 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	3,276	1,878	1,398	1,641	1,481
Depreciation & Amortization	1,613	1,456	1,228	1,021	812.59
Other Amortization	66.51	54.6	59.04	58.51	50.13
Loss (Gain) From Sale of Assets	5.16	-0.38	2.25	0.73	-0.5
Asset Writedown & Restructuring Costs	76.16	23.21	12.95	8.84	20.97
Loss (Gain) From Sale of Investments	-3.45	-6.83	-4.61	-26.7	-9.99
Provision & Write-off of Bad Debts	86.85	46.15	32.11	25.76	40.27
Other Operating Activities	272.41	223.9	208.76	224.32	240.73
Change in Accounts Receivable	-1,694	-1,486	-446.83	41.43	-1,101
Change in Inventory	-1,962	-881.28	-488.15	26.27	-359.77
Change in Accounts Payable	2,108	1,572	645.41	26.84	1,116
Change in Other Net Operating Assets	57.57	99.45	15.92	48	69.59
Operating Cash Flow	3,838	2,982	2,589	3,180	2,342
Operating Cash Flow Growth	28.71%	15.18%	-18.57%	35.78%	30.10%
Capital Expenditures	-3,765	-2,526	-3,250	-3,378	-2,658
Sale of Property, Plant & Equipment	5.88	3.45	2.2	5.74	4.87
Investment in Securities	1.01	600.32	-303.01	-246.68	163.22
Other Investing Activities	2.88	-2.36	-10.57	4.27	9.69
Investing Cash Flow	-3,756	-1,925	-3,561	-3,614	-2,481
Long-Term Debt Issued	951.1	914.46	2,528	678.71	1,706
Short-Term Debt Repaid	-	-	-601.8	-16.06	-13.42
Long-Term Debt Repaid	-756.09	-791.8	-1,428	-937.98	-1,186
Total Debt Repaid	-756.09	-791.8	-2,030	-954.04	-1,199
Net Debt Issued (Repaid)	195.01	122.65	497.79	-275.33	506.18
Issuance of Common Stock	-	-	-	2,530	-
Repurchase of Common Stock	-	-	-	-0.08	-3.84
Common Dividends Paid	-844.78	-542.92	-589.07	-564.79	-541.43
Other Financing Activities	0.25	31.52	1.97	7.15	299.85
Financing Cash Flow	-649.52	-388.75	-89.31	1,697	260.77
Foreign Exchange Rate Adjustments	11.97	32.21	-0.23	29.9	-6.84
Net Cash Flow	-554.87	700.63	-1,061	1,292	115.18
Free Cash Flow	72.91	455.76	-660.41	-197.91	-316.51
Free Cash Flow Growth	-84.00%	-	-	-	-
Free Cash Flow Margin	0.31%	2.54%	-4.88%	-1.41%	-2.27%
Free Cash Flow Per Share	0.11	0.68	-0.99	-0.30	-0.49
Cash Income Tax Paid	-307.18	211.48	179.14	-124.19	-6.73
Levered Free Cash Flow	-833.74	-900.59	-1,718	-919.44	-1,509
Unlevered Free Cash Flow	-785.24	-850.59	-1,677	-861.93	-1,452
Change in Working Capital	-1,554	-692.3	-347.91	226.53	-293.03

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.