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Consolidated Statement of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2024
CNY (¥)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
Dec. 31, 2022
CNY (¥)
Operating activities        
Profit before tax ¥ 620,540,000 $ 86,501 ¥ 571,352,000 ¥ 394,726,000
Adjustments:        
Amortization of intangible asset 201,420,000 28,077 109,913,000 64,939,000
Bad debt written off 21,522,000 3,000 0 0
Cost of share-based payments 7,829,000 1,091 0 0
Depreciation of investment property 361,000 50 355,000 348,000
Depreciation of property, plant and equipment 462,588,000 64,483 508,726,000 516,276,000
Depreciation of right-of-use assets 50,461,000 7,034 46,071,000 43,129,000
Dividend income from quoted equity securities 0 0 0 (13,000)
Exchange (gain)/loss 3,091,000 431 (2,260,000) (273,000)
Finance costs 77,982,000 10,870 100,175,000 95,472,000
(Gain)/loss on disposal of:        
- associate 0 0 0 (1,329,000)
- property, plant and equipment 59,000 8 (778,000) (6,535,000)
- quoted equity securities 0 0 0 (2,291,000)
- right-of-use assets 0 0 (7,632,000) (3,929,000)
- subsidiary 0 0 (113,042,000) 0
Government grants (339,934,000) (47,385) (171,937,000) (176,264,000)
Interest income (133,640,000) (18,629) (154,129,000) (131,879,000)
Impairment losses/(reversal of impairment losses) on:        
- development cost 31,130,000 4,339 0 0
- investment in joint venture 0 0 0 990,000
- property, plant and equipment 7,332,000 1,022 44,667,000 17,278,000
- trade and non-trade receivables 185,523,000 25,861 23,858,000 (459,000)
- inventories, net 58,768,000 8,192 50,019,000 54,885,000
Loss on liquidation of joint venture 399,000 56 0 0
Loss on liquidation of subsidiary 5,000 1 0 0
Property, plant and equipment written off 232,000 32 1,731,000 3,295,000
Provision for warranties 626,255,000 87,298 414,021,000 317,076,000
Reversal of provision for onerous contract, net 0 0 0 (4,829,000)
Share of results of associates and joint ventures, net of tax (101,548,000) (14,155) (62,078,000) 29,093,000
Profit before tax after adjustments 1,780,375,000 248,177 1,359,032,000 1,209,706,000
Changes in working capital        
Inventories (67,585,000) (9,421) 221,930,000 185,879,000
Trade and other receivables, and capitalized contract cost (1,250,843,000) (174,363) (959,703,000) (7,411,000)
Trade and other payables, and contract liabilities 924,676,000 128,896 1,090,875,000 (1,141,397,000)
Development properties (38,000) (5) (281,000) (25,000)
Provision utilized (493,770,000) (68,830) (375,910,000) (345,161,000)
Cash flows (used in)/from operations 892,815,000 124,454 1,335,943,000 (98,409,000)
Income taxes paid (113,399,000) (15,807) (109,905,000) (21,010,000)
Net cash flows (used in)/from operating activities 779,416,000 108,647 1,226,038,000 (119,419,000)
Investing activities        
Additional investment in a joint venture 0 0 (6,500,000) (1,950,000)
Development costs (185,043,000) (25,794) (169,591,000) (166,283,000)
Dividend received from:        
- joint venture 0 0 2,795,000 0
- quoted equity securities 0 0 0 47,000
Interest received 139,190,000 19,403 155,179,000 131,331,000
Net cash inflow/(outflow) from disposal of:        
- associate  0 0 1,000,000 1,000,000
- property, plant and equipment 105,000 15 643,000 9,232,000
- quoted equity securities 0 0 0 641,000
- right-of-use assets 0 0 0 7,185,000
- subsidiary, net of cash disposed 217,577,000 30,329 (32,056,000) 0
Proceeds from government grants 228,755,000 31,888 257,449,000 193,156,000
Proceeds from liquidation of joint venture 1,724,000 240 0 0
Purchase of property, plant and equipment (360,193,000) (50,210) (237,842,000) (430,966,000)
Withdrawal/(placement) of fixed deposits with banks, net 70,986,000 9,895 (84,333,000) 123,559,000
Net cash flows (used in)/from investing activities 113,101,000 15,766 (113,256,000) (133,048,000)
Dividends paid to:        
- equity holders of the Company (101,647,000) (14,169) (80,238,000) (109,684,000)
- non-controlling interests (76,122,000) (10,611) (35,008,000) (102,299,000)
Interest paid and discounting on bills (75,120,000) (10,471) (96,254,000) (95,717,000)
Acquisition of non-controlling interests (750,000) (105) 0 0
Contribution by non-controlling interests 83,097,000 11,583 20,000,000 53,500,000
Payment of principal portion of lease liabilities (40,038,000) (5,581) (41,104,000) (24,597,000)
Purchase of treasury shares (285,600,000) (39,800) 0 0
Proceeds from borrowings 2,021,800,000 281,831 3,240,294,000 2,048,432,000
Repayment of borrowings (2,052,294,000) (286,082) (3,041,432,000) (1,910,000,000)
Net cash flows used in financing activities (526,635,000) (73,411) (33,742,000) (140,365,000)
Net (decrease)/increase in cash and cash equivalents 365,882,000 51,002 1,079,040,000 (392,832,000)
Cash and cash equivalents at January 1 5,544,376,000 772,865 4,451,489,000 4,788,219,000
Effect of exchange rate changes on balances in foreign currencies 5,658,000 789 13,847,000 56,102,000
Cash and cash equivalents at December 31 ¥ 5,915,916,000 $ 824,656 ¥ 5,544,376,000 ¥ 4,451,489,000