Annual Report 2025

舜宇光學科技（集團）有限公司 • 2025 年報 25 Management Discussion and Analysis 管理層討論與分析 投資活動 截至二零二五年十二月三十一日止年度， 本 集 團 投 資 活 動 所 用 現 金 淨 額 約 人 民 幣 999,400,000 元，主要包括收購及解除非上市 金融產品分別約人民幣 38,296,600,000 元及約 人民幣 41,090,800,000 元以及資本開支約人民 幣 2,931,000,000 元。 融資活動 截至二零二五年十二月三十一日止年度， 本 集 團 融 資 活 動 所 用 現 金 淨 額 約 人 民 幣 2,093,500,000 元，現金流出主要是支付票據 融資款項約人民幣 12,967,900,000 元及償還 銀行借貸約人民幣 7,989,600,000 元；而現 金流入主要來自票據融資所得款項約人民幣 11,254,500,000 元及新增銀行借貸約人民幣 8,702,300,000 元。 資本開支 截至二零二五年十二月三十一日止年度，本集 團的資本開支約人民幣 2,931,000,000 元，主 要用作購置物業、機器及設備。所有資本開支 均以內部資源撥付。 Investing Activities For the year ended 31 December 2025, the Group recorded a net cash used in investing activities of approximately RMB999.4 million, which mainly included purchases and release of unlisted financial products of approximately RMB38,296.6 million and approximately RMB41,090.8 million respectively, and capital expenditure amounting to approximately RMB2,931.0 million. Financing Activities For the year ended 31 December 2025, the Group recorded a net cash used in financing activities of approximately RMB2,093.5 million. The cash outflows mainly included the payments for notes financing of approximately RMB12,967.9 million and the repayment of bank borrowings of approximately RMB7,989.6 million, while the cash inflows mainly came from proceeds from notes financing of approximately RMB11,254.5 million and new bank borrowings raised of approximately RMB8,702.3 million. Capital Expenditure For the year ended 31 December 2025, the Group’s capital expenditure amounted to approximately RMB2,931.0 million, which was mainly used for the purchases of property, plant and equipment. All of the capital expenditure was financed by internal resources.