First Tractor Company 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	859.84	922.02	997.02	681.05	438.21
Depreciation & Amortization	313.66	296.62	315.53	325.52	338.96
Other Amortization	22.6	36.57	25.01	24.26	19.35
Loss (Gain) From Sale of Assets	-1.14	-5.49	-1.56	-1.63	-0.06
Asset Writedown & Restructuring Costs	-46.88	10.75	6.45	23.6	2.22
Loss (Gain) From Sale of Investments	-182.69	-199.74	-169.91	224.98	-118.7
Provision & Write-off of Bad Debts	-	18.75	6.62	114.9	213.31
Other Operating Activities	26.04	22.96	28.54	2.15	50.3
Change in Accounts Receivable	-223.7	-104.77	40	1,680	530.04
Change in Inventory	212.02	140.54	-333.26	468.5	-303.37
Change in Accounts Payable	-70.41	71.26	155.57	150.52	-609.72
Operating Cash Flow	915.72	1,216	1,056	3,602	582.28
Operating Cash Flow Growth	-24.70%	15.13%	-70.68%	518.60%	-53.37%
Capital Expenditures	-192.93	-111.97	-89.1	-94.19	-67.85
Sale of Property, Plant & Equipment	5.08	8.49	4.64	7.11	20.82
Cash Acquisitions	-	124.7	-	-	-
Divestitures	-	-	-0.46	21.76	-0.13
Investment in Securities	-1,032	-1,385	-1,958	-2,059	303.61
Other Investing Activities	139.79	40.76	33.45	27.88	16.11
Investing Cash Flow	-1,080	-1,323	-2,010	-2,096	272.58
Long-Term Debt Issued	359.55	65.95	300	709.88	490
Long-Term Debt Repaid	-200.83	-23.16	-370.12	-789.88	-1,058
Net Debt Issued (Repaid)	158.72	42.79	-70.12	-80	-568.07
Issuance of Common Stock	-	-	-	-	698
Common Dividends Paid	-419.16	-365.51	-268.56	-145.81	-106.3
Other Financing Activities	-26.43	-13.45	-7.66	85.29	-143.54
Financing Cash Flow	-286.87	-336.17	-346.34	-140.53	-119.91
Foreign Exchange Rate Adjustments	-0.32	4.93	3.45	7.34	-5
Net Cash Flow	-451.15	-438.56	-1,296	1,373	729.94
Free Cash Flow	722.79	1,104	967.16	3,508	514.43
Free Cash Flow Growth	-34.54%	14.16%	-72.43%	581.88%	-55.94%
Free Cash Flow Margin	6.68%	9.28%	8.38%	27.92%	5.51%
Free Cash Flow Per Share	0.64	0.98	0.86	3.12	0.46
Cash Interest Paid	-	-	0.84	15.91	23.97
Cash Income Tax Paid	-15.21	24.77	-21.24	-99.72	20.8
Levered Free Cash Flow	-2,464	1,086	437.17	2,305	1,162
Unlevered Free Cash Flow	-2,464	1,090	454.16	2,326	1,193
Change in Working Capital	-75.72	113.67	-147.17	2,234	-377.14

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