Tianli Holdings Group Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-153.37	-222.15	-63.85	68.82
Depreciation & Amortization	84.47	72.39	73.01	76.79
Other Amortization	0.2	0.36	0.56	0.92
Loss (Gain) From Sale of Assets	3.84	2.88	-2.63	0.66
Asset Writedown & Restructuring Costs	32.13	80.69	-	-
Loss (Gain) From Sale of Investments	-9.54	3.19	33.7	-55.15
Loss (Gain) on Equity Investments	-	-	-20.89	-18.9
Provision & Write-off of Bad Debts	-0.04	0	0	1.1
Other Operating Activities	95.24	92.69	-36.62	17.33
Change in Accounts Receivable	-66.5	-83.09	-82.76	-9.13
Change in Inventory	-70.87	-33.56	59.76	-83.31
Change in Accounts Payable	32.09	55.28	-8.21	-2.59
Change in Unearned Revenue	0.94	16.96	-4.17	19.03
Change in Other Net Operating Assets	-0.68	9.86	32.19	-3.08
Operating Cash Flow	-52.09	-4.51	-19.92	12.47
Operating Cash Flow Growth	-	-	-	-18.25%
Capital Expenditures	-139.17	-329.85	-328.32	-167.77
Sale of Property, Plant & Equipment	5	9.2	0.04	-
Divestitures	-	-	11.74	-
Sale (Purchase) of Intangibles	-0.01	-0.35	-0.19	-0.44
Investment in Securities	-	-	12.71	19.49
Other Investing Activities	7.84	-11.56	58.88	-
Investing Cash Flow	-126.34	-332.56	-245.14	-148.71
Short-Term Debt Issued	105.51	185.35	133.99	-
Long-Term Debt Issued	297.54	339.67	325.6	177.4
Total Debt Issued	403.05	525.02	459.59	177.4
Short-Term Debt Repaid	-113.86	-160.68	-85.45	-
Long-Term Debt Repaid	-49.33	-29.39	-83.82	-30.16
Total Debt Repaid	-163.19	-190.07	-169.26	-30.16
Net Debt Issued (Repaid)	239.86	334.95	290.33	147.24
Other Financing Activities	-29.97	-27.78	-23.2	-13.37
Financing Cash Flow	209.89	307.18	267.12	133.87
Foreign Exchange Rate Adjustments	-0.43	0.1	-2.46	4.94
Net Cash Flow	31.03	-29.8	-0.4	2.57
Free Cash Flow	-191.26	-334.36	-348.23	-155.29
Free Cash Flow Margin	-34.90%	-68.51%	-96.36%	-28.31%
Free Cash Flow Per Share	-0.26	-0.45	-0.47	-0.21
Cash Interest Paid	29.97	25.47	22.06	3.23
Cash Income Tax Paid	6.59	3.87	3.75	2.43
Levered Free Cash Flow	-117.54	-368.75	-379.76	-112.33
Unlevered Free Cash Flow	-82.2	-347.36	-364.49	-98.37
Change in Working Capital	-105.01	-34.56	-3.2	-79.08

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