7Road Holdings 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	-73.45	-146.46	282.5	94.24
Depreciation & Amortization	47.73	189.35	184.33	124.53
Other Amortization	0.37	0.37	0.37	0.45
Loss (Gain) From Sale of Assets	-9.56	0.05	-19.46	-8.43
Asset Writedown & Restructuring Costs	-	94.97	-	-
Loss (Gain) From Sale of Investments	47.38	119.75	-319.43	-7.93
Loss (Gain) on Equity Investments	1.67	0.59	3.81	-54.85
Stock-Based Compensation	-	-	-	0.2
Other Operating Activities	17.03	168.58	18.55	25.5
Change in Accounts Receivable	37.74	135.14	-190.84	1.44
Change in Inventory	-	-	-	-2.02
Change in Accounts Payable	-12.64	-131.2	171.33	-16.2
Change in Unearned Revenue	-6.3	-38.26	53.17	18.14
Change in Other Net Operating Assets	5.53	0.64	-	-
Operating Cash Flow	56.77	245.4	196.01	175.13
Operating Cash Flow Growth	-76.87%	25.20%	11.92%	69.21%
Capital Expenditures	-9.4	-3.94	-130.67	-419.42
Sale of Property, Plant & Equipment	0.63	0.57	-	80
Cash Acquisitions	-	-0.08	-133.17	-201.59
Divestitures	14.81	43	49.78	17.09
Sale (Purchase) of Intangibles	-0.03	-0.13	-2.09	173.57
Investment in Securities	1.96	-248.18	-205	-9.18
Other Investing Activities	25.55	-11.04	82.81	-10.26
Investing Cash Flow	33.52	-219.8	-338.33	-369.79
Long-Term Debt Issued	15	86	220	13
Total Debt Issued	15	86	220	13
Long-Term Debt Repaid	-85.57	-144.27	-103.8	-92.85
Total Debt Repaid	-85.57	-144.27	-103.8	-92.85
Net Debt Issued (Repaid)	-70.57	-58.27	116.2	-79.85
Other Financing Activities	-6.4	-24.23	19.25	5.14
Financing Cash Flow	-76.98	-82.5	135.45	-74.71
Foreign Exchange Rate Adjustments	-0.75	0.23	3.12	0.56
Net Cash Flow	12.57	-56.66	-3.75	-268.81
Free Cash Flow	47.37	241.46	65.34	-244.29
Free Cash Flow Growth	-80.38%	269.56%	-	-
Free Cash Flow Margin	15.46%	49.79%	12.08%	-58.09%
Free Cash Flow Per Share	0.02	0.09	0.03	-0.10
Cash Interest Paid	6.16	24.72	20.82	3.13
Cash Income Tax Paid	0.07	10.23	4.59	22.72
Levered Free Cash Flow	57.93	274.09	-107.89	-75.94
Unlevered Free Cash Flow	59.1	275.22	-95.28	-74.49
Change in Working Capital	24.33	-33.67	45.36	1.41

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