Carpenter Tan Holdings 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	171.03	171.37	173.73	107.25	107.66
Depreciation & Amortization	10.64	10.13	10.11	8.25	9.65
Loss (Gain) From Sale of Assets	0.02	0.33	0.04	0.1	0.33
Asset Writedown & Restructuring Costs	27.03	7.47	5.55	2.02	2.1
Loss (Gain) From Sale of Investments	-0.67	-0.82	-0.88	-8.38	-8.58
Stock-Based Compensation	-	-	-	-	0.14
Provision & Write-off of Bad Debts	0.01	0.02	-0.01	-0.04	-0.01
Other Operating Activities	3.62	3.82	1.39	8.83	-1.89
Change in Accounts Receivable	-0.59	-0.37	-1.45	-0.41	-1.18
Change in Inventory	-18	-47.21	-5.78	-51.12	-40.42
Change in Accounts Payable	2.59	2.65	2.09	2.32	-1.67
Change in Other Net Operating Assets	-18.23	-1.01	4.86	-1.37	0.01
Operating Cash Flow	177.45	146.39	189.66	67.46	66.15
Operating Cash Flow Growth	21.22%	-22.82%	181.16%	1.98%	-17.94%
Capital Expenditures	-18.78	-33.08	-21.06	-18.29	-21.79
Sale of Property, Plant & Equipment	0.03	0.05	-	0.06	0.02
Investment in Securities	-22.21	-39.98	-71.41	35.25	-45.01
Other Investing Activities	-	-	3	-3	-
Investing Cash Flow	-40.95	-73.01	-89.46	14.02	-66.78
Long-Term Debt Repaid	-13.21	-2.43	-2.41	-2.33	-4.27
Total Debt Repaid	-13.21	-2.43	-2.41	-2.33	-4.27
Net Debt Issued (Repaid)	-13.21	-2.43	-2.41	-2.33	-4.27
Common Dividends Paid	-89.57	-90	-56.88	-82.72	-40.54
Other Financing Activities	-0.66	-5.06	-0.58	-0.63	-15.2
Financing Cash Flow	-103.44	-97.49	-59.87	-85.68	-60
Foreign Exchange Rate Adjustments	4.97	-1.56	-0.11	-4.43	0.65
Net Cash Flow	38.03	-25.67	40.22	-8.64	-59.98
Free Cash Flow	158.68	113.31	168.6	49.17	44.36
Free Cash Flow Growth	40.04%	-32.80%	242.89%	10.86%	-41.67%
Free Cash Flow Margin	28.43%	22.42%	33.74%	14.13%	13.40%
Free Cash Flow Per Share	0.64	0.46	0.68	0.20	0.18
Cash Interest Paid	0.66	0.61	0.58	0.63	0.33
Cash Income Tax Paid	39.89	33.37	33.99	16.5	26.11
Levered Free Cash Flow	97.2	65.66	126.57	24.5	19.28
Unlevered Free Cash Flow	97.62	66.05	126.93	24.89	19.49
Change in Working Capital	-34.23	-45.94	-0.28	-50.58	-43.25

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