Zhejiang Shibao Company Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	186.82	149.12	77.2	15.82	34.16	40.85
Depreciation & Amortization	90.32	90.32	91.19	82.87	82.51	87.49
Other Amortization	2.62	2.62	-	-	-	-
Loss (Gain) From Sale of Assets	1.92	1.92	0.47	-5.11	1.45	-0.4
Asset Writedown & Restructuring Costs	13.59	13.59	2	0.07	0.02	0.02
Loss (Gain) From Sale of Investments	-5.5	-5.5	-1.22	-0.66	-7.48	-0.2
Provision & Write-off of Bad Debts	13.63	13.63	-2.76	1.59	-0.15	-1.73
Other Operating Activities	237.39	78.3	27.59	27.95	12.72	11.01
Change in Accounts Receivable	-501.3	-501.3	-334.91	-163.47	15.04	0.86
Change in Inventory	-79.8	-79.8	-81.4	-109.91	-90.68	-49.82
Change in Accounts Payable	255.18	255.18	225.9	261.35	-2.17	9.11
Change in Other Net Operating Assets	-	-	-	-	-6.78	-
Operating Cash Flow	197.96	1.17	3.2	110.87	39.63	95.7
Operating Cash Flow Growth	942.09%	-63.51%	-97.12%	179.76%	-58.59%	140.46%
Capital Expenditures	-213.98	-101.29	-63.57	-77.33	-78.06	-93.76
Sale of Property, Plant & Equipment	12.78	2.41	0.96	9.06	38.33	4.37
Investment in Securities	41.3	-8	8.16	-50.4	-61.82	71
Other Investing Activities	5.47	4.09	4.03	1.52	-	0.24
Investing Cash Flow	-154.44	-102.79	-50.42	-117.14	-101.55	-18.16
Long-Term Debt Issued	-	164.4	172.7	225	191	225
Long-Term Debt Repaid	-	-290.84	-153.14	-200	-126.04	-270
Net Debt Issued (Repaid)	60.5	-126.44	19.56	25	64.96	-45
Issuance of Common Stock	2.41	346.5	-	-	-	-
Common Dividends Paid	-51.33	-24.32	-7.27	-4.88	-4.47	-4.25
Other Financing Activities	-1.4	-0.97	-1.13	-0.63	-	-
Financing Cash Flow	10.18	194.77	11.16	19.49	60.5	-49.25
Foreign Exchange Rate Adjustments	-0.08	-0.01	0.25	-0.19	-1.02	-0.36
Net Cash Flow	53.62	93.14	-35.81	13.03	-2.44	27.94
Free Cash Flow	-16.03	-100.12	-60.37	33.54	-38.43	1.94
Free Cash Flow Margin	-0.48%	-3.72%	-3.32%	2.42%	-3.26%	0.18%
Free Cash Flow Per Share	-0.02	-0.12	-0.08	0.04	-0.04	0.00
Cash Income Tax Paid	100.3	48.88	33.35	15.56	12.55	25.77
Levered Free Cash Flow	65.94	-37.96	-125.41	63.03	3.97	1.96
Unlevered Free Cash Flow	67.32	-35.38	-120.86	66.37	7.02	5.01
Change in Working Capital	-342.84	-342.84	-191.28	-11.66	-83.6	-41.33

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