Zhejiang Shibao 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	180.52	149.12	77.2	15.82	34.16
Depreciation & Amortization	91.74	92.94	91.19	82.87	82.51
Other Amortization	4.22	-	-	-	-
Loss (Gain) From Sale of Assets	-6.36	1.92	0.47	-5.11	1.45
Asset Writedown & Restructuring Costs	12.19	13.59	2	0.07	0.02
Loss (Gain) From Sale of Investments	-2.21	-5.5	-1.22	-0.66	-7.48
Provision & Write-off of Bad Debts	25.63	13.63	-2.76	1.59	-0.15
Other Operating Activities	65.85	78.3	27.59	27.95	12.72
Change in Accounts Receivable	-461.4	-501.3	-334.91	-163.47	15.04
Change in Inventory	-53.57	-79.8	-81.4	-109.91	-90.68
Change in Accounts Payable	393.34	255.18	225.9	261.35	-2.17
Change in Other Net Operating Assets	-	-	-	-	-6.78
Operating Cash Flow	234.24	1.17	3.2	110.87	39.63
Operating Cash Flow Growth	19982.66%	-63.51%	-97.12%	179.76%	-58.59%
Capital Expenditures	-214.17	-101.29	-63.57	-77.33	-78.06
Sale of Property, Plant & Equipment	11.96	2.41	0.96	9.06	38.33
Investment in Securities	82.49	-8	8.16	-50.4	-61.82
Other Investing Activities	1.74	4.09	4.03	1.52	-
Investing Cash Flow	-117.97	-102.79	-50.42	-117.14	-101.55
Long-Term Debt Issued	117.97	164.4	172.7	225	191
Short-Term Debt Repaid	-89.6	-290.84	-	-	-
Long-Term Debt Repaid	-1.92	-	-153.14	-200	-126.04
Total Debt Repaid	-91.52	-290.84	-153.14	-200	-126.04
Net Debt Issued (Repaid)	26.45	-126.44	19.56	25	64.96
Issuance of Common Stock	-	346.5	-	-	-
Common Dividends Paid	-51.38	-24.32	-7.27	-4.88	-4.47
Other Financing Activities	-	-0.97	-1.13	-0.63	-
Financing Cash Flow	-24.94	194.77	11.16	19.49	60.5
Foreign Exchange Rate Adjustments	-0.15	-0.01	0.25	-0.19	-1.02
Net Cash Flow	91.18	93.14	-35.81	13.03	-2.44
Free Cash Flow	20.07	-100.12	-60.37	33.54	-38.43
Free Cash Flow Margin	0.57%	-3.72%	-3.32%	2.42%	-3.26%
Free Cash Flow Per Share	0.02	-0.12	-0.08	0.04	-0.04
Cash Income Tax Paid	104.7	48.88	33.35	15.56	12.55
Levered Free Cash Flow	8.72	-37.96	-125.41	63.03	3.97
Unlevered Free Cash Flow	10.16	-35.38	-120.86	66.37	7.02
Change in Working Capital	-137.34	-342.84	-191.28	-11.66	-83.6

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