Royale Home 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	-334.39	-381.54	4.67	62.65
Depreciation & Amortization	67.3	137.54	117.08	89.79
Loss (Gain) From Sale of Assets	-2.79	-0.52	-0.1	-0.58
Asset Writedown & Restructuring Costs	49.67	2.76	-39.98	-72.92
Loss (Gain) From Sale of Investments	-1.98	-18.49	-7.78	8.34
Loss (Gain) on Equity Investments	16.3	32.93	-2.05	10.55
Provision & Write-off of Bad Debts	-	-	-	6.18
Other Operating Activities	119.77	63	-56.25	71.37
Change in Accounts Receivable	-53.14	-39.16	-61.96	-126.12
Change in Inventory	-0	-57.59	-8.02	36.83
Change in Accounts Payable	-14.86	150.8	35.68	1.67
Change in Other Net Operating Assets	-86.16	77.72	-106.72	-73.97
Operating Cash Flow	-240.28	-32.54	-125.42	13.77
Operating Cash Flow Growth	-	-	-	-92.00%
Capital Expenditures	-0.33	-24.27	-120.54	-81.36
Sale of Property, Plant & Equipment	-	0.22	0.08	10.54
Cash Acquisitions	-	40	-93.22	-
Sale (Purchase) of Intangibles	-1.82	-0.56	-	-
Investment in Securities	-23.94	-166.47	-62.8	-1,380
Other Investing Activities	27.96	-31.28	28.49	1,111
Investing Cash Flow	1.88	-182.36	-247.99	-340.13
Short-Term Debt Issued	899.77	97.86	145.65	-
Long-Term Debt Issued	1,024	1,693	1,649	2,344
Total Debt Issued	1,924	1,791	1,794	2,344
Short-Term Debt Repaid	-44.77	-97.17	-77.82	-284.19
Long-Term Debt Repaid	-1,725	-1,627	-1,348	-678.44
Total Debt Repaid	-1,770	-1,724	-1,426	-962.63
Net Debt Issued (Repaid)	154.36	66.78	368.2	1,382
Repurchase of Common Stock	-	-10.69	-3.94	-181.6
Common Dividends Paid	-	-23.49	-111.47	-211.7
Other Financing Activities	68.69	-149.11	352.32	-737.09
Financing Cash Flow	223.05	-116.52	605.12	251.28
Foreign Exchange Rate Adjustments	6.53	3.85	5.64	1.36
Net Cash Flow	-8.82	-327.56	237.35	-73.71
Free Cash Flow	-240.61	-56.81	-245.96	-67.59
Free Cash Flow Margin	-45.78%	-6.86%	-16.83%	-5.44%
Free Cash Flow Per Share	-0.10	-0.02	-0.10	-0.03
Cash Interest Paid	158.58	133.22	96.77	83.91
Cash Income Tax Paid	2.54	18.19	9.27	-
Levered Free Cash Flow	-168.38	-355.37	446.78	-400.68
Unlevered Free Cash Flow	-61.09	-264.95	521.65	-337.78
Change in Working Capital	-154.16	131.77	-141.02	-161.59

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