Times China 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	-16,610	-4,507	-9,863	3,260
Depreciation & Amortization	124.47	160.24	172.93	158.18
Loss (Gain) From Sale of Assets	1,277	17.84	405.47	1.02
Asset Writedown & Restructuring Costs	1,341	-120.72	139.38	219.54
Loss (Gain) From Sale of Investments	2,725	2,345	5,628	121.08
Loss (Gain) on Equity Investments	1,184	-414.87	616.64	-346.03
Provision & Write-off of Bad Debts	46.27	88.14	1,242	112.66
Other Operating Activities	5,741	1,790	-1,157	571.23
Change in Accounts Receivable	69.8	267.43	3,281	1,099
Change in Inventory	17,190	16,781	11,794	-1,616
Change in Accounts Payable	-2,176	-4,800	-5,499	-2,318
Change in Unearned Revenue	-10,530	-11,987	-4,763	2,464
Change in Other Net Operating Assets	957.49	4,629	-2,508	-3,598
Operating Cash Flow	1,340	4,248	-510.64	128.97
Operating Cash Flow Growth	-68.47%	-	-	-90.14%
Capital Expenditures	-3.16	-3.6	-8.79	-13.98
Sale of Property, Plant & Equipment	1.11	2.54	0.69	0.25
Cash Acquisitions	24.31	-	-	1,001
Divestitures	-441.92	-	244.91	-
Sale (Purchase) of Intangibles	-1.87	-22.46	-26.89	-36.1
Sale (Purchase) of Real Estate	-62.21	-46.62	600.8	-1,234
Investment in Securities	16.36	126.59	727.01	-3,994
Other Investing Activities	-	-	37.02	-8,641
Investing Cash Flow	-467.37	56.45	1,575	-12,918
Short-Term Debt Issued	-	-	470	1,641
Long-Term Debt Issued	-	300.6	1,567	20,141
Total Debt Issued	-	300.6	2,037	21,782
Long-Term Debt Repaid	-1,755	-5,442	-10,526	-27,415
Total Debt Repaid	-1,755	-5,442	-10,526	-27,415
Net Debt Issued (Repaid)	-1,755	-5,141	-8,489	-5,632
Issuance of Common Stock	-	-	320.66	-
Repurchase of Common Stock	-	-	-	-50.42
Common Dividends Paid	-	-	-	-1,054
Other Financing Activities	-9.27	-169.06	-4,877	745.31
Financing Cash Flow	-1,765	-5,311	-13,045	-5,992
Foreign Exchange Rate Adjustments	0.1	0.12	1.28	-32.39
Net Cash Flow	-892.37	-1,006	-11,980	-18,813
Free Cash Flow	1,336	4,245	-519.43	115
Free Cash Flow Growth	-68.52%	-	-	-90.24%
Free Cash Flow Margin	10.19%	20.20%	-2.13%	0.26%
Free Cash Flow Per Share	0.64	2.02	-0.25	0.06
Cash Interest Paid	804.87	1,513	3,277	4,130
Cash Income Tax Paid	154.33	853.9	1,440	2,598
Levered Free Cash Flow	1,786	8,033	-832.93	4,524
Unlevered Free Cash Flow	3,132	8,814	-307.8	5,040
Change in Working Capital	5,511	4,890	2,305	-3,969

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