Future Machine 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	41.42	16.34	32.37	6.51	-17.75
Depreciation & Amortization	25.48	27.09	32.61	34.87	34.2
Other Amortization	1.25	2.31	2.32	2.24	0.93
Loss (Gain) From Sale of Assets	0.01	0.01	0.93	2.14	-0.28
Asset Writedown & Restructuring Costs	-	-	-	-	0.02
Loss (Gain) From Sale of Investments	2.9	-	-	-	-
Provision & Write-off of Bad Debts	-7.02	8.42	3.36	-0.08	-2.42
Other Operating Activities	-0.84	-14.38	12.43	0.23	-7.81
Change in Accounts Receivable	-412.75	215.01	-618.4	31.47	116.22
Change in Inventory	-78.29	51.68	-190.15	93.88	38.71
Change in Accounts Payable	200.36	-280.81	701.39	416.5	-67.81
Change in Unearned Revenue	53.57	-9.59	1.97	-40.12	-23.72
Change in Other Net Operating Assets	-56.2	-43.2	78.04	8.23	-48.93
Operating Cash Flow	-230.62	-27.12	56.86	555.86	21.35
Operating Cash Flow Growth	-	-	-89.77%	2503.42%	-
Capital Expenditures	-17.09	-17.64	-7.02	-8.5	-3.12
Cash Acquisitions	-	-	-	-18.28	-
Divestitures	-	-	14.39	-	-
Sale (Purchase) of Intangibles	-4.19	-0.93	-0.89	-0.78	-4.01
Investment in Securities	-36.13	-	-	-	-
Other Investing Activities	15.53	278.72	-1,594	-540.3	60.52
Investing Cash Flow	-41.88	260.15	-1,587	-567.85	53.39
Long-Term Debt Issued	493.1	171.03	1,974	239.72	284.46
Long-Term Debt Repaid	-245.97	-357.12	-374.76	-258.1	-292.96
Net Debt Issued (Repaid)	247.13	-186.09	1,600	-18.37	-8.5
Issuance of Common Stock	127.86	-	-	-	-
Other Financing Activities	-28.68	-36.19	-36.28	-17.56	-8.85
Financing Cash Flow	346.3	-222.28	1,563	-35.94	-17.35
Foreign Exchange Rate Adjustments	0.14	0.67	-1.57	1.66	-0.81
Net Cash Flow	73.95	11.41	31.32	-46.27	56.58
Free Cash Flow	-247.71	-44.76	49.85	547.36	18.23
Free Cash Flow Growth	-	-	-90.89%	2902.69%	-
Free Cash Flow Margin	-5.69%	-1.53%	1.77%	37.74%	0.91%
Free Cash Flow Per Share	-0.19	-0.04	0.05	0.55	0.02
Cash Interest Paid	27.49	36.19	36.28	18.26	6.47
Cash Income Tax Paid	9.27	8.83	10.11	2.64	2.71
Levered Free Cash Flow	-1.05	-21.33	-93.7	-40.22	49.61
Unlevered Free Cash Flow	16.13	1.29	-71.02	-28.8	53.66
Change in Working Capital	-293.83	-66.91	-27.15	509.95	14.47

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