Leader Education Cash Flow Statement

Financials in millions CNY. Fiscal year is September - August.

Millions CNY. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021
Net Income	-73.91	19.96	57.6	56.03	52.01
Depreciation & Amortization	93.08	58.96	49.89	40.03	35.64
Other Amortization	0.97	1.74	1.35	1.73	1.9
Loss (Gain) From Sale of Assets	0.1	-0.77	0.21	-0.52	-
Loss (Gain) on Equity Investments	0	0.01	0.12	-	-
Other Operating Activities	111.91	62.34	6.91	6.98	15.67
Change in Accounts Receivable	-0.49	-0.57	-	-	-
Change in Unearned Revenue	19.72	35.81	72.98	50.47	67.26
Change in Other Net Operating Assets	-2.78	4.08	29.88	-22.46	-0.1
Operating Cash Flow	148.59	181.56	218.94	132.27	172.38
Operating Cash Flow Growth	-18.16%	-17.07%	65.52%	-23.27%	441.28%
Capital Expenditures	-141.94	-159.96	-131.94	-103.77	-201.48
Sale of Property, Plant & Equipment	-	-	0.12	-	-
Sale (Purchase) of Intangibles	-	-1.56	-1.6	-2.17	-1.47
Investment in Securities	-	-	-3.5	0.52	-
Other Investing Activities	-89	-156.27	-1.46	-3.53	-
Investing Cash Flow	-230.94	-317.79	-138.38	-108.94	-202.96
Long-Term Debt Issued	801.89	728.91	328.04	415.3	113.71
Total Debt Issued	801.89	728.91	328.04	415.3	113.71
Long-Term Debt Repaid	-723.62	-457.86	-275.14	-454.58	-78.99
Total Debt Repaid	-723.62	-457.86	-275.14	-454.58	-78.99
Net Debt Issued (Repaid)	78.28	271.06	52.9	-39.28	34.72
Common Dividends Paid	-	-	-63.96	-	-
Other Financing Activities	-65.64	-59.85	-54.49	-43.37	-33.87
Financing Cash Flow	12.63	211.21	-65.55	-82.65	0.85
Foreign Exchange Rate Adjustments	0.12	-0.32	2.69	8.47	-3.9
Net Cash Flow	-69.6	74.66	17.69	-50.85	-33.62
Free Cash Flow	6.64	21.6	87	28.51	-29.1
Free Cash Flow Growth	-69.25%	-75.17%	205.17%	-	-
Free Cash Flow Margin	1.93%	6.69%	31.55%	11.96%	-14.84%
Free Cash Flow Per Share	0.01	0.03	0.13	0.04	-0.04
Cash Interest Paid	65.64	57.27	38.64	40.27	30.07
Cash Income Tax Paid	26.26	-	-	-	-
Levered Free Cash Flow	-27.34	-60.14	26.87	-8.69	-50.29
Unlevered Free Cash Flow	12.16	-21.25	31.2	-4.33	-41.93
Change in Working Capital	16.45	39.32	102.86	28.02	67.16

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