Lvji Technology Holdings 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	58.66	81.85	145.17	37.54	-549.62
Depreciation & Amortization	155.55	116.31	71.34	38.49	94.52
Other Amortization	-0.34	1.53	7.79	0.01	0.01
Asset Writedown & Restructuring Costs	-	-	-	0.04	562.6
Loss (Gain) From Sale of Investments	-0.49	-	-	-0.76	-0.03
Stock-Based Compensation	-	-	-	51.84	-
Provision & Write-off of Bad Debts	0.94	1.81	2.52	0.2	0.29
Other Operating Activities	58.14	43.43	30.46	35.79	-4.11
Change in Accounts Receivable	-22.21	10.47	-28.23	18.79	-27.69
Change in Accounts Payable	16.16	29.46	7.57	-7.69	7.45
Change in Unearned Revenue	0.09	-0.57	-1.28	-2.81	-0.76
Change in Other Net Operating Assets	-21.63	7.96	19.9	-7.25	-0.99
Operating Cash Flow	244.87	292.24	255.23	164.17	81.68
Operating Cash Flow Growth	-16.21%	14.50%	55.46%	101.00%	108.14%
Capital Expenditures	-0.12	-	-	-	-0.73
Sale of Property, Plant & Equipment	-	-	-	-	0.57
Sale (Purchase) of Intangibles	-397.44	-409.31	-374.35	-239.26	-224.53
Investment in Securities	-0.65	-44.15	-	35.86	-20.07
Other Investing Activities	0.05	148.51	-143.62	2.47	11.18
Investing Cash Flow	-398.16	-304.95	-517.97	-200.92	-233.59
Short-Term Debt Issued	37.8	95.56	-	-	-
Long-Term Debt Issued	-	7.44	-	-	-
Total Debt Issued	37.8	103	-	-	-
Short-Term Debt Repaid	-54.08	-5.08	-	-	-
Long-Term Debt Repaid	-1.23	-2.44	-2.34	-2.63	-2.91
Total Debt Repaid	-55.31	-7.52	-2.34	-2.63	-2.91
Net Debt Issued (Repaid)	-17.51	95.48	-2.34	-2.63	-2.91
Issuance of Common Stock	153.96	14.55	69.57	-	-
Other Financing Activities	-9.69	-2.91	-	-	-
Financing Cash Flow	126.77	107.12	67.23	-2.63	-2.91
Foreign Exchange Rate Adjustments	-0.01	0.01	0.23	0.12	-1.9
Net Cash Flow	-26.53	94.42	-195.29	-39.26	-156.72
Free Cash Flow	244.75	292.24	255.23	164.17	80.95
Free Cash Flow Growth	-16.25%	14.50%	55.46%	102.81%	110.74%
Free Cash Flow Margin	39.85%	55.65%	43.60%	47.68%	21.21%
Free Cash Flow Per Share	0.12	0.16	0.16	0.11	0.06
Cash Income Tax Paid	1.73	-	-0.1	0.47	0.2
Levered Free Cash Flow	-138.64	-128.84	-142.33	-117.88	-129.18
Unlevered Free Cash Flow	-136.21	-127.4	-142.13	-117.77	-129.07
Change in Working Capital	-27.59	47.32	-2.04	1.03	-21.98

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