Shanshan Brand Management 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	33.17	31.61	16.01	12.37
Depreciation & Amortization	31.92	36.97	50.57	53.71
Other Amortization	0.65	0.83	0.82	0.74
Loss (Gain) From Sale of Assets	0.06	0.01	1.71	1.66
Asset Writedown & Restructuring Costs	2.63	1.74	2.41	2.03
Loss (Gain) From Sale of Investments	-0.35	0.02	-0.04	-
Loss (Gain) on Equity Investments	-0.53	2.72	0.11	-2.16
Provision & Write-off of Bad Debts	0.85	1.07	2.42	5.97
Other Operating Activities	11.84	24.09	21.08	33.39
Change in Accounts Receivable	-2.05	-18.78	-32.61	-18.6
Change in Inventory	-51.65	73.97	48.79	18.75
Change in Accounts Payable	48.98	-3.76	-5.07	-8.27
Change in Unearned Revenue	-3.43	0.3	-1.22	-11.6
Change in Other Net Operating Assets	-33.89	-16.72	-21.74	-22.08
Operating Cash Flow	38.19	134.07	83.23	56.58
Operating Cash Flow Growth	-71.52%	61.08%	47.09%	12.57%
Capital Expenditures	-45.46	-16.16	-18.54	-30.95
Sale of Property, Plant & Equipment	-	0.09	0.66	0.08
Sale (Purchase) of Intangibles	-1.2	-40.12	-0.22	-1.34
Other Investing Activities	-5.84	4.58	14.41	5.21
Investing Cash Flow	-52.5	-51.61	-3.69	-26.99
Short-Term Debt Issued	145	255	192.5	227.01
Total Debt Issued	145	255	192.5	227.01
Short-Term Debt Repaid	-135	-277.5	-217.22	-252.56
Long-Term Debt Repaid	-16.04	-19.72	-16.6	-22.23
Total Debt Repaid	-151.04	-297.22	-233.82	-274.79
Net Debt Issued (Repaid)	-6.04	-42.22	-41.32	-47.79
Common Dividends Paid	-10.67	-5.34	-	-
Other Financing Activities	-5.73	-6.37	-7.8	-8.87
Financing Cash Flow	-22.45	-53.93	-49.12	-56.65
Net Cash Flow	-36.77	28.54	30.42	-27.06
Free Cash Flow	-7.27	117.91	64.7	25.63
Free Cash Flow Growth	-	82.26%	152.38%	27.14%
Free Cash Flow Margin	-0.72%	11.12%	7.34%	2.58%
Free Cash Flow Per Share	-0.05	0.88	0.48	0.19
Cash Interest Paid	5.73	6.37	7.8	8.87
Cash Income Tax Paid	9.17	0	-	-
Levered Free Cash Flow	8.66	58.13	43.51	21.97
Unlevered Free Cash Flow	12.18	62.22	48.38	27.52
Change in Working Capital	-42.04	35	-11.85	-41.8

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