LongBio Pharma (Suzhou) 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-175.58	-137.32	-95.78
Depreciation & Amortization	7.6	7.25	5.61
Loss (Gain) From Sale of Assets	0.07	-	-
Loss (Gain) From Sale of Investments	-1.24	-0.5	-
Stock-Based Compensation	8.84	0.73	1.49
Other Operating Activities	17.66	30.8	16.54
Change in Accounts Payable	18.33	6.76	7.52
Change in Unearned Revenue	-1.09	2.41	0.96
Change in Other Net Operating Assets	4.38	-14.26	2.81
Operating Cash Flow	-121.04	-104.12	-60.87
Capital Expenditures	-4.39	-6.15	-2.47
Investment in Securities	-53.87	-39.6	-
Other Investing Activities	1.12	0.19	-
Investing Cash Flow	-57.14	-45.56	-2.47
Short-Term Debt Issued	48.25	37.88	13
Long-Term Debt Issued	-	20	-
Total Debt Issued	48.25	57.88	13
Short-Term Debt Repaid	-51.13	-13	-
Long-Term Debt Repaid	-24.99	-4.31	-2.05
Total Debt Repaid	-76.12	-17.31	-2.05
Net Debt Issued (Repaid)	-27.87	40.57	10.95
Issuance of Common Stock	263.77	60	112.2
Other Financing Activities	-27.38	-1.46	-0
Financing Cash Flow	208.53	99.11	123.14
Foreign Exchange Rate Adjustments	-1.92	-0.04	0.02
Net Cash Flow	28.43	-50.6	59.82
Free Cash Flow	-125.43	-110.27	-63.34
Free Cash Flow Per Share	-2.21	-2.32	-1.48
Cash Interest Paid	0.98	0.81	0
Cash Income Tax Paid	-	0.04	-
Levered Free Cash Flow	-79.09	-87.48	-
Unlevered Free Cash Flow	-68.55	-68.11	-
Change in Working Capital	21.62	-5.08	11.28