Dalipal Holdings 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	-77.07	134.52	151.58	82.94
Depreciation & Amortization	139.59	135.28	128.87	124.12
Loss (Gain) From Sale of Assets	0.29	-0.06	-0.26	0.31
Stock-Based Compensation	20.31	7.43	2.88	2.11
Other Operating Activities	64.77	84.28	119.41	130.73
Change in Accounts Receivable	102.95	-10.42	290.42	-766
Change in Inventory	-226.49	177.81	25.68	-284.64
Change in Accounts Payable	-	-	-	374.07
Change in Other Net Operating Assets	-13.44	-93.88	45.57	50.07
Operating Cash Flow	10.92	434.97	764.14	-286.31
Operating Cash Flow Growth	-97.49%	-43.08%	-	-
Capital Expenditures	-328.96	-126.73	-82.94	-84.66
Sale of Property, Plant & Equipment	1.72	1.46	0.49	56.24
Investment in Securities	31.49	-26.8	-	-
Other Investing Activities	3.21	4.09	3.36	2.1
Investing Cash Flow	-292.54	-147.98	-79.1	-26.33
Long-Term Debt Issued	1,276	650.86	1,017	2,225
Total Debt Issued	1,276	650.86	1,017	2,225
Long-Term Debt Repaid	-835.24	-825.85	-1,547	-1,681
Total Debt Repaid	-835.24	-825.85	-1,547	-1,681
Net Debt Issued (Repaid)	441.14	-174.99	-529.24	544.18
Issuance of Common Stock	1.19	1.83	0.46	0.47
Repurchase of Common Stock	-	-	-6.28	-
Common Dividends Paid	-54.46	-53.89	-36.58	-
Other Financing Activities	-115.97	-91.31	-167.87	-113.15
Financing Cash Flow	271.89	-318.36	-739.51	431.5
Foreign Exchange Rate Adjustments	0.95	1.5	5.34	-0.9
Net Cash Flow	-8.79	-29.87	-49.13	117.97
Free Cash Flow	-318.04	308.24	681.2	-370.97
Free Cash Flow Growth	-	-54.75%	-	-
Free Cash Flow Margin	-9.66%	8.01%	16.11%	-9.86%
Free Cash Flow Per Share	-0.22	0.21	0.45	-0.25
Cash Interest Paid	86.79	86.77	113.92	113.15
Cash Income Tax Paid	8.07	20.55	6.2	1.12
Levered Free Cash Flow	-345.45	142.65	491.94	-445.26
Unlevered Free Cash Flow	-295.46	193.02	548.71	-383.7
Change in Working Capital	-136.98	73.51	361.67	-626.51

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.