Cathay Group 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	301	92.06	-196.27	96.47	57.53
Depreciation & Amortization	81.88	88.21	77.43	56.83	40.93
Other Amortization	0.49	0.5	63.33	0.47	0.55
Loss (Gain) From Sale of Assets	-	-	1.54	-	-0.03
Asset Writedown & Restructuring Costs	1.8	0.02	-	-	63.98
Loss (Gain) From Sale of Investments	26.03	-0.66	-1.54	-4.22	-37.53
Stock-Based Compensation	0.81	1.53	1.2	-	-
Provision & Write-off of Bad Debts	-5.06	80.13	241.12	140.64	26.01
Other Operating Activities	19.92	108.33	120.86	74.05	58.74
Change in Accounts Receivable	94.33	-24.58	-68.89	31.02	-181.16
Change in Inventory	0.08	-0.69	55.15	25	-52.23
Change in Accounts Payable	-10.83	14.03	4.16	-44.64	-135.16
Change in Unearned Revenue	71.08	8.53	75.8	12.69	89.27
Operating Cash Flow	581.53	367.43	373.9	339.84	-23.41
Operating Cash Flow Growth	58.27%	-1.73%	10.02%	-	-
Capital Expenditures	-119.83	-107.37	-254.16	-75.44	-355.54
Sale of Property, Plant & Equipment	-	0.04	-	-	0.08
Cash Acquisitions	-	-	-	-	-155.62
Sale (Purchase) of Intangibles	-0.24	-0.24	-44.74	-0.32	-1.92
Sale (Purchase) of Real Estate	-70	-	-	-	-
Investment in Securities	-166.27	150.74	-280.72	124.45	222.25
Other Investing Activities	45.31	33.61	76.43	64.88	1.24
Investing Cash Flow	-311.02	76.79	-503.19	113.57	-709.5
Long-Term Debt Repaid	-	-5.16	-5.68	-3.55	-38.41
Net Debt Issued (Repaid)	-	-5.16	-5.68	-3.55	-38.41
Repurchase of Common Stock	-	-	-	-25.89	-34.78
Common Dividends Paid	-	-	-45.55	-132.33	-193.95
Other Financing Activities	-	-	-	-0.05	-0.29
Financing Cash Flow	-90.61	-95.5	-51.23	-204.1	-267.43
Foreign Exchange Rate Adjustments	-5.37	-	1.7	1.19	4.04
Miscellaneous Cash Flow Adjustments	-	-	-	-42	-
Net Cash Flow	174.54	348.73	-178.83	208.5	-996.3
Free Cash Flow	461.7	260.06	119.74	264.4	-378.94
Free Cash Flow Growth	77.54%	117.19%	-54.71%	-	-
Free Cash Flow Margin	58.61%	33.24%	15.78%	40.26%	-65.55%
Free Cash Flow Per Share	0.28	0.16	0.07	0.16	-0.23
Cash Income Tax Paid	0.21	0.56	0.5	26.65	42.83
Levered Free Cash Flow	347.3	211.79	305.17	401.46	-996.9
Unlevered Free Cash Flow	347.34	212.39	306	401.82	-996.9
Change in Working Capital	154.66	-2.71	66.22	24.06	-279.28

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