ANTA Sports Products 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	13,588	15,596	10,236	7,590	7,720
Depreciation & Amortization	6,230	5,380	4,903	4,383	3,194
Other Amortization	105	91	84	81	72
Loss (Gain) From Sale of Assets	-23	1	-33	-27	9
Loss (Gain) From Sale of Investments	-157	-3,757	-	-	-
Loss (Gain) on Equity Investments	-1,203	-198	718	-28	81
Stock-Based Compensation	324	275	215	250	168
Provision & Write-off of Bad Debts	24	26	5	-4	-22
Other Operating Activities	3,476	1,550	1,847	1,500	921
Change in Accounts Receivable	-656	-362	-1,189	1,196	-178
Change in Inventory	-1,164	-3,410	1,339	-1,260	-2,233
Change in Accounts Payable	639	1,590	1,582	-1,038	2,121
Change in Other Net Operating Assets	-187	-41	-73	-496	8
Operating Cash Flow	20,996	16,741	19,634	12,147	11,861
Operating Cash Flow Growth	25.42%	-14.74%	61.64%	2.41%	59.04%
Capital Expenditures	-2,505	-2,258	-1,161	-1,621	-1,360
Cash Acquisitions	-2,170	-38	-481	-	-
Sale (Purchase) of Intangibles	-145	-133	-160	-115	-94
Sale (Purchase) of Real Estate	-	-	-	-	-39
Investment in Securities	-1,861	-11,188	-23,985	-3,043	-3,233
Other Investing Activities	-365	-1,247	-6	5	57
Investing Cash Flow	-7,046	-14,864	-25,793	-4,774	-4,669
Short-Term Debt Issued	3,306	4,600	1,900	-	-
Long-Term Debt Issued	335	13,877	2,500	3,305	652
Total Debt Issued	3,641	18,477	4,400	3,305	652
Long-Term Debt Repaid	-7,301	-15,105	-7,209	-7,346	-3,485
Total Debt Repaid	-7,301	-15,105	-7,209	-7,346	-3,485
Net Debt Issued (Repaid)	-3,660	3,372	-2,809	-4,041	-2,833
Issuance of Common Stock	-	-	10,497	-	-
Repurchase of Common Stock	-1,952	-1,851	-113	-	-
Common Dividends Paid	-6,585	-6,072	-4,022	-3,086	-2,411
Other Financing Activities	-919	-1,210	-82	-48	297
Financing Cash Flow	-13,116	-5,761	3,471	-7,841	-4,947
Foreign Exchange Rate Adjustments	-43	46	538	254	24
Net Cash Flow	791	-3,838	-2,150	-214	2,269
Free Cash Flow	18,491	14,483	18,473	10,526	10,501
Free Cash Flow Growth	27.67%	-21.60%	75.50%	0.24%	54.22%
Free Cash Flow Margin	23.05%	20.45%	29.63%	19.62%	21.29%
Free Cash Flow Per Share	6.37	4.98	6.44	3.79	3.78
Cash Interest Paid	67	202	113	73	111
Cash Income Tax Paid	5,242	4,532	3,584	3,046	2,677
Levered Free Cash Flow	13,829	12,369	15,589	8,646	10,056
Unlevered Free Cash Flow	14,350	12,760	15,915	8,966	10,333
Change in Working Capital	-1,368	-2,223	1,659	-1,598	-282

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