Clover Biopharmaceuticals 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	-205.09	-903.43	-138.54	-2,452	-6,016
Depreciation & Amortization	21.48	34.03	69.24	56.67	24.49
Other Amortization	5.74	6.29	15.62	37.58	6.6
Loss (Gain) From Sale of Assets	0.01	-2	4.74	8.43	-
Asset Writedown & Restructuring Costs	-	14.01	10.31	-	-
Loss (Gain) From Sale of Investments	-0.17	-0.4	-	-0.23	-0.91
Stock-Based Compensation	6.69	16.28	53.52	95.02	125.21
Other Operating Activities	-11.64	724.13	1,751	506.99	3,866
Change in Accounts Receivable	40.99	-16.89	-24.11	-	-
Change in Inventory	1.74	-8.57	-8.7	-2,090	-771.75
Change in Accounts Payable	-11.82	-127.38	-104.09	268.41	554.74
Change in Unearned Revenue	-14	15.54	-2,430	696.69	2,475
Change in Other Net Operating Assets	-28.74	-40.11	73.01	1,182	-1,181
Operating Cash Flow	-194.83	-288.49	-727.88	-1,691	-917.75
Capital Expenditures	-0.03	-1.13	-6.95	-77.03	-59.25
Sale of Property, Plant & Equipment	0.02	0.07	-	2.2	-
Sale (Purchase) of Intangibles	-	-0.5	-2.22	-28.53	-21.06
Investment in Securities	-	-	-	65.85	192.44
Other Investing Activities	-	4.72	3.02	-	-
Investing Cash Flow	-0.01	3.17	-6.16	-37.51	112.12
Short-Term Debt Issued	-	-	460.79	293.83	-
Long-Term Debt Issued	20	80.28	-	-	-
Total Debt Issued	20	80.28	460.79	293.83	-
Short-Term Debt Repaid	-	-	-444.59	-	-
Long-Term Debt Repaid	-99.11	-325.75	-28.57	-28.77	-14.74
Total Debt Repaid	-99.11	-325.75	-473.16	-28.77	-14.74
Net Debt Issued (Repaid)	-79.11	-245.48	-12.37	265.06	-14.74
Issuance of Common Stock	0.48	0.01	0.08	453.16	1,750
Other Financing Activities	143.01	193.97	-130.13	-235.07	-163.47
Financing Cash Flow	64.39	-51.5	-142.41	483.14	3,057
Foreign Exchange Rate Adjustments	-3.16	2.2	4.9	85.21	-0.36
Net Cash Flow	-133.61	-334.62	-871.55	-1,160	2,251
Free Cash Flow	-194.86	-289.62	-734.83	-1,768	-977
Free Cash Flow Margin	-5559.46%	-753.84%	-1871.94%	-	-
Free Cash Flow Per Share	-0.15	-0.23	-0.59	-1.60	-0.84
Cash Interest Paid	0.75	5.62	16.55	0.24	-
Levered Free Cash Flow	-12.79	225.07	-450.34	-1,584	-1,219
Unlevered Free Cash Flow	-12.55	228.67	-438.64	-1,580	-1,214
Change in Working Capital	-11.84	-177.4	-2,494	56.63	1,077

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