Clover Biopharmaceuticals 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	-903.43	-138.54	-2,452	-6,016
Depreciation & Amortization	34.03	69.24	56.67	24.49
Other Amortization	6.29	15.62	37.58	6.6
Loss (Gain) From Sale of Assets	-2	4.74	8.43	-
Asset Writedown & Restructuring Costs	14.01	10.31	-	-
Loss (Gain) From Sale of Investments	-0.4	-	-0.23	-0.91
Stock-Based Compensation	16.28	53.52	95.02	125.21
Other Operating Activities	724.13	1,751	506.99	3,866
Change in Accounts Receivable	-16.89	-24.11	-	-
Change in Inventory	-8.57	-8.7	-2,090	-771.75
Change in Accounts Payable	-127.38	-104.09	268.41	554.74
Change in Unearned Revenue	15.54	-2,430	696.69	2,475
Change in Other Net Operating Assets	-40.11	73.01	1,182	-1,181
Operating Cash Flow	-288.49	-727.88	-1,691	-917.75
Capital Expenditures	-1.13	-6.95	-77.03	-59.25
Sale of Property, Plant & Equipment	0.07	-	2.2	-
Sale (Purchase) of Intangibles	-0.5	-2.22	-28.53	-21.06
Investment in Securities	4.72	3.02	65.85	192.44
Investing Cash Flow	3.17	-6.16	-37.51	112.12
Short-Term Debt Issued	80.28	460.79	293.83	-
Total Debt Issued	80.28	460.79	293.83	-
Short-Term Debt Repaid	-314.61	-444.59	-	-
Long-Term Debt Repaid	-11.15	-28.57	-28.77	-14.74
Total Debt Repaid	-325.75	-473.16	-28.77	-14.74
Net Debt Issued (Repaid)	-245.48	-12.37	265.06	-14.74
Issuance of Common Stock	0.01	0.08	453.16	1,750
Other Financing Activities	193.97	-130.13	-235.07	-163.47
Financing Cash Flow	-51.5	-142.41	483.14	3,057
Foreign Exchange Rate Adjustments	2.2	4.9	85.21	-0.36
Net Cash Flow	-334.62	-871.55	-1,160	2,251
Free Cash Flow	-289.62	-734.83	-1,768	-977
Free Cash Flow Margin	-753.84%	-1871.94%	-	-
Free Cash Flow Per Share	-0.23	-0.59	-1.60	-0.84
Cash Interest Paid	5.62	16.55	0.24	-
Levered Free Cash Flow	225.07	-450.34	-1,584	-1,219
Unlevered Free Cash Flow	228.67	-438.64	-1,580	-1,214
Change in Working Capital	-177.4	-2,494	56.63	1,077

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