XtalPi 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	123.75	-1,517	-1,914	-1,439	-2,137
Depreciation & Amortization	115.6	136.04	116.04	65.34	22.05
Other Amortization	-	3.42	5.68	3.71	1.08
Loss (Gain) From Sale of Assets	-	-	-	-0.12	-0.98
Loss (Gain) From Sale of Investments	-	-28.31	-68.62	12.22	-9.25
Loss (Gain) on Equity Investments	-	4.19	1.96	0.24	4.5
Stock-Based Compensation	-	136.68	88.43	43.38	22.48
Other Operating Activities	-404.76	822.93	1,217	907.05	1,824
Change in Accounts Receivable	-	-90.83	-2.5	-24.94	-44.59
Change in Accounts Payable	-	63.72	8.33	26.79	47.62
Change in Unearned Revenue	-	-30.96	-14.68	-8.03	-0.17
Change in Other Net Operating Assets	-	21.04	-4.61	-16.23	16.86
Operating Cash Flow	-165.41	-478.68	-567.56	-429.1	-253.75
Capital Expenditures	-71.41	-58.11	-123.79	-193.42	-160.58
Sale of Property, Plant & Equipment	0.03	0	0.08	1.49	3.88
Cash Acquisitions	-223.82	-	-	-	-
Sale (Purchase) of Intangibles	-10.09	-3.76	-6.84	-5.19	-3.1
Investment in Securities	-3,662	65.19	727.37	-2,603	80.42
Other Investing Activities	20.87	70.77	138.77	41.99	8.91
Investing Cash Flow	-3,946	74.09	735.58	-2,758	-70.47
Short-Term Debt Issued	311.93	-	-	-	-
Long-Term Debt Issued	187	61.9	60	25	20
Total Debt Issued	498.93	61.9	60	25	20
Short-Term Debt Repaid	-205.03	-70	-36	-22.28	-16.2
Long-Term Debt Repaid	-36.97	-51.78	-48.33	-11.33	-6.2
Total Debt Repaid	-242	-121.78	-84.33	-33.61	-22.4
Net Debt Issued (Repaid)	256.93	-59.88	-24.33	-8.61	-2.4
Issuance of Common Stock	5,316	904.52	-	-	0.01
Other Financing Activities	-6.22	-4.64	-1.55	66.6	-1.68
Financing Cash Flow	5,567	840	-25.89	57.99	2,476
Foreign Exchange Rate Adjustments	-47.91	19.98	-5.59	179.47	-59.07
Net Cash Flow	1,407	455.39	136.54	-2,949	2,093
Free Cash Flow	-236.82	-536.79	-691.36	-622.52	-414.32
Free Cash Flow Margin	-29.51%	-201.47%	-396.37%	-466.82%	-659.76%
Free Cash Flow Per Share	-0.06	-0.28	-1.43	-1.29	-0.86
Cash Interest Paid	6.22	1.78	1.55	1.61	1.68
Levered Free Cash Flow	-236.31	-314.94	-354.87	-445.33	-
Unlevered Free Cash Flow	-230.45	-310.71	-348.88	-441.74	-
Change in Working Capital	-	-37.03	-13.47	-22.41	19.73

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