Launch Tech Company 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	344.26	339.51	168.9	328.03	92.39
Depreciation & Amortization	-	34.76	46.51	54.39	63.28
Other Amortization	-	13.11	0.11	0.05	-
Loss (Gain) From Sale of Assets	-	0.29	-1.36	0.86	1.96
Asset Writedown & Restructuring Costs	-	-0.08	14.67	0.01	1.18
Loss (Gain) From Sale of Investments	-	-2.32	-2.17	-282.34	-0.25
Provision & Write-off of Bad Debts	-	-3.44	4.3	-20.97	15.2
Other Operating Activities	138.2	35.35	32.81	29.81	19.37
Change in Accounts Receivable	-	-133.53	-165.67	-101.88	-72.57
Change in Inventory	-	-11.84	34.19	15.52	-41.65
Change in Accounts Payable	-	122.43	31.46	43.64	-93.86
Operating Cash Flow	482.46	391.42	163.61	71.35	-14.17
Operating Cash Flow Growth	23.26%	139.24%	129.29%	-	-
Capital Expenditures	-55	-75.48	-86.64	-62.11	-49.06
Sale of Property, Plant & Equipment	-	0.01	5.54	1.73	0.31
Cash Acquisitions	-	-52.66	-35.16	-	-
Divestitures	-	31.47	261.13	44.01	-
Investment in Securities	-34	-16.5	28.62	-20.89	-23.19
Other Investing Activities	0.85	-1.7	-0.48	7.42	0.56
Investing Cash Flow	-88.15	-114.87	173.01	-29.84	-71.37
Long-Term Debt Issued	-	413.64	217.61	708.69	403.58
Total Debt Issued	-	413.64	217.61	708.69	403.58
Long-Term Debt Repaid	-7	-552.78	-248.12	-659.26	-289
Total Debt Repaid	-7	-552.78	-248.12	-659.26	-289
Net Debt Issued (Repaid)	-7	-139.15	-30.5	49.43	114.58
Repurchase of Common Stock	-54	-	-32.62	-	-
Common Dividends Paid	-320	-203.07	-149.75	-23.36	-12.41
Other Financing Activities	-17.79	-	-	-	23.31
Financing Cash Flow	-398.79	-342.21	-212.88	26.07	125.48
Foreign Exchange Rate Adjustments	0.16	-4.98	-2.57	6.63	1.79
Net Cash Flow	-4.32	-70.65	121.18	74.21	41.72
Free Cash Flow	427.46	315.94	76.97	9.24	-63.23
Free Cash Flow Growth	35.30%	310.46%	732.63%	-	-
Free Cash Flow Margin	20.27%	16.79%	4.82%	0.78%	-4.70%
Free Cash Flow Per Share	1.03	0.76	0.18	0.02	-0.15
Cash Interest Paid	8	0	-	-	-
Cash Income Tax Paid	-	8.79	-3.4	4.78	-10.67
Levered Free Cash Flow	261.75	197.51	265.06	-247.4	-67.31
Unlevered Free Cash Flow	272.59	205.98	275.01	-232.86	-58.5
Change in Working Capital	-	-25.76	-100.17	-38.49	-207.28

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