LC Logistics 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	395.79	118.88	380.94	384.09
Depreciation & Amortization	79.3	44.36	39	29.55
Other Amortization	0.41	0.4	0.38	0.64
Loss (Gain) From Sale of Assets	-353.5	0.92	39.27	-20.17
Loss (Gain) From Sale of Investments	3	-0.2	0.23	-3.28
Loss (Gain) on Equity Investments	0.31	0.05	0.16	-5.96
Provision & Write-off of Bad Debts	12.87	1.52	9.47	1.2
Other Operating Activities	33.38	5.9	-4.81	30.53
Change in Accounts Receivable	-52.03	58.36	152.68	-212.83
Change in Inventory	-0.94	1.22	10.44	-13.71
Change in Accounts Payable	-36.96	-163.99	-116.73	326.68
Change in Other Net Operating Assets	-2.34	-26.38	74.32	-11.79
Operating Cash Flow	79.28	41.03	585.35	504.94
Operating Cash Flow Growth	93.25%	-92.99%	15.92%	891.87%
Capital Expenditures	-460.48	-311.67	-620.52	-695.95
Sale of Property, Plant & Equipment	981.46	27.55	277.59	298.44
Divestitures	-	-	-	-2.51
Sale (Purchase) of Intangibles	-0.21	-0.14	-0.25	-0.06
Investment in Securities	-49.28	-3.4	-3.3	4.78
Other Investing Activities	1.28	-7.83	-0.51	0.08
Investing Cash Flow	472.76	-295.5	-346.99	-395.22
Short-Term Debt Issued	-	-	0.09	8.8
Long-Term Debt Issued	84.66	10	52.35	118.12
Total Debt Issued	84.66	10	52.44	126.91
Short-Term Debt Repaid	-	-	-3.19	-5.96
Long-Term Debt Repaid	-79.5	-32.85	-100.59	-75.33
Total Debt Repaid	-79.5	-32.85	-103.78	-81.29
Net Debt Issued (Repaid)	5.15	-22.85	-51.34	45.62
Issuance of Common Stock	-	144.63	8.42	-
Other Financing Activities	1.44	-10.21	-66.2	-13.22
Financing Cash Flow	6.59	111.57	-109.12	32.4
Foreign Exchange Rate Adjustments	3.8	6.58	20.75	-2.79
Net Cash Flow	562.43	-136.32	149.99	139.34
Free Cash Flow	-381.2	-270.64	-35.17	-191.01
Free Cash Flow Margin	-19.59%	-21.85%	-0.76%	-4.55%
Free Cash Flow Per Share	-0.67	-0.51	-0.07	-
Cash Interest Paid	3.96	3.26	4.37	7.6
Cash Income Tax Paid	4.18	3.4	24.88	2.87
Levered Free Cash Flow	-324.35	-342.57	-50.28	-555.88
Unlevered Free Cash Flow	-318.77	-339.2	-47.26	-550.86
Change in Working Capital	-92.27	-130.8	120.72	88.34

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