Voicecomm Technology 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	135.48	-488.68	-33.75	-87.16	36.9
Depreciation & Amortization	119.55	29.4	8.15	4.99	2.9
Other Amortization	-	36	22.38	12.93	0.94
Loss (Gain) From Sale of Assets	-	-0.02	-0.02	0.02	-
Loss (Gain) From Sale of Investments	-	-4.21	-0.22	-8.34	-0.2
Loss (Gain) on Equity Investments	-	-0	0.02	-0.13	0.02
Provision & Write-off of Bad Debts	-	121.25	55.38	42.56	17.44
Other Operating Activities	-42.49	654.98	162.13	154.93	25.34
Change in Accounts Receivable	-	-448.95	-323.09	-131.63	-155.6
Change in Inventory	-	-37.12	87.62	17.21	-9.54
Change in Accounts Payable	-	47.62	2	3.22	16.34
Change in Unearned Revenue	-	-30.81	67.46	4.22	15.26
Change in Other Net Operating Assets	-	-8.67	-116.13	-43.92	-24.88
Operating Cash Flow	212.55	-129.21	-68.07	-31.11	-75.08
Capital Expenditures	-498.94	-399.08	-182.91	-19.81	-56.58
Cash Acquisitions	-	-3	-3.3	-16.76	-20.4
Sale (Purchase) of Intangibles	-	-	-	-102.59	-13.09
Investment in Securities	-	-212.39	1.75	-1.55	-18.1
Other Investing Activities	-41.6	1.04	0.07	0.03	0.03
Investing Cash Flow	-540.54	-613.42	-184.39	-140.68	-108.14
Short-Term Debt Issued	-	-	-	-	5
Long-Term Debt Issued	-	689.78	312	193.67	147.16
Total Debt Issued	-	689.78	312	193.67	152.16
Short-Term Debt Repaid	-	-	-	-3	-2
Long-Term Debt Repaid	-	-459.67	-183.61	-124.12	-95.63
Total Debt Repaid	-	-459.67	-183.61	-127.12	-97.63
Net Debt Issued (Repaid)	-	230.12	128.39	66.54	54.53
Issuance of Common Stock	-	620.27	163.25	121.56	140.4
Other Financing Activities	249.13	-59.94	-12.74	-6.51	-8.21
Financing Cash Flow	249.13	790.45	278.9	181.58	186.72
Foreign Exchange Rate Adjustments	-0.74	0.45	-	-	-
Net Cash Flow	-79.6	48.27	26.44	9.79	3.5
Free Cash Flow	-286.4	-528.29	-250.98	-50.92	-131.66
Free Cash Flow Margin	-28.44%	-56.12%	-30.87%	-9.89%	-28.63%
Free Cash Flow Per Share	-8.06	-20.27	-14.58	-2.96	-7.65
Cash Interest Paid	-	19.28	11.77	11.41	8.21
Cash Income Tax Paid	-	5.35	1.45	7.88	16.33
Levered Free Cash Flow	-320.06	-1,426	21.4	93.22	-
Unlevered Free Cash Flow	-303.64	-1,414	28.76	98.89	-
Change in Working Capital	-	-477.93	-282.14	-150.91	-158.41

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