Xuanzhu Biopharmaceutical 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 2021	FY 2020
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-245.51	-556.43	-300.56	-461.58	-162.45
Depreciation & Amortization	29.64	33.18	31.44	18.14	15.47
Other Amortization	0.41	0.58	0.73	-	-
Loss (Gain) From Sale of Assets	-2.65	7.57	-1.02	-	-
Loss (Gain) From Sale of Investments	6.01	-9.16	-15.93	-	-
Stock-Based Compensation	-	402.9	72.27	-	-
Other Operating Activities	15.04	2.14	3.45	32.01	-60.66
Change in Accounts Receivable	-16.36	-0.19	-	-	-
Change in Inventory	-36.99	3.35	-12.87	-	-
Change in Accounts Payable	14.69	29.67	29.48	-	-
Change in Unearned Revenue	-4.31	-3.55	-	-	-
Change in Other Net Operating Assets	30.07	-37.16	77.07	-	-
Operating Cash Flow	-209.96	-127.09	-115.95	-411.43	-207.65
Capital Expenditures	-0.57	-0.51	-1.74	-75.99	-57.26
Sale of Property, Plant & Equipment	39.64	-	0.01	0.02	180.46
Cash Acquisitions	-	-	-	-131	-
Sale (Purchase) of Intangibles	-39.74	-73.05	-144.61	-	-
Investment in Securities	112.43	205.49	191.08	250.61	-292.93
Other Investing Activities	-	-	-	5.14	-5
Investing Cash Flow	111.75	131.93	44.73	48.77	-174.73
Long-Term Debt Issued	10	-	-	200	-
Long-Term Debt Repaid	-10.88	-5.26	-7.58	-200	-8
Net Debt Issued (Repaid)	-0.88	-5.26	-7.58	-	-8
Issuance of Common Stock	659.05	-	-	866.21	925.93
Common Dividends Paid	-	-	-	-0.45	-0.19
Other Financing Activities	-35.72	-7.16	-2.33	-8.08	-3.23
Financing Cash Flow	622.45	-12.43	-9.9	857.69	914.51
Foreign Exchange Rate Adjustments	-7.26	-0.05	-0.1	-0.01	0.02
Miscellaneous Cash Flow Adjustments	0	-	-	-	-
Net Cash Flow	516.98	-7.64	-81.22	495.01	532.16
Free Cash Flow	-210.54	-127.6	-117.69	-487.42	-264.9
Free Cash Flow Margin	-406.66%	-424.00%	-405831.03%	-	-
Free Cash Flow Per Share	-0.45	-0.28	-0.26	-1.24	-
Cash Interest Paid	0.08	-	-	-	-
Cash Income Tax Paid	0.01	0.01	0.01	7.87	2.97
Levered Free Cash Flow	-170.67	20.65	-	-336.77	-171.5
Unlevered Free Cash Flow	-170.6	20.84	-	-336.08	-171.26
Change in Working Capital	-12.9	-7.87	93.68	-	-

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