Bayzed Health Group 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	-12.96	-13.46	-26.39	-58.02	-46.09
Depreciation & Amortization	90.92	85.04	84.69	73.4	49.57
Other Amortization	-	2.36	1.58	1.14	0.76
Loss (Gain) From Sale of Assets	-	-0	0.18	0.04	-0.33
Stock-Based Compensation	-	-	-	0.18	-
Provision & Write-off of Bad Debts	-	0.65	0.27	2.06	0.46
Other Operating Activities	144.39	21.15	28.82	8.21	1.2
Change in Accounts Receivable	-	-86.42	-26.27	-33.08	-29.39
Change in Inventory	-	-3.1	-3.76	-7.34	-13.19
Change in Accounts Payable	-	232.53	67.14	46.34	70.82
Change in Unearned Revenue	-	-44.84	-7.8	69.33	8.86
Change in Other Net Operating Assets	-	-25.37	9.91	12.13	-36.26
Operating Cash Flow	222.34	168.54	128.37	114.4	6.42
Operating Cash Flow Growth	31.92%	31.29%	12.22%	1683.24%	-
Capital Expenditures	-33.44	-43.87	-45.37	-29.44	-49.06
Cash Acquisitions	-	-	-	-149.36	-23.8
Sale (Purchase) of Intangibles	-4.47	-2.58	-8.44	-6.91	-4.92
Other Investing Activities	-128.83	98.62	-4.8	-22.97	-78.67
Investing Cash Flow	-166.74	52.17	-58.61	-208.68	-156.45
Short-Term Debt Issued	0.09	-	-	6.63	-
Long-Term Debt Issued	265.66	206.81	243.59	184.9	70.6
Total Debt Issued	265.74	206.81	243.59	191.53	70.6
Short-Term Debt Repaid	-	-1.5	-46.51	-70.55	-15.54
Long-Term Debt Repaid	-453.63	-369.85	-237.93	-91.65	-174.37
Total Debt Repaid	-453.63	-371.35	-284.44	-162.21	-189.91
Net Debt Issued (Repaid)	-187.89	-164.54	-40.85	29.32	-119.31
Issuance of Common Stock	513.13	3.6	130.87	71.11	395.12
Other Financing Activities	-57.51	-7.52	-42.99	-47.01	-45.45
Financing Cash Flow	267.74	-168.46	47.04	53.43	230.36
Foreign Exchange Rate Adjustments	-1.61	-	-	-	-
Net Cash Flow	321.73	52.25	116.8	-40.86	80.32
Free Cash Flow	188.9	124.67	83	84.96	-42.65
Free Cash Flow Growth	51.53%	50.20%	-2.30%	-	-
Free Cash Flow Margin	16.87%	10.49%	7.74%	10.59%	-9.24%
Free Cash Flow Per Share	0.15	0.10	0.07	-	-
Cash Interest Paid	21.53	21.5	26.66	23.62	20.95
Cash Income Tax Paid	18.58	27.3	20	8.98	8.55
Levered Free Cash Flow	-151.86	89.76	9.34	134.19	-
Unlevered Free Cash Flow	-138.41	103.19	26	148.95	-
Change in Working Capital	-	72.8	39.22	87.37	0.85

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