CStone Pharmaceuticals 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	-437	-91.21	-367.23	-902.68	-1,920
Depreciation & Amortization	43.91	49.74	56.93	42.03	20.06
Other Amortization	0.07	0.07	1.27	2.51	2.6
Loss (Gain) From Sale of Assets	-	-0.38	-178.89	-	0.9
Asset Writedown & Restructuring Costs	16.8	10.73	26.4	23.41	-
Loss (Gain) From Sale of Investments	2.63	-6.01	-0.06	62.03	64.21
Stock-Based Compensation	23.97	-2.81	36.99	142.06	222.67
Other Operating Activities	94.81	-2.31	-26.8	-54.48	85.93
Change in Accounts Receivable	50.12	88.48	-95.31	40.47	-117.6
Change in Inventory	81.99	-174.9	-95.46	30.42	-86.18
Change in Accounts Payable	-202.98	-170.1	-121.6	-3.1	153.08
Change in Unearned Revenue	-	35	70	-	-6.76
Change in Other Net Operating Assets	-2.05	-39.51	104.92	6.59	97.17
Operating Cash Flow	-327.75	-303.21	-588.84	-610.74	-1,484
Capital Expenditures	-	-	-0.02	-	-91.03
Sale of Property, Plant & Equipment	-	0.41	0.11	-	-
Sale (Purchase) of Intangibles	-	-	151.57	-101.82	-58.11
Investment in Securities	123.46	-254.13	447.69	463.81	-687.48
Other Investing Activities	10.53	6.05	20.25	1.41	10.06
Investing Cash Flow	133.99	-247.68	619.61	363.39	-826.55
Long-Term Debt Issued	265	278	350	113.04	96.22
Long-Term Debt Repaid	-273.14	-312.02	-289.98	-75.3	-18.5
Net Debt Issued (Repaid)	-8.14	-34.02	60.02	37.75	77.72
Issuance of Common Stock	672.46	0.07	341.82	2.53	16.83
Other Financing Activities	-86.54	-18.92	-13.49	-11.81	-2.24
Financing Cash Flow	577.78	-52.86	388.36	28.47	92.3
Foreign Exchange Rate Adjustments	-18.26	-4.98	18.87	34.84	-63.55
Net Cash Flow	365.76	-608.73	437.99	-184.04	-2,282
Free Cash Flow	-327.75	-303.21	-588.86	-610.74	-1,575
Free Cash Flow Margin	-121.58%	-74.46%	-126.95%	-126.88%	-646.26%
Free Cash Flow Per Share	-0.24	-0.24	-0.47	-0.52	-1.35
Cash Interest Paid	10.88	11.9	10.18	11.81	2.24
Cash Income Tax Paid	13.06	-	-	-	-
Levered Free Cash Flow	-251.06	-233.08	-495.11	-398.41	-1,054
Unlevered Free Cash Flow	-242.77	-223.6	-487.73	-393.11	-1,052
Change in Working Capital	-72.93	-261.03	-137.45	74.37	39.7

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