Guoxia Technology Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	80.28	49.12	28.13	24.28
Depreciation & Amortization	16.03	11.09	1.77	0.12
Other Amortization	0.24	0.21	0.1	-
Loss (Gain) From Sale of Assets	0.03	0.31	-	-
Loss (Gain) on Equity Investments	0.88	0.15	0.01	-
Stock-Based Compensation	4.65	4.13	3.62	-
Provision & Write-off of Bad Debts	13.99	7.04	1.31	0.17
Other Operating Activities	18.39	13.03	2.33	3.95
Change in Accounts Receivable	-858.06	-402.44	-126.26	-39.87
Change in Inventory	6.32	4.69	-87.97	-29.5
Change in Accounts Payable	627.28	306.15	108.56	20.35
Change in Unearned Revenue	-41.88	82.02	-10.69	9.47
Change in Other Net Operating Assets	-17.45	-71.76	6.18	-19.29
Operating Cash Flow	-149.3	3.73	-72.91	-30.32
Capital Expenditures	-94.27	-66.11	-28.34	-4.31
Sale (Purchase) of Intangibles	-2.74	-0.08	-2.08	-
Investment in Securities	-4.17	-85.91	-8.73	-
Investing Cash Flow	-95.43	-202.7	-44.7	-5.91
Long-Term Debt Issued	-	385.57	174.68	39.26
Long-Term Debt Repaid	-	-187.95	-81.78	-2.41
Net Debt Issued (Repaid)	166.51	197.62	92.9	36.85
Issuance of Common Stock	113.78	43.78	34.11	4.6
Other Financing Activities	-8.02	-6.43	-2.47	-0.25
Financing Cash Flow	272.27	234.96	124.55	41.2
Foreign Exchange Rate Adjustments	0.13	0.03	0	-0.04
Net Cash Flow	27.68	36.03	6.94	4.93
Free Cash Flow	-243.56	-62.38	-101.25	-34.63
Free Cash Flow Margin	-14.98%	-6.08%	-32.21%	-24.42%
Free Cash Flow Per Share	-3.13	-1.11	-3.01	-3.01
Cash Interest Paid	9.12	7.53	2.47	0.25
Cash Income Tax Paid	6.81	2.31	4.6	-
Levered Free Cash Flow	-	-146.66	-124.73	-
Unlevered Free Cash Flow	-	-140.21	-122.83	-
Change in Working Capital	-283.79	-81.35	-110.18	-58.83

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