Guoxia 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	102.86	49.12	28.13	24.28
Depreciation & Amortization	19	11.09	1.77	0.12
Other Amortization	0.39	0.21	0.1	-
Loss (Gain) From Sale of Assets	0.09	0.31	-	-
Loss (Gain) on Equity Investments	7.23	0.15	0.01	-
Stock-Based Compensation	4.65	4.13	3.62	-
Provision & Write-off of Bad Debts	13.73	7.04	1.31	0.17
Other Operating Activities	25.67	13.03	2.33	3.95
Change in Accounts Receivable	-812.51	-402.44	-126.26	-39.87
Change in Inventory	-236.74	4.69	-87.97	-29.5
Change in Accounts Payable	931.32	306.15	108.56	20.35
Change in Unearned Revenue	4.04	82.02	-10.69	9.47
Change in Other Net Operating Assets	85.5	-71.76	6.18	-19.29
Operating Cash Flow	145.23	3.73	-72.91	-30.32
Operating Cash Flow Growth	3793.54%	-	-	-
Capital Expenditures	-92.98	-66.11	-28.34	-4.31
Sale (Purchase) of Intangibles	-3.11	-0.08	-2.08	-
Investment in Securities	79.28	-85.91	-8.73	-
Investing Cash Flow	32	-202.7	-44.7	-5.91
Long-Term Debt Issued	621.17	385.57	174.68	39.26
Long-Term Debt Repaid	-551.8	-187.95	-81.78	-2.41
Net Debt Issued (Repaid)	69.37	197.62	92.9	36.85
Issuance of Common Stock	809.99	43.78	34.11	4.6
Other Financing Activities	-71.37	-6.43	-2.47	-0.25
Financing Cash Flow	807.99	234.96	124.55	41.2
Foreign Exchange Rate Adjustments	-1.47	0.03	0	-0.04
Net Cash Flow	983.75	36.03	6.94	4.93
Free Cash Flow	52.25	-62.38	-101.25	-34.63
Free Cash Flow Margin	2.54%	-6.08%	-32.21%	-24.42%
Free Cash Flow Per Share	0.11	-0.22	-0.60	-0.60
Cash Interest Paid	16.78	7.53	2.47	0.25
Cash Income Tax Paid	10.34	2.31	4.6	-
Levered Free Cash Flow	-40.24	-146.64	-124.73	-
Unlevered Free Cash Flow	-29.39	-140.19	-122.83	-
Change in Working Capital	-28.39	-81.35	-110.18	-58.83