Xinming China Holdings 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	-219.03	-542.52	-526.12	-2,250	-863.94
Depreciation & Amortization	0.01	0.01	0.01	0.05	0.09
Loss (Gain) From Sale of Assets	-	0	-	686.6	643.08
Asset Writedown & Restructuring Costs	-21.87	12.27	17.9	1,083	2
Loss (Gain) From Sale of Investments	15.81	26.84	2.76	22.51	2.51
Other Operating Activities	262.99	432.5	518.67	400.03	232.89
Change in Accounts Receivable	-62.05	-10.05	-0.37	29.42	-9.8
Change in Inventory	100.11	82.94	186.64	-117.99	-111.41
Change in Accounts Payable	-238.31	-24.13	143.68	17.8	1.2
Change in Unearned Revenue	7.53	-23.12	-425.56	186.99	244.65
Change in Other Net Operating Assets	141.99	111.34	-1.88	-59.55	25.6
Operating Cash Flow	-12.83	66.08	-84.27	-1.68	166.88
Capital Expenditures	-0	-	-	-	-0.02
Divestitures	-	-	-	-	-0.41
Other Investing Activities	0.01	0.01	0.18	0.05	0.19
Investing Cash Flow	0	0.01	0.18	0.05	-0.25
Long-Term Debt Issued	14.64	3.71	117.28	-	6
Long-Term Debt Repaid	-4.56	-70.47	-39.29	-11.16	-64
Total Debt Repaid	-4.56	-70.47	-39.29	-11.16	-64
Net Debt Issued (Repaid)	10.08	-66.76	77.99	-11.16	-58
Issuance of Common Stock	76.95	-	-	-	-
Other Financing Activities	-67.89	-	-	-	-93.66
Financing Cash Flow	19.14	-66.76	77.99	-11.16	-151.66
Net Cash Flow	6.32	-0.67	-6.1	-12.79	14.97
Free Cash Flow	-12.83	66.08	-84.27	-1.68	166.86
Free Cash Flow Margin	-11.72%	76.09%	-19.94%	-4.76%	163.85%
Free Cash Flow Per Share	-6.06	71.19	-112.14	-2.23	222.05
Cash Interest Paid	63	-	-	-	93.66
Cash Income Tax Paid	0.12	0.15	0.03	11.12	1.07
Levered Free Cash Flow	31.49	292.2	162.19	520.2	644.36
Unlevered Free Cash Flow	231.45	581.49	407.16	572.73	941.79
Change in Working Capital	-50.73	136.98	-97.49	56.68	150.25