Butong 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	65.2	58.52	27.22	-21.23
Depreciation & Amortization	22.42	22.08	22.32	19.08
Other Amortization	0.15	0.15	0.09	0.02
Loss (Gain) From Sale of Assets	-0	-	1	0.56
Loss (Gain) From Sale of Investments	-4.55	-2.86	-1.07	-1.82
Loss (Gain) on Equity Investments	0.11	-	-	-
Stock-Based Compensation	26.87	9.81	5.42	5.42
Other Operating Activities	5.09	32.13	40.79	29.23
Change in Accounts Receivable	-47.93	-12.04	-9.45	15.48
Change in Inventory	-8.68	-37.5	-8.28	-22.75
Change in Accounts Payable	58.72	68.4	16.27	2.61
Change in Unearned Revenue	8.49	2.58	7.3	1.9
Change in Other Net Operating Assets	-15.8	-0.86	-5.15	1.05
Operating Cash Flow	110.08	140.41	96.47	29.54
Operating Cash Flow Growth	-21.60%	45.55%	226.53%	-
Capital Expenditures	-66.2	-46.22	-28.6	-14.87
Sale of Property, Plant & Equipment	0	-	0.46	0.06
Investment in Securities	4.69	8.45	38.03	-49.49
Other Investing Activities	-23.66	3.21	1.17	0.52
Investing Cash Flow	-85.17	-34.55	11.05	-63.78
Long-Term Debt Issued	62.67	169.59	29.45	59.85
Long-Term Debt Repaid	-98.88	-167.78	-65.89	-5.88
Net Debt Issued (Repaid)	-36.21	1.82	-36.44	53.97
Issuance of Common Stock	697.09	0.04	-	-
Other Financing Activities	-12.19	-7.53	-2.1	-1.64
Financing Cash Flow	648.69	-5.68	-38.54	52.33
Foreign Exchange Rate Adjustments	-8.12	-1.75	-0.01	0.02
Net Cash Flow	665.49	98.43	68.97	18.11
Free Cash Flow	43.88	94.19	67.86	14.68
Free Cash Flow Growth	-53.41%	38.80%	362.45%	-
Free Cash Flow Margin	3.03%	7.54%	7.96%	2.89%
Free Cash Flow Per Share	0.68	1.75	-	-
Cash Interest Paid	1.21	3.29	1.92	1.64
Cash Income Tax Paid	70.51	53.27	19.03	6.25
Levered Free Cash Flow	79.38	81.87	51.08	-
Unlevered Free Cash Flow	91.65	99.79	68.27	-
Change in Working Capital	-5.2	20.58	0.7	-1.71