Zhou Liu Fu Jewellery Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2019
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '19 Dec 31, 2019
Net Income	706.31	659.69	575.24	413.12
Depreciation & Amortization	65.85	53.39	40.2	2.53
Other Amortization	0.95	1.1	0.53	6.9
Loss (Gain) From Sale of Assets	0.03	-0.54	-0.08	-0.17
Asset Writedown & Restructuring Costs	1.21	-	-	1.05
Loss (Gain) From Sale of Investments	-	-	-	-0.04
Stock-Based Compensation	4.91	-0.98	7.36	-
Provision & Write-off of Bad Debts	-0.06	-4.44	7.46	-
Other Operating Activities	22.85	9.35	14.89	3.03
Change in Accounts Receivable	28.58	-2.87	-31.03	-67.68
Change in Inventory	-373.27	-310.55	-375.8	-146.69
Change in Accounts Payable	2.29	-0.58	-2.18	33.31
Change in Unearned Revenue	-35.35	28.05	-28.29	-
Change in Other Net Operating Assets	-34.22	-27.75	-69.36	-11.79
Operating Cash Flow	390.09	403.88	138.94	236.21
Operating Cash Flow Growth	-3.42%	190.69%	-41.18%	188.15%
Capital Expenditures	-336.31	-33.54	-163.36	-13.55
Sale of Property, Plant & Equipment	0.11	1.07	0.24	-
Sale (Purchase) of Real Estate	-	-	-17.26	-
Investment in Securities	-169.44	-160.41	-165.23	-
Other Investing Activities	-	-	17.26	0.05
Investing Cash Flow	-505.64	-192.89	-328.36	-13.51
Short-Term Debt Issued	-	-	-	90
Long-Term Debt Issued	1,007	84.03	-	-
Total Debt Issued	1,007	84.03	-	90
Short-Term Debt Repaid	-	-	-	-90
Long-Term Debt Repaid	-480.48	-23.38	-19.94	-
Total Debt Repaid	-480.48	-23.38	-19.94	-90
Net Debt Issued (Repaid)	526.1	60.66	-19.94	-
Issuance of Common Stock	245	-	-	-
Common Dividends Paid	-644.47	-300.26	-	-2.36
Other Financing Activities	-14.28	-1.18	-4.08	-4.3
Financing Cash Flow	112.35	-240.79	-24.01	-6.66
Foreign Exchange Rate Adjustments	2.22	0.13	-0	-
Net Cash Flow	-0.98	-29.66	-213.44	216.05
Free Cash Flow	53.77	370.34	-24.43	222.66
Free Cash Flow Growth	-85.48%	-	-	189.74%
Free Cash Flow Margin	0.94%	7.19%	-0.79%	9.81%
Free Cash Flow Per Share	0.14	1.01	-0.07	0.61
Cash Interest Paid	7.13	0.45	-	-
Cash Income Tax Paid	180.02	170.19	159.12	155.78
Levered Free Cash Flow	-185.95	207.01	-	135.65
Unlevered Free Cash Flow	-180.08	208.54	-	137.14
Change in Working Capital	-411.97	-313.69	-506.67	-194.23

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