China Feihe 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 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,570	3,390	4,942	6,871
Depreciation & Amortization	648.5	607.93	494.44	443.35
Loss (Gain) From Sale of Assets	-3.11	0.66	41.78	15.02
Asset Writedown & Restructuring Costs	614.5	840.07	397.03	245.16
Loss (Gain) From Sale of Investments	-91.34	-99.51	-93.61	-118.82
Loss (Gain) on Equity Investments	12.18	7.41	17.25	15.59
Stock-Based Compensation	54.16	162.66	61.3	130.12
Provision & Write-off of Bad Debts	81.46	0.96	5.83	-19.03
Other Operating Activities	-1.82	-426.92	-414.85	2.62
Change in Accounts Receivable	32.81	-1.15	41.43	-162.16
Change in Inventory	29.39	-301.78	-295.23	-416.55
Change in Accounts Payable	-270.89	63.35	487.71	49.73
Change in Other Net Operating Assets	-496.67	-98.34	593.95	-241.14
Operating Cash Flow	4,179	4,145	6,279	6,815
Operating Cash Flow Growth	0.82%	-33.98%	-7.86%	-12.04%
Capital Expenditures	-1,499	-1,536	-2,478	-2,020
Sale of Property, Plant & Equipment	159.85	224.9	192.71	232.93
Cash Acquisitions	-	-	-135.88	-267.9
Divestitures	39.4	-	-	-
Investment in Securities	-174.95	1,677	-2,407	-614.23
Other Investing Activities	157.73	20.98	24.08	224.76
Investing Cash Flow	-1,317	386.7	-4,804	-2,444
Long-Term Debt Issued	369.67	682.65	866.53	-
Long-Term Debt Repaid	-783.17	-707.57	-561.14	-488.55
Net Debt Issued (Repaid)	-413.5	-24.92	305.39	-488.55
Repurchase of Common Stock	-18.15	-127.1	-148.17	-364.61
Common Dividends Paid	-2,600	-2,553	-2,133	-3,392
Financing Cash Flow	-3,032	-2,705	-1,975	-4,245
Foreign Exchange Rate Adjustments	-63.63	41.16	90.49	-48.55
Net Cash Flow	-232.77	1,868	-409.43	76.71
Free Cash Flow	2,680	2,610	3,801	4,795
Free Cash Flow Growth	2.71%	-31.34%	-20.73%	-30.37%
Free Cash Flow Margin	12.92%	13.36%	17.84%	21.05%
Free Cash Flow Per Share	0.30	0.29	0.42	0.53
Cash Interest Paid	41.16	58.16	66.45	48.36
Cash Income Tax Paid	2,080	1,852	2,062	2,736
Levered Free Cash Flow	1,630	1,316	1,722	2,889
Unlevered Free Cash Flow	1,658	1,350	1,743	2,907
Change in Working Capital	-705.36	-337.93	827.86	-770.11

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.