JD Health International 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	5,375	4,162	2,142	380.11	-1,074
Depreciation & Amortization	279.99	214.7	227.46	140.68	63.17
Loss (Gain) From Sale of Investments	400	-1,345	-93.51	106.17	-94.21
Loss (Gain) on Equity Investments	-	85.53	70.76	96.76	94.17
Stock-Based Compensation	600	1,130	1,848	2,104	2,580
Provision & Write-off of Bad Debts	-	315.85	69.86	98.2	38.35
Other Operating Activities	-81.45	-754.53	126.21	129.82	-204.17
Change in Accounts Receivable	-	-212.71	537.14	-685.08	-331.4
Change in Inventory	-	-523.37	791.61	-3,151	-1,286
Change in Accounts Payable	-	759.93	-865.58	5,041	2,585
Change in Unearned Revenue	-	132.31	-969.35	979.54	215.95
Change in Other Net Operating Assets	3,600	368.56	720.57	665.08	843.36
Operating Cash Flow	10,174	4,332	4,605	5,905	3,431
Operating Cash Flow Growth	134.84%	-5.92%	-22.02%	72.13%	-7.26%
Capital Expenditures	-	-38.6	-61.18	-40.16	-502.21
Sale (Purchase) of Intangibles	-	-	-	-2,233	-7.88
Investment in Securities	-500	3,210	-7,971	-1,957	-17,247
Other Investing Activities	-90.65	-25.04	9.48	-5.41	5.18
Investing Cash Flow	-590.65	3,146	-8,023	-4,236	-17,752
Long-Term Debt Repaid	-68.1	-37.41	-33.83	-47.56	-32.33
Total Debt Repaid	-68.1	-37.41	-33.83	-47.56	-32.33
Net Debt Issued (Repaid)	-68.1	-37.41	-33.83	-47.56	-32.33
Repurchase of Common Stock	-	-	-69.1	-869.04	-56.3
Other Financing Activities	-11.05	-8.19	-14.27	-8.85	-75.02
Financing Cash Flow	-79.15	-45.61	-117.2	-925.45	-163.65
Foreign Exchange Rate Adjustments	-348.35	158.64	-145.38	721.27	-533.41
Net Cash Flow	9,156	7,592	-3,681	1,465	-15,018
Free Cash Flow	10,174	4,294	4,544	5,865	2,929
Free Cash Flow Growth	136.95%	-5.50%	-22.53%	100.27%	-20.50%
Free Cash Flow Margin	13.85%	7.38%	8.49%	12.55%	9.54%
Free Cash Flow Per Share	3.18	1.36	1.44	1.86	0.95
Cash Interest Paid	-	8.19	9.49	8.85	4.91
Cash Income Tax Paid	300	634.59	496.91	153.01	249.98
Levered Free Cash Flow	6,219	2,353	2,753	3,164	3,222
Unlevered Free Cash Flow	6,226	2,358	2,759	3,170	3,225
Change in Working Capital	3,600	524.74	214.38	2,849	2,027

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.