Zhaoke Ophthalmology 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	-208.98	-237.49	-385.04	-407.32	-2,130
Depreciation & Amortization	42.8	44.03	42.09	34.87	25.77
Other Amortization	9.52	9.54	6.62	0.21	0.06
Loss (Gain) From Sale of Assets	-	-0.56	-	-	-
Loss (Gain) From Sale of Investments	-2.33	4.16	-	-	-
Stock-Based Compensation	6.23	8.67	22.02	46.68	109.86
Other Operating Activities	-63.97	-40.37	-68.71	-6.14	1,746
Change in Accounts Receivable	-5.14	-5.24	14.76	-27.66	-28.82
Change in Inventory	0.27	-8.76	-6.14	-	-
Change in Accounts Payable	-38.5	-29.71	54.41	35.14	5.23
Change in Unearned Revenue	-0.08	-0.08	0.74	-0.04	-0.04
Change in Other Net Operating Assets	-0.02	2.11	-4.42	-6.79	26.55
Operating Cash Flow	-260.2	-253.72	-323.66	-331.05	-245.14
Capital Expenditures	-4.37	-10.1	-36.47	-78.65	-65.53
Sale of Property, Plant & Equipment	0.43	3.62	20.49	23.78	-
Sale (Purchase) of Intangibles	-0.47	-33.97	-58.8	-159.9	-28.96
Investment in Securities	69.08	-72.75	9.78	-	787.94
Other Investing Activities	44.44	-3.25	-10.78	-109.8	-9.93
Investing Cash Flow	109.12	-116.45	-75.77	-324.57	683.52
Short-Term Debt Issued	153.59	108.81	120.82	93.81	0.69
Total Debt Issued	153.59	108.81	120.82	93.81	0.69
Short-Term Debt Repaid	-95.82	-102.78	-8.74	-9.6	-0.4
Long-Term Debt Repaid	-5.61	-8.37	-8.76	-6.09	-4.15
Total Debt Repaid	-101.43	-111.15	-17.5	-15.69	-4.55
Net Debt Issued (Repaid)	52.16	-2.34	103.32	78.12	-3.86
Issuance of Common Stock	1.77	-	1.85	1.25	1,743
Other Financing Activities	-8.3	-9.78	-5.88	-3.14	-80.96
Financing Cash Flow	45.63	-12.12	99.29	76.23	1,659
Foreign Exchange Rate Adjustments	-56.24	41.68	45.41	167.31	-33.56
Net Cash Flow	-161.69	-340.62	-254.73	-412.08	2,063
Free Cash Flow	-264.57	-263.82	-360.13	-409.7	-310.67
Free Cash Flow Margin	-827.45%	-380.56%	-1920.70%	-	-
Free Cash Flow Per Share	-0.48	-0.48	-0.66	-0.76	-0.75
Cash Interest Paid	8.3	9.78	5.88	3.14	1.95
Levered Free Cash Flow	-156.93	-289.06	-368.59	-574.21	-205.42
Unlevered Free Cash Flow	-151.25	-283.13	-363.64	-572.24	-204.2
Change in Working Capital	-43.47	-41.69	59.35	0.65	2.91

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