Green Tea 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	486.48	350.17	295.54	16.58
Depreciation & Amortization	480.42	420.12	369.65	324.38
Other Amortization	0.75	0.63	0.33	0.31
Loss (Gain) From Sale of Assets	-0.31	-1.05	0.71	1.26
Asset Writedown & Restructuring Costs	-0.12	-	4.64	-
Stock-Based Compensation	7.72	5.45	0.84	-0.78
Other Operating Activities	43.52	-0.39	63.92	33.63
Change in Accounts Receivable	-55.29	-32.35	-69.5	-30.29
Change in Inventory	5.96	-7.34	-3.18	-9.24
Change in Accounts Payable	87.73	-2.44	128.92	6.94
Change in Unearned Revenue	-1.92	1.17	1.37	4.82
Operating Cash Flow	1,055	733.96	793.24	347.61
Operating Cash Flow Growth	43.73%	-7.47%	128.20%	-
Capital Expenditures	-350.9	-336.36	-306.22	-219.76
Sale of Property, Plant & Equipment	1.24	0.91	-	0.02
Cash Acquisitions	-	-10.4	-	-
Sale (Purchase) of Intangibles	0.01	-1.54	-0.73	-
Investment in Securities	7.04	97.66	-80	-
Other Investing Activities	9.1	1.94	6.52	3.89
Investing Cash Flow	-333.52	-247.79	-380.43	-215.84
Short-Term Debt Issued	1.2	-	50.1	116
Total Debt Issued	1.2	-	50.1	116
Short-Term Debt Repaid	-1.2	-50.1	-31	-85.5
Long-Term Debt Repaid	-265.66	-218.2	-145.8	-119.56
Total Debt Repaid	-266.86	-268.3	-176.8	-205.06
Net Debt Issued (Repaid)	-265.66	-268.3	-126.7	-89.06
Issuance of Common Stock	742.88	-	-	-
Repurchase of Common Stock	-36.08	-	-	-
Common Dividends Paid	-	-350.03	-	-
Other Financing Activities	-0.83	22.84	-64.09	-38.81
Financing Cash Flow	244.56	-595.48	-190.8	-127.87
Foreign Exchange Rate Adjustments	-13.82	0.17	-0.13	-0.71
Net Cash Flow	952.18	-109.14	221.88	3.19
Free Cash Flow	704.05	397.61	487.02	127.85
Free Cash Flow Growth	77.07%	-18.36%	280.92%	-
Free Cash Flow Margin	14.78%	10.36%	13.57%	5.38%
Free Cash Flow Per Share	1.15	0.74	0.91	0.24
Cash Interest Paid	0	0.04	36.83	36.05
Cash Income Tax Paid	80.33	104.55	60.32	17.09
Levered Free Cash Flow	599.94	-89.27	768.9	-
Unlevered Free Cash Flow	633.71	-60.95	795.56	-
Change in Working Capital	36.48	-40.96	57.61	-27.77

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