Flat Glass 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	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	992.61	1,016	2,760	2,123	2,120
Depreciation & Amortization	1,980	2,015	1,834	1,310	543.91
Other Amortization	66.37	37.86	11.57	2.72	2.24
Loss (Gain) From Sale of Assets	90.85	65.98	7.09	8.9	-3.6
Asset Writedown & Restructuring Costs	119.2	277.44	21.89	-	-
Loss (Gain) From Sale of Investments	-33.59	-53.12	-26.26	-12.86	-31.89
Stock-Based Compensation	5.64	12.21	19.04	31.95	37.01
Provision & Write-off of Bad Debts	-6.39	-63.24	77.63	30.22	-26.22
Other Operating Activities	542.59	618.94	618.25	394.32	85.35
Change in Accounts Receivable	-206.28	498.12	-3,767	-4,736	-1,307
Change in Inventory	-80.88	189.83	364.48	-122.94	-1,807
Change in Accounts Payable	-493.35	1,380	-126.96	1,203	883.02
Change in Other Net Operating Assets	18.22	19.79	23.83	13.21	3
Operating Cash Flow	2,911	5,913	1,967	176.9	579.73
Operating Cash Flow Growth	-50.77%	200.59%	1012.04%	-69.49%	-65.92%
Capital Expenditures	-2,880	-4,886	-5,612	-8,071	-3,769
Sale of Property, Plant & Equipment	80.07	10.53	21.83	10.16	8.93
Cash Acquisitions	-81.77	-	-	-4.5	-
Investment in Securities	-45.78	-810.36	-228	198	125.65
Other Investing Activities	3.3	134.56	-7.03	-1.34	71.56
Investing Cash Flow	-2,924	-5,551	-5,826	-7,869	-3,563
Long-Term Debt Issued	5,276	7,937	11,027	12,527	3,542
Long-Term Debt Repaid	-6,094	-7,489	-8,611	-4,051	-1,375
Net Debt Issued (Repaid)	-817.8	447.65	2,416	8,476	2,167
Issuance of Common Stock	-	-	6,039	-	2,510
Repurchase of Common Stock	-74.77	-337.39	-	-	-
Common Dividends Paid	-335.8	-1,571	-944.07	-741.17	-413.88
Other Financing Activities	479.59	115.85	-509.45	118.9	-308.44
Financing Cash Flow	-748.78	-1,345	7,002	7,854	3,954
Foreign Exchange Rate Adjustments	-30.82	15.44	16.64	55.72	-15.81
Net Cash Flow	-792.2	-967.69	3,160	217.35	955.56
Free Cash Flow	31.58	1,027	-3,645	-7,894	-3,189
Free Cash Flow Growth	-96.93%	-	-	-	-
Free Cash Flow Margin	0.20%	5.50%	-16.94%	-51.06%	-36.60%
Free Cash Flow Per Share	0.01	0.44	-1.63	-3.68	-1.49
Cash Income Tax Paid	470.49	444.12	453	-20.21	217.3
Levered Free Cash Flow	-439.49	-595.22	-2,606	-6,803	-2,608
Unlevered Free Cash Flow	-117.81	-239.09	-2,237	-6,592	-2,551
Change in Working Capital	-845.81	1,986	-3,355	-3,711	-2,147

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