Changjiu Holdings 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	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	161.41	102.32	95.88	83.73	114.11
Depreciation & Amortization	7.69	7.84	5.72	4.14	4.43
Other Amortization	1.41	1.17	0.79	0.86	0.81
Loss (Gain) From Sale of Investments	-0.02	-	-	-	-
Stock-Based Compensation	8.44	27.65	-	-	-
Provision & Write-off of Bad Debts	0.37	1.3	2.21	-0.09	0.33
Other Operating Activities	3.31	-11.25	20.06	20.74	-2.94
Change in Accounts Receivable	-39.07	-59.87	-43.66	-19.81	3.25
Change in Accounts Payable	0.07	1.09	3.04	-0.27	2.2
Change in Unearned Revenue	-13.85	-15.52	-10.5	16.77	2.7
Change in Other Net Operating Assets	-23.44	20.61	8.5	8.66	-0.67
Operating Cash Flow	106.31	75.35	82.03	114.73	124.23
Operating Cash Flow Growth	41.08%	-8.14%	-28.50%	-7.64%	-
Capital Expenditures	-0.85	-1.06	-1.02	-1.11	-0.96
Sale (Purchase) of Intangibles	-3.3	-3.46	-	-	-
Investment in Securities	-27	-	-	-	-
Other Investing Activities	2.76	8.25	114.81	-47.02	-73.55
Investing Cash Flow	-28.4	3.74	118.58	-52.94	-74.51
Short-Term Debt Issued	27.61	45	75	50	50
Total Debt Issued	27.61	45	75	50	50
Short-Term Debt Repaid	-47.61	-100	-50	-50	-
Long-Term Debt Repaid	-7.6	-7.7	-4.11	-2.5	-1.93
Total Debt Repaid	-55.21	-107.7	-54.11	-52.5	-1.93
Net Debt Issued (Repaid)	-27.6	-62.7	20.89	-2.5	48.07
Issuance of Common Stock	266.58	4.33	-	-	-
Common Dividends Paid	-79.4	-	-	-55.15	-115.23
Other Financing Activities	-2.38	-5.73	-103.7	-2.71	-0.82
Financing Cash Flow	157.2	-64.1	-82.81	-60.35	-67.98
Foreign Exchange Rate Adjustments	2.93	-0.1	-	-	-
Net Cash Flow	238.04	14.89	117.81	1.44	-18.26
Free Cash Flow	105.46	74.3	81.01	113.62	123.27
Free Cash Flow Growth	41.94%	-8.28%	-28.70%	-7.83%	-
Free Cash Flow Margin	15.56%	11.58%	14.79%	23.79%	28.63%
Free Cash Flow Per Share	0.52	0.49	0.54	0.76	0.82
Cash Interest Paid	0.19	1.95	3.17	2.71	0.82
Cash Income Tax Paid	28.97	29.03	15.33	1.64	-
Levered Free Cash Flow	63.34	65.11	182.35	75.07	-
Unlevered Free Cash Flow	63.66	66.74	184.52	76.94	-
Change in Working Capital	-76.29	-53.69	-42.63	5.35	7.49

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