Shanghai Iluvatar CoreX Semiconductor Co., Ltd. (HKG:9903)

HKG:9903 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Net Income	-1,004	-892.43	-791.31	-523.84
Depreciation & Amortization	173.22	123.55	93.58	76.49
Other Amortization	-	45.22	24.69	13.87
Loss (Gain) From Sale of Assets	-	1.26	4.55	2.42
Loss (Gain) From Sale of Investments	-	-0.84	-0.7	-1.11
Stock-Based Compensation	-	247.77	207.76	120.84
Provision & Write-off of Bad Debts	-	18.04	21.59	19.02
Other Operating Activities	-331.15	11.12	0.02	-23.28
Change in Accounts Receivable	-	-194.91	-132.85	-107.59
Change in Inventory	-	-114.83	-3.85	-211.95
Change in Accounts Payable	-	27.49	-67.1	80.99
Change in Unearned Revenue	-	-0.69	16.65	15
Change in Other Net Operating Assets	-	111.27	-80.06	-114.7
Operating Cash Flow	-1,162	-617.98	-707.03	-653.85
Capital Expenditures	-	-84.84	-70.68	-82.17
Sale (Purchase) of Intangibles	-	-92.58	-57.8	-73.4
Investment in Securities	-	-5	-31.82	-37.67
Other Investing Activities	-132.25	16.44	6.81	10.16
Investing Cash Flow	-132.25	-165.98	-153.49	-183.08
Long-Term Debt Issued	-	730	498	203.69
Long-Term Debt Repaid	-	-633.98	-122.71	-154.95
Net Debt Issued (Repaid)	-	96.02	375.29	48.74
Issuance of Common Stock	-	728.41	564.9	935.01
Repurchase of Common Stock	-	-14.82	-	-
Other Financing Activities	2,491	-20.14	6.29	-30.58
Financing Cash Flow	2,491	789.47	946.48	953.16
Foreign Exchange Rate Adjustments	-5.91	-	2.78	7.33
Net Cash Flow	1,191	5.51	88.75	123.57
Free Cash Flow	-1,162	-702.82	-777.71	-736.02
Free Cash Flow Margin	-112.38%	-130.27%	-269.06%	-388.67%
Free Cash Flow Per Share	-6.15	-4.29	-5.33	-5.61
Cash Interest Paid	-	16.52	10.42	6.03
Levered Free Cash Flow	-843.26	-166.24	-785.85	-
Unlevered Free Cash Flow	-830.38	-155.38	-778.97	-
Change in Working Capital	-	-171.67	-267.21	-338.26

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