Sunpower 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	312.89	119.44	175.77	138.8	816.2
Depreciation & Amortization	266.93	270.83	241.58	203.64	176.99
Other Amortization	0.24	0.24	-	-	-
Loss (Gain) From Sale of Assets	1.32	1.31	0.31	-6.78	-965.31
Asset Writedown & Restructuring Costs	-	0.63	2.12	-	-
Loss (Gain) on Equity Investments	-10.54	-6.52	-5.06	-1.65	-1.94
Provision & Write-off of Bad Debts	17.38	128.35	17.2	2.05	15.14
Other Operating Activities	190.68	216.03	190.14	29.66	188.89
Change in Accounts Receivable	-61.05	-188.57	-181.45	-216.91	-574.38
Change in Inventory	28.81	-28.98	38.54	-52.61	-428.98
Change in Accounts Payable	-3.7	80.9	-111.33	245.36	1,295
Change in Other Net Operating Assets	30.88	66.27	81.08	11.54	-247.48
Operating Cash Flow	791.66	622.28	463.22	305.17	207.28
Operating Cash Flow Growth	27.22%	34.34%	51.79%	47.23%	-59.57%
Capital Expenditures	-40.03	-33.98	-81.25	-118.04	-129.61
Sale of Property, Plant & Equipment	0.09	0.04	0.12	6.4	45.31
Cash Acquisitions	-11.58	-11.71	-	-7.18	-8.2
Divestitures	-	-	1.4	0.57	1,403
Sale (Purchase) of Intangibles	-96.43	-142.14	-343.98	-474.98	-853.69
Investment in Securities	-30.23	-	-	-31.48	-6.8
Other Investing Activities	4.9	-	-	-	38.04
Investing Cash Flow	-173.28	-187.8	-423.71	-624.71	488.13
Long-Term Debt Issued	1,744	1,727	1,085	1,635	2,301
Long-Term Debt Repaid	-3,107	-1,449	-1,046	-1,030	-1,733
Net Debt Issued (Repaid)	-1,363	278.09	38.86	604.78	568.33
Issuance of Common Stock	539.96	-	-	-	7.48
Common Dividends Paid	-	-	-5.53	-	-11.46
Other Financing Activities	-143.87	-181.82	4.98	-98.56	-470.67
Financing Cash Flow	-966.74	96.27	38.32	506.21	-831.46
Foreign Exchange Rate Adjustments	-	-	-	0.19	-0.04
Net Cash Flow	-348.37	530.76	77.82	186.87	-136.09
Free Cash Flow	751.62	588.3	381.97	187.14	77.68
Free Cash Flow Growth	27.76%	54.02%	104.12%	140.91%	-80.00%
Free Cash Flow Margin	22.53%	16.78%	11.22%	5.43%	2.65%
Free Cash Flow Per Share	0.94	0.74	0.48	0.13	0.07
Cash Interest Paid	173.77	194.07	222.1	179.78	586.52
Cash Income Tax Paid	155.78	126.38	87.49	69.58	83.03
Levered Free Cash Flow	442.31	217.85	-371.72	-354.72	-892.54
Unlevered Free Cash Flow	562.41	386.56	-197.5	-209.42	-493.4
Change in Working Capital	12.77	-108.02	-158.83	-60.54	-22.69

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