Nanjing Gaoke Company 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	1,728	1,725	1,560	2,402	2,352
Depreciation & Amortization	92.8	95.5	89.24	88.69	99.2
Other Amortization	4.87	7.92	2.94	2.69	4.05
Loss (Gain) From Sale of Assets	-0.16	-0.03	-0.49	-0	-2.59
Asset Writedown & Restructuring Costs	852.04	0.73	0.63	1.28	73.44
Loss (Gain) From Sale of Investments	-1,999	-2,318	-1,824	-2,163	-2,333
Provision & Write-off of Bad Debts	-	29.66	21.14	-75.53	-178.91
Other Operating Activities	258.19	916.16	770.85	279.18	283.66
Change in Accounts Receivable	-232.45	-80.74	-652.88	-113.92	251.87
Change in Inventory	1,315	-401.69	2,055	-2,584	507.37
Change in Accounts Payable	-962.85	-273.21	-3,998	348.68	-677.79
Operating Cash Flow	980.52	-500.82	-2,177	-1,869	501.49
Capital Expenditures	-55.68	-19.28	-20.11	-5.71	-10.85
Sale of Property, Plant & Equipment	0.17	0.07	0.86	0.01	2.92
Divestitures	-	-	5.72	-	163.92
Investment in Securities	-1,778	249.93	-213.87	-105.42	-1,098
Other Investing Activities	797.26	1,288	854.5	789.63	1,053
Investing Cash Flow	-1,036	1,519	627.1	678.51	111.08
Long-Term Debt Issued	9,359	9,639	13,934	9,979	8,590
Total Debt Issued	9,359	9,639	13,934	9,979	8,590
Long-Term Debt Repaid	-8,291	-10,031	-11,299	-7,856	-8,678
Total Debt Repaid	-8,291	-10,031	-11,299	-7,856	-8,678
Net Debt Issued (Repaid)	1,068	-391.6	2,635	2,123	-87.92
Issuance of Common Stock	-	-	-	110.15	-
Common Dividends Paid	-757.16	-764.15	-818.82	-926.05	-1,012
Other Financing Activities	-14.94	-12.9	-3.47	-2.63	-0.78
Financing Cash Flow	296.37	-1,169	1,813	1,305	-1,101
Net Cash Flow	241.07	-150.65	262.52	114.58	-488.39
Free Cash Flow	924.84	-520.1	-2,198	-1,874	490.65
Free Cash Flow Margin	27.06%	-26.26%	-46.43%	-41.75%	9.94%
Free Cash Flow Per Share	0.54	-0.30	-1.27	-1.08	0.28
Cash Income Tax Paid	186.35	117.39	918.33	647.11	261.68
Levered Free Cash Flow	2,319	-467.45	-2,378	-2,115	84.21
Unlevered Free Cash Flow	2,319	-334.47	-2,236	-2,000	214.96
Change in Working Capital	43.9	-957.63	-2,786	-2,375	217.92

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