Linhai Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	25.22	24.55	18.43	13.31	9.32	9.51
Depreciation & Amortization	13.74	13.74	13.35	12.57	11.49	12.7
Other Amortization	0.32	0.32	0.52	0.48	0.33	0.3
Loss (Gain) From Sale of Assets	-	-	-	-	-	1.27
Asset Writedown & Restructuring Costs	-0.01	-0.01	0.42	-0.27	-0.17	-
Loss (Gain) From Sale of Investments	-0.78	-0.78	-0.07	-0.14	-	-
Provision & Write-off of Bad Debts	4.68	4.68	6.17	10.72	6.72	4.03
Other Operating Activities	-16.36	-2.49	-1.88	1.69	1.04	3.42
Change in Accounts Receivable	-60.65	-60.65	-61.97	13.04	-11.36	-92.8
Change in Inventory	12.41	12.41	-17.59	42.36	-22.99	-19.91
Change in Accounts Payable	138.43	138.43	163.7	64	48.44	75.75
Operating Cash Flow	113.42	126.61	117.38	156.03	41.34	-6.72
Operating Cash Flow Growth	24.58%	7.87%	-24.77%	277.47%	-	-
Capital Expenditures	-9.26	-14.68	-25.52	-29.84	-12.05	-6.24
Sale of Property, Plant & Equipment	0.02	0.01	0.21	0.07	0.1	0
Investment in Securities	-70	-70	-140	-	-120	-
Other Investing Activities	-64.89	5.16	6	0.23	-	-
Investing Cash Flow	-144.12	-79.5	-159.31	-29.54	-131.95	-6.24
Long-Term Debt Issued	-	-	-	30	30	-
Total Debt Issued	-	-	-	30	30	-
Long-Term Debt Repaid	-	-30	-	-30	-	-
Total Debt Repaid	-30	-30	-	-30	-	-
Net Debt Issued (Repaid)	-30	-30	-	-	30	-
Common Dividends Paid	-6.85	-7.03	-5.56	-7.48	-0.19	-
Financing Cash Flow	-36.85	-37.03	-5.56	-7.48	29.81	-
Foreign Exchange Rate Adjustments	-2.97	0.06	6.81	0.9	1.81	-0.62
Net Cash Flow	-70.53	10.13	-40.68	119.91	-59.01	-13.58
Free Cash Flow	104.16	111.93	91.86	126.19	29.29	-12.96
Free Cash Flow Growth	64.81%	21.85%	-27.21%	330.85%	-	-
Free Cash Flow Margin	8.78%	9.89%	8.74%	18.16%	4.01%	-1.54%
Free Cash Flow Per Share	0.48	0.51	0.42	0.58	0.14	-0.06
Cash Income Tax Paid	-	-40.66	-29.57	-20.24	-54.53	1.65
Levered Free Cash Flow	143.33	87.79	89.19	122.83	12.2	-10.37
Unlevered Free Cash Flow	143.51	88.07	89.66	123.41	12.44	-10.37
Change in Working Capital	86.59	86.59	80.45	117.67	12.62	-37.95

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