China Spacesat 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	24.05	27.91	157.54	285.24	234.46
Depreciation & Amortization	358.73	263.39	311.88	353.48	381.8
Other Amortization	2.65	131.61	8.29	7.43	8.91
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0.16	-0.01	1.49
Asset Writedown & Restructuring Costs	53.18	32.52	0.21	0.18	-
Loss (Gain) From Sale of Investments	-11.58	-16.99	-6.81	-83.08	-1.63
Provision & Write-off of Bad Debts	-	118.44	75.94	26.75	13.75
Other Operating Activities	-8.72	-25.48	54.64	110.26	120.28
Change in Accounts Receivable	632.64	-65	-1,453	-596.35	608.35
Change in Inventory	-228.92	-360.75	112.02	447.86	-610.61
Change in Accounts Payable	-453.69	-390.94	-315.22	-253.62	1,307
Change in Other Net Operating Assets	-	-	-0.88	0.2	3.01
Operating Cash Flow	363.33	-316.77	-1,068	285.13	2,063
Operating Cash Flow Growth	-	-	-	-86.18%	-
Capital Expenditures	-211.2	-206.57	-218.89	-172.37	-269.99
Sale of Property, Plant & Equipment	0.04	0.05	0.32	0.03	0.18
Divestitures	-	-	-	-3.15	-
Investment in Securities	-	-5.89	4.21	84.45	-
Other Investing Activities	-551.45	-	0.42	2.73	0.84
Investing Cash Flow	-762.61	-212.42	-213.94	-88.31	-268.98
Short-Term Debt Issued	-	504.23	470.7	432.66	287.44
Long-Term Debt Issued	832.8	-	-	-	-
Total Debt Issued	832.8	504.23	470.7	432.66	287.44
Short-Term Debt Repaid	-	-498.81	-497	-276.83	-289.8
Long-Term Debt Repaid	-574.87	-75.36	-135.59	-148.73	-69.39
Total Debt Repaid	-574.87	-574.17	-632.59	-425.56	-359.2
Net Debt Issued (Repaid)	257.93	-69.94	-161.89	7.1	-71.76
Common Dividends Paid	-22.19	-56.45	-96.51	-78.22	-126.13
Other Financing Activities	-158.75	-22.48	-31.53	34.15	71.62
Financing Cash Flow	77	-148.87	-289.93	-36.96	-126.26
Net Cash Flow	-322.28	-678.05	-1,572	159.86	1,668
Free Cash Flow	152.14	-523.34	-1,287	112.76	1,793
Free Cash Flow Growth	-	-	-	-93.71%	-
Free Cash Flow Margin	2.49%	-10.15%	-18.70%	1.37%	25.08%
Free Cash Flow Per Share	0.13	-0.38	-1.06	0.10	1.53
Cash Income Tax Paid	94.96	70.72	118.98	55.94	63.92
Levered Free Cash Flow	257.03	-319.83	-1,400	396.54	1,899
Unlevered Free Cash Flow	257.03	-307.9	-1,386	404.13	1,913
Change in Working Capital	-54.97	-847.19	-1,670	-415.42	1,304

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