Anhui Golden Seed Winery Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-258.56	-257.59	-22.07	-187.12	-166.41	69.41
Depreciation & Amortization	59.37	59.37	57.53	51.77	48.54	45.08
Other Amortization	2.92	2.92	-	-	-	-
Loss (Gain) From Sale of Assets	0.03	0.03	-32.77	-0.07	0.36	-204.65
Asset Writedown & Restructuring Costs	5.11	5.11	0.01	0.49	0.31	0.52
Loss (Gain) From Sale of Investments	0.37	0.37	-0.25	-2.29	-10.71	-6.44
Provision & Write-off of Bad Debts	-11.74	-11.74	2.4	-4.05	5.89	0.4
Other Operating Activities	144.83	5.62	0.46	-8.83	-15.23	-21.1
Change in Accounts Receivable	90.57	90.57	88.2	-8.36	-86.78	-56.6
Change in Inventory	-82	-82	-145.11	8.12	-379.58	-135.95
Change in Accounts Payable	-115.19	-115.19	143.71	-310.04	146.56	184.42
Change in Other Net Operating Assets	24.47	24.47	-3.83	-3.8	1.38	-1.25
Operating Cash Flow	-165.71	-303.95	89.31	-461.85	-456.11	-160.29
Capital Expenditures	-78.54	-82.78	-73.17	-67.84	-64.12	-77.6
Sale of Property, Plant & Equipment	0.87	43.39	0.14	0.09	0.8	215.55
Investment in Securities	0.4	4.4	-	101.5	360.78	-270
Other Investing Activities	6.69	6.69	9.21	18.53	32.66	169.6
Investing Cash Flow	-70.58	-28.29	-63.82	52.28	330.12	37.56
Short-Term Debt Issued	-	196.84	-	28.9	-	-
Total Debt Issued	429.89	196.84	-	28.9	-	-
Short-Term Debt Repaid	-	-	-28.9	-	-	-
Total Debt Repaid	-174	-	-28.9	-	-	-
Net Debt Issued (Repaid)	255.89	196.84	-28.9	28.9	-	-
Common Dividends Paid	-3.46	-	-1.1	-	-	-
Other Financing Activities	6.32	16.62	-32.78	42.68	-24.9	-7.08
Financing Cash Flow	258.75	213.46	-62.78	71.58	-24.9	-7.08
Net Cash Flow	22.46	-118.78	-37.29	-337.99	-150.9	-129.81
Free Cash Flow	-244.26	-386.74	16.14	-529.69	-520.23	-237.88
Free Cash Flow Margin	-32.69%	-41.80%	1.10%	-44.67%	-42.95%	-22.92%
Free Cash Flow Per Share	-0.37	-0.59	0.02	-0.79	-0.78	-0.38
Cash Income Tax Paid	192.5	280.23	272.43	162.29	176.43	138.92
Levered Free Cash Flow	-170.71	-243.23	31.69	-425.16	-458.56	-183.86
Unlevered Free Cash Flow	-167.06	-242.34	32.23	-425.01	-458.56	-183.86
Change in Working Capital	-108.03	-108.03	84.01	-311.75	-318.87	-43.51

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.