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	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	-198.5	-257.59	-22.07	-187.12	-166.41
Depreciation & Amortization	65.23	59.37	57.53	51.77	48.54
Other Amortization	0.74	2.92	-	-	-
Loss (Gain) From Sale of Assets	0.11	0.03	-32.77	-0.07	0.36
Asset Writedown & Restructuring Costs	21.24	5.11	0.01	0.49	0.31
Loss (Gain) From Sale of Investments	-13.99	0.37	-0.25	-2.29	-10.71
Provision & Write-off of Bad Debts	-	-11.74	2.4	-4.05	5.89
Other Operating Activities	7.06	5.62	0.46	-8.83	-15.23
Change in Accounts Receivable	14.87	90.57	88.2	-8.36	-86.78
Change in Inventory	-44.64	-82	-145.11	8.12	-379.58
Change in Accounts Payable	-66.85	-115.19	143.71	-310.04	146.56
Change in Other Net Operating Assets	-4.72	24.47	-3.83	-3.8	1.38
Operating Cash Flow	-218.94	-303.95	89.31	-461.85	-456.11
Capital Expenditures	-65.75	-82.78	-73.17	-67.84	-64.12
Sale of Property, Plant & Equipment	0.73	43.39	0.14	0.09	0.8
Divestitures	91.92	-	-	-	-
Investment in Securities	-100	4.4	-	101.5	360.78
Other Investing Activities	-	6.69	9.21	18.53	32.66
Investing Cash Flow	-73.1	-28.29	-63.82	52.28	330.12
Short-Term Debt Issued	-	196.84	-	28.9	-
Long-Term Debt Issued	478.4	-	-	-	-
Total Debt Issued	478.4	196.84	-	28.9	-
Short-Term Debt Repaid	-	-	-28.9	-	-
Long-Term Debt Repaid	-279.99	-	-	-	-
Total Debt Repaid	-279.99	-	-28.9	-	-
Net Debt Issued (Repaid)	198.41	196.84	-28.9	28.9	-
Common Dividends Paid	-6.65	-	-1.1	-	-
Other Financing Activities	-12.46	16.62	-32.78	42.68	-24.9
Financing Cash Flow	179.3	213.46	-62.78	71.58	-24.9
Net Cash Flow	-112.75	-118.78	-37.29	-337.99	-150.9
Free Cash Flow	-284.69	-386.74	16.14	-529.69	-520.23
Free Cash Flow Margin	-39.43%	-41.80%	1.10%	-44.67%	-42.95%
Free Cash Flow Per Share	-0.43	-0.59	0.02	-0.79	-0.78
Cash Income Tax Paid	186.66	280.23	272.43	162.29	176.43
Levered Free Cash Flow	-147.92	-243.23	31.69	-425.16	-458.56
Unlevered Free Cash Flow	-147.92	-242.34	32.23	-425.01	-458.56
Change in Working Capital	-100.84	-108.03	84.01	-311.75	-318.87

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