Minfeng Special Paper Co.,Ltd. (SHA:600235)

Minfeng Special Paper Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7.98	16.28	72	46.73	15.4	58.31
Depreciation & Amortization	99.3	94.51	72.51	73.26	73.13	70.78
Other Amortization	1.09	1.09	0.82	0.55	0.55	0.55
Loss (Gain) From Sale of Assets	-0.81	-0.59	0.02	-0.1	-	0.02
Asset Writedown & Restructuring Costs	0.44	0.44	0.16	0.07	1.57	0.31
Loss (Gain) From Sale of Investments	-0.24	-5.47	0.16	-2.98	-0.32	1.15
Provision & Write-off of Bad Debts	-3.01	-3.01	-2.76	-2.03	-1.47	2.6
Other Operating Activities	40.39	35.73	23.24	32.45	31.71	27.81
Change in Accounts Receivable	-15.66	79.49	-19.6	-40.99	44.22	-72.52
Change in Inventory	-33.59	-75.36	44.23	-90.62	32.2	2.83
Change in Accounts Payable	181.56	146.7	71.18	12.89	-8.98	4.41
Operating Cash Flow	259.71	271.52	261.96	29.22	188	96.24
Operating Cash Flow Growth	63.21%	3.65%	796.56%	-84.46%	95.34%	-27.27%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-119.86	-185.82	-650.62	-246.95	-41.01	-48.93
Sale of Property, Plant & Equipment	112.34	1.73	0.31	0.18	0.04	0.87
Investment in Securities	0.9	0.9	-	1.02	0.5	0.8
Other Investing Activities	4.6	5	11.07	1.5	-	-
Investing Cash Flow	-2.02	-178.2	-639.24	-244.24	-40.48	-47.26

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	-	820.27
Long-Term Debt Issued	-	765.11	1,330	917.48	666.02	-
Total Debt Issued	715.86	765.11	1,330	917.48	666.02	820.27
Short-Term Debt Repaid	-	-	-	-	-	-865.78
Long-Term Debt Repaid	-	-859.78	-925.02	-670.54	-727.48	-
Total Debt Repaid	-831.78	-859.78	-925.02	-670.54	-727.48	-865.78
Net Debt Issued (Repaid)	-115.92	-94.67	405.03	246.94	-61.46	-45.52
Common Dividends Paid	-41.88	-39.05	-49.13	-25.27	-28.63	-29.34
Other Financing Activities	-	31.5	30.21	-20.56	8.85	-47.59
Financing Cash Flow	-157.79	-102.22	386.11	201.11	-81.24	-122.45

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	0.06	0.14	-0.03	-0.28	1.1	6.31
Net Cash Flow	99.96	-8.76	8.8	-14.19	67.38	-67.16

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	139.86	85.7	-388.66	-217.73	146.99	47.31
Free Cash Flow Growth	-	-	-	-	210.67%	-48.73%
Free Cash Flow Margin	11.55%	7.12%	-26.64%	-13.46%	8.79%	3.10%
Free Cash Flow Per Share	0.43	0.26	-1.08	-0.61	0.38	0.14
Levered Free Cash Flow	-48.45	-145.26	-249.92	-257.25	127.54	46.54
Unlevered Free Cash Flow	-32.46	-129.27	-239.31	-244.27	142.27	63.04

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	-	-49.63	21.39	28.83	87.43	49.74
Change in Working Capital	114.58	132.55	95.81	-118.72	67.43	-65.28

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 26, 2026

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