Liuzhou Liangmianzhen 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	20.57	81.1	22.81	-38.59	8.66	58.05
Depreciation & Amortization	29.17	29.17	26.85	31.51	31.11	30.32
Other Amortization	2.93	2.93	1.43	1.38	1.64	2.34
Loss (Gain) From Sale of Assets	-	-	-	-	-0.14	-0.58
Asset Writedown & Restructuring Costs	0.55	0.55	0.53	2.62	0.96	0.06
Loss (Gain) From Sale of Investments	-111.1	-111.1	-25.73	29.61	5.96	-55.69
Provision & Write-off of Bad Debts	0.69	0.69	-0.38	4	2.1	8.12
Other Operating Activities	114.38	3.95	6.9	1.35	3.48	4.35
Change in Accounts Receivable	-4.8	-4.8	-10.45	-13.51	-50.08	-12.34
Change in Inventory	-10.98	-10.98	-63.5	-4.48	-38.3	24.2
Change in Accounts Payable	-0.66	-0.66	78.64	27.09	-12.2	-50.89
Operating Cash Flow	64.19	14.28	38.37	27.58	-54.1	15.79
Operating Cash Flow Growth	73.68%	-62.78%	39.12%	-	-	-82.22%
Capital Expenditures	-37.61	-29.77	-26.55	-22.11	-26.2	-21.55
Sale of Property, Plant & Equipment	-	0.01	0.36	0.19	0.52	1.08
Investment in Securities	-5.25	-	-	-6.85	32.13	3.09
Other Investing Activities	18.37	23.35	21.1	19.53	661.52	65.07
Investing Cash Flow	-24.49	-6.4	-5.09	-9.24	667.97	47.69
Short-Term Debt Issued	-	95	83	43	75	73
Total Debt Issued	105	95	83	43	75	73
Short-Term Debt Repaid	-	-87	-44	-75	-73	-90
Long-Term Debt Repaid	-	-	-	-	-	-150
Total Debt Repaid	-98	-87	-44	-75	-73	-240
Net Debt Issued (Repaid)	7	8	39	-32	2	-167
Common Dividends Paid	-18.89	-18.76	-1.93	-2.04	-2.78	-3.23
Other Financing Activities	-2.54	-2.54	-2.26	-0.15	0.32	-0.92
Financing Cash Flow	-14.43	-13.3	34.8	-34.19	-0.46	-171.15
Foreign Exchange Rate Adjustments	0.32	0.48	0.02	0.05	-0.42	-1.34
Net Cash Flow	25.59	-4.94	68.1	-15.8	613	-109.01
Free Cash Flow	26.58	-15.49	11.82	5.47	-80.3	-5.76
Free Cash Flow Growth	396.40%	-	116.16%	-	-	-
Free Cash Flow Margin	2.47%	-1.47%	1.19%	0.82%	-11.19%	-0.84%
Free Cash Flow Per Share	0.05	-0.03	0.02	0.01	-0.15	-0.01
Cash Income Tax Paid	36.63	29.94	38.46	16.29	33.23	38.6
Levered Free Cash Flow	2.65	-50.68	-9.76	-13.66	534.15	7.11
Unlevered Free Cash Flow	4.55	-49.22	-8.68	-12.78	534.97	7.96
Change in Working Capital	6.99	6.99	5.96	-4.31	-107.86	-31.18

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