Bluestar Adisseo Company 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	1,155	1,204	52.17	1,247	1,472
Depreciation & Amortization	1,405	1,573	1,707	1,321	1,178
Other Amortization	182.59	17.75	17.77	14.85	15.54
Loss (Gain) From Sale of Assets	1.37	1.02	5.24	1.02	11.35
Asset Writedown & Restructuring Costs	44.82	-	142.81	13.16	22.58
Loss (Gain) From Sale of Investments	141.43	101.86	14.56	9.59	16.59
Provision & Write-off of Bad Debts	65.09	7.21	32.52	3.53	2.2
Other Operating Activities	119.93	113.86	86.66	142.56	123.08
Change in Accounts Receivable	-130.68	-279.28	641.52	-459.48	-351.76
Change in Inventory	198.58	-580.14	596.82	-288.22	-475.49
Change in Accounts Payable	228.3	843.29	-333.11	-303.04	670.46
Change in Unearned Revenue	-30.24	-11.73	-15.6	-11.63	-12.12
Operating Cash Flow	3,331	2,945	2,764	1,729	2,602
Operating Cash Flow Growth	13.11%	6.53%	59.89%	-33.56%	-3.93%
Capital Expenditures	-3,702	-1,623	-1,447	-1,542	-2,314
Sale of Property, Plant & Equipment	1.37	9.86	0.56	11.67	0.54
Cash Acquisitions	-	-	-164.24	-	-
Investment in Securities	-3.07	-13.12	-7.45	-23.89	-56.49
Other Investing Activities	449.35	-7.94	-216.42	-246.03	-72.97
Investing Cash Flow	-3,255	-1,634	-1,835	-1,801	-2,443
Long-Term Debt Issued	1,417	256.97	690.16	2,217	0.18
Long-Term Debt Repaid	-919.96	-991.97	-962.5	-1,270	-61.95
Net Debt Issued (Repaid)	497.02	-735	-272.34	947.05	-61.76
Issuance of Common Stock	2,993	-	-	-	-
Common Dividends Paid	-578.46	-281.89	-525.35	-538.98	-504.98
Other Financing Activities	-0.25	-0.15	-0.13	-3.11	-63.93
Financing Cash Flow	2,911	-1,017	-797.82	-1,164	-630.68
Foreign Exchange Rate Adjustments	52.33	-64.98	77.12	-82.78	-182.93
Net Cash Flow	3,039	228.41	208.87	-1,318	-654.45
Free Cash Flow	-371.61	1,322	1,317	186.53	288.08
Free Cash Flow Growth	-	0.34%	606.11%	-35.25%	-79.28%
Free Cash Flow Margin	-2.16%	8.51%	9.99%	1.28%	2.24%
Free Cash Flow Per Share	-0.14	0.49	0.49	0.07	0.11
Cash Income Tax Paid	277.11	196.75	14.59	703.96	559.63
Levered Free Cash Flow	-225.97	1,521	1,009	-648.6	94.95
Unlevered Free Cash Flow	-192.08	1,573	1,070	-621.42	107.01
Change in Working Capital	215.95	-74.67	705.22	-1,024	-239.43

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