NARI Technology 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	7,987	7,610	7,175	6,446	5,642	4,852
Depreciation & Amortization	1,630	1,630	1,702	1,395	1,297	1,124
Other Amortization	111.39	111.39	25.39	18.58	17.95	11.17
Loss (Gain) From Sale of Assets	0.18	0.18	1.13	-7.65	-0.32	-0.09
Asset Writedown & Restructuring Costs	2.03	2.03	0.86	1.04	0.74	0.96
Loss (Gain) From Sale of Investments	-38.34	-38.34	-7.22	-18.98	-16.55	-49.95
Provision & Write-off of Bad Debts	113.83	113.83	23.6	74.52	94.88	376.69
Other Operating Activities	2,973	440.51	481.81	517.94	574.75	689.96
Change in Accounts Receivable	-2,456	-2,456	-3,277	-1,245	-5,612	-4,487
Change in Inventory	-1,474	-1,474	-1,418	-472.22	15.02	-2,170
Change in Accounts Payable	5,058	5,058	6,408	1,953	2,654	5,164
Change in Other Net Operating Assets	141.55	141.55	172.49	178.08	79.35	123.22
Operating Cash Flow	13,996	11,086	11,278	8,760	4,671	5,635
Operating Cash Flow Growth	26.22%	-1.71%	28.75%	87.55%	-17.11%	20.30%
Capital Expenditures	-2,079	-1,832	-1,952	-3,415	-2,016	-3,464
Sale of Property, Plant & Equipment	3.64	4.47	2.09	1.68	7.2	1.78
Divestitures	-	-	-	-	-	-69.69
Investment in Securities	-12,886	-12,769	-3,821	-423.01	112	2,971
Other Investing Activities	292.55	155.64	31.77	33.51	41.53	85.33
Investing Cash Flow	-14,669	-14,441	-5,739	-3,803	-1,856	-475.63
Long-Term Debt Issued	-	683.57	435.96	259.39	3,791	4,960
Total Debt Issued	640.43	683.57	435.96	259.39	3,791	4,960
Long-Term Debt Repaid	-	-569.59	-1,298	-1,401	-3,891	-4,012
Total Debt Repaid	-597.53	-569.59	-1,298	-1,401	-3,891	-4,012
Net Debt Issued (Repaid)	42.89	113.98	-862.51	-1,141	-99.56	948.38
Issuance of Common Stock	-	-	-	716.65	-	-
Repurchase of Common Stock	-11.83	-11.83	-8.84	-5.81	-4.41	-1.73
Common Dividends Paid	-5,740	-5,425	-2,653	-2,335	-2,004	-1,399
Other Financing Activities	-732.17	-617.06	-214.46	-50.94	-138.45	-157.07
Financing Cash Flow	-6,441	-5,940	-3,738	-2,816	-2,246	-609.26
Foreign Exchange Rate Adjustments	58.76	34.71	29.49	112.61	-37.1	-92.51
Net Cash Flow	-7,056	-9,261	1,830	2,253	531.77	4,458
Free Cash Flow	11,917	9,254	9,326	5,345	2,654	2,171
Free Cash Flow Growth	26.80%	-0.77%	74.49%	101.36%	22.26%	23.69%
Free Cash Flow Margin	18.79%	16.12%	18.05%	11.41%	6.26%	5.64%
Free Cash Flow Per Share	1.50	1.16	1.17	0.67	0.33	0.27
Cash Income Tax Paid	3,521	3,230	2,993	2,326	1,668	2,016
Levered Free Cash Flow	3,187	3,747	4,746	905.42	2,263	1,534
Unlevered Free Cash Flow	3,201	3,765	4,770	934.57	2,309	1,577
Change in Working Capital	1,216	1,216	1,875	333.03	-2,940	-1,369

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