Yibin Paper Industry 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	121.77	-128.43	21.85	29.62	28.32
Depreciation & Amortization	199.33	245.01	244.6	158.39	154.47
Other Amortization	7.49	10.99	11.65	8.03	7.7
Loss (Gain) From Sale of Assets	1.05	9.79	-0.19	-10.08	-0.15
Asset Writedown & Restructuring Costs	66.28	10.08	2.29	0.41	3.17
Loss (Gain) From Sale of Investments	-0.11	-1.09	-4.21	-0.31	2.54
Provision & Write-off of Bad Debts	-	-4.1	-2.65	7.46	0.39
Other Operating Activities	55.98	185.51	154.38	75.15	87.53
Change in Accounts Receivable	118.24	2.36	0.84	27.22	42.17
Change in Inventory	-72	144.72	-65.08	-93.36	-34.47
Change in Accounts Payable	22.5	-106.9	27.39	25.57	-24.71
Operating Cash Flow	518.92	366.9	390.96	228.08	266.97
Operating Cash Flow Growth	41.44%	-6.15%	71.41%	-14.57%	11.53%
Capital Expenditures	-158.41	-74.18	-18.58	-11.41	-44.55
Sale of Property, Plant & Equipment	0.18	0.01	0.15	10.12	0.69
Investment in Securities	-	-	-	-24.26	-
Other Investing Activities	0.42	1.9	0.11	-	-
Investing Cash Flow	-157.81	-72.27	-18.32	-25.55	-43.86
Long-Term Debt Issued	1,005	1,715	522	2,490	1,158
Long-Term Debt Repaid	-807.42	-1,568	-848.15	-2,697	-1,451
Net Debt Issued (Repaid)	197.6	146.65	-326.15	-207.77	-293.71
Common Dividends Paid	-51.56	-179.72	-111.11	-67.11	-81.88
Other Financing Activities	-394.32	-210.61	-4.64	-6.49	-6.09
Financing Cash Flow	-248.28	-243.68	-441.91	-281.37	-381.67
Foreign Exchange Rate Adjustments	-0.09	-1.18	0.83	0.31	-0.01
Net Cash Flow	112.75	49.76	-68.44	-78.53	-158.57
Free Cash Flow	360.51	292.71	372.37	216.67	222.41
Free Cash Flow Growth	23.16%	-21.39%	71.86%	-2.58%	45.79%
Free Cash Flow Margin	15.49%	13.08%	15.25%	9.41%	10.51%
Free Cash Flow Per Share	2.04	1.66	2.10	1.23	1.26
Cash Income Tax Paid	146.28	90.06	56.63	77.66	58.38
Levered Free Cash Flow	-1.91	-129.41	951.13	189.92	75.41
Unlevered Free Cash Flow	-1.91	-91.66	997.81	232.21	128.48
Change in Working Capital	67.13	39.14	-36.77	-40.6	-17.01

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