Hangzhou Jiebai Group 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	381.48	247.44	260.24	237.57	350.56
Depreciation & Amortization	260.25	260.19	304.45	309.8	306.35
Other Amortization	27.56	43.84	23.76	30.3	22.07
Loss (Gain) From Sale of Assets	-8.16	4.07	-12.86	-9.93	-2.76
Asset Writedown & Restructuring Costs	12.52	5.07	5.83	24.78	-
Loss (Gain) From Sale of Investments	-23.41	-16.92	8.63	-5.77	-35.29
Provision & Write-off of Bad Debts	-	0.96	0.19	8.31	-0.28
Other Operating Activities	70.95	261.18	321.42	321.14	363.33
Change in Accounts Receivable	43.65	57.36	150.33	-304.58	68.73
Change in Inventory	25.67	2.17	-6.39	-7.84	-14.56
Change in Accounts Payable	-55.68	-180.95	204.78	-67.48	-171.66
Change in Other Net Operating Assets	1.74	6.47	17.3	19.72	2.62
Operating Cash Flow	752.18	688.36	1,278	541.65	870.63
Operating Cash Flow Growth	9.27%	-46.14%	135.94%	-37.79%	41.68%
Capital Expenditures	-58.6	-98.77	-39.75	-31.48	-42.48
Sale of Property, Plant & Equipment	0.63	0.26	3.88	0.03	9.54
Investment in Securities	4.07	340.96	-1,550	299.24	669.46
Other Investing Activities	15.81	6.28	1.47	0.97	5.47
Investing Cash Flow	-38.09	248.72	-1,585	268.76	641.99
Short-Term Debt Issued	-	420	200	-	-
Long-Term Debt Issued	18	14.43	9.06	4.52	1.77
Total Debt Issued	18	434.43	209.06	4.52	1.77
Short-Term Debt Repaid	-	-420	-200	-	-
Long-Term Debt Repaid	-92	-202.44	-297.23	-291.4	-330.15
Total Debt Repaid	-92	-622.44	-497.23	-291.4	-330.15
Net Debt Issued (Repaid)	-74	-188.01	-288.16	-286.88	-328.38
Issuance of Common Stock	-	-	-	-	67.78
Repurchase of Common Stock	-	-0.32	-1.76	-1.97	-
Common Dividends Paid	-131.9	-105.88	-96.12	-140.67	-80.8
Other Financing Activities	-320.71	-247.41	-189.63	-286.62	-160.43
Financing Cash Flow	-526.62	-541.62	-575.67	-716.14	-501.82
Net Cash Flow	187.48	395.46	-882.62	94.27	1,011
Free Cash Flow	693.58	589.59	1,238	510.17	828.15
Free Cash Flow Growth	17.64%	-52.38%	142.71%	-38.40%	47.64%
Free Cash Flow Margin	40.80%	33.64%	61.08%	25.66%	38.89%
Free Cash Flow Per Share	0.96	0.81	1.71	0.71	1.16
Cash Income Tax Paid	405.76	382.27	510.15	663.98	441.04
Levered Free Cash Flow	470.81	375.74	853.26	583.6	762.22
Unlevered Free Cash Flow	470.81	424.39	907.08	583.6	762.22
Change in Working Capital	30.99	-117.47	366.29	-374.56	-133.36

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