Shanghai Xinhua Media Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	42.6	42.26	40.46	36.18	8.78	33.41
Depreciation & Amortization	82.74	82.74	87.41	83.57	74.29	66.27
Other Amortization	35.03	35.03	24.6	8.44	1.57	0.98
Loss (Gain) From Sale of Assets	-1.19	-1.19	-47.25	0.06	-1.28	-0.15
Asset Writedown & Restructuring Costs	-0	-0	-	1.01	-	0.25
Loss (Gain) From Sale of Investments	-8.91	-8.91	32.24	-31.35	7.31	-26.47
Provision & Write-off of Bad Debts	-0.4	-0.4	0.64	-2.17	9.71	-3.13
Other Operating Activities	13.78	-16.34	2.91	43.59	0.81	19.18
Change in Accounts Receivable	18.87	18.87	41.16	-5.68	231.45	394.23
Change in Inventory	94.11	94.11	72.67	-101.33	-16.52	5.29
Change in Accounts Payable	-87.33	-87.33	-108.12	152.89	-71.46	35.34
Operating Cash Flow	189.4	158.94	144.78	187.13	243.83	525.94
Operating Cash Flow Growth	46.32%	9.78%	-22.63%	-23.26%	-53.64%	43.59%
Capital Expenditures	-138.8	-91.65	-127.82	-128.49	-152.08	-6.49
Sale of Property, Plant & Equipment	0.19	0.22	47.67	0.04	0.4	0.67
Investment in Securities	87.87	12.77	116.38	58.56	210.36	-428.92
Other Investing Activities	12.11	12.42	18.74	18.49	17.97	22.33
Investing Cash Flow	-38.63	-66.24	54.97	-51.4	76.65	-412.41
Long-Term Debt Repaid	-	-49.19	-59.57	-63.55	-55.75	-33.18
Net Debt Issued (Repaid)	-49.19	-49.19	-59.57	-63.55	-55.75	-33.18
Common Dividends Paid	-12.54	-12.54	-13.58	-	-10.44	-
Other Financing Activities	-2.39	-	-	-	-	-
Financing Cash Flow	-64.12	-61.73	-73.16	-63.55	-66.19	-33.18
Foreign Exchange Rate Adjustments	-0.06	-0.03	0.03	0.02	0.11	-0.03
Net Cash Flow	86.6	30.94	126.62	72.19	254.41	80.31
Free Cash Flow	50.6	67.29	16.96	58.64	91.76	519.45
Free Cash Flow Growth	537.56%	296.86%	-71.08%	-36.09%	-82.34%	44.25%
Free Cash Flow Margin	3.48%	4.64%	1.18%	4.49%	7.29%	40.45%
Free Cash Flow Per Share	0.04	0.06	0.02	0.05	0.10	0.47
Cash Income Tax Paid	27.84	29.43	20.44	8.5	-3.84	15.11
Levered Free Cash Flow	33.23	54.37	-52.64	185.4	-79.32	48.13
Unlevered Free Cash Flow	35.95	57.09	-48.35	190.46	-74.26	52.52
Change in Working Capital	25.76	25.76	3.77	47.8	142.65	435.6

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