Ningbo Zhongbai 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	46.65	32.54	-16.06	60.7	362.17	35.86
Depreciation & Amortization	7.87	7.87	7.91	8.67	11.37	11.53
Other Amortization	0.43	0.43	0.43	0.81	0.88	0.88
Loss (Gain) From Sale of Assets	-	-	-0.01	-139.29	0	-0.09
Asset Writedown & Restructuring Costs	0	0	0.01	-	-	-
Loss (Gain) From Sale of Investments	-25.86	-25.86	35.89	95.59	-36.04	-19.84
Provision & Write-off of Bad Debts	0.3	0.3	-0.01	0.01	0.01	-0.04
Other Operating Activities	5.1	0.32	0.09	-	-0.01	-0
Change in Accounts Receivable	5.04	5.04	-7.53	5.49	-14.23	-8.32
Change in Inventory	-9.74	-9.74	47.39	-22.54	16.25	-17.07
Change in Accounts Payable	-5.02	-5.02	-90.38	34.34	-335.15	13.21
Change in Other Net Operating Assets	-0.02	-0.02	-	-	-	0.13
Operating Cash Flow	29.28	10.39	-32.3	15.28	6.84	16.27
Operating Cash Flow Growth	-	-	-	123.18%	-57.94%	-
Capital Expenditures	-0.12	-0.11	-0.71	-0.11	-0.08	-0.08
Sale of Property, Plant & Equipment	0	0	0.04	196.42	35.03	0.12
Cash Acquisitions	-0.09	-0.09	-	-	-	-
Investment in Securities	-	-	-	62.37	-100	0.12
Other Investing Activities	6.88	6.88	4.4	-42.9	53.62	2
Investing Cash Flow	6.67	6.68	3.73	215.77	-11.43	2.16
Long-Term Debt Repaid	-	-1	-	-	-	-
Net Debt Issued (Repaid)	-1	-1	-	-	-	-
Common Dividends Paid	-	-	-19.07	-10.09	-	-
Other Financing Activities	-0.01	-0.01	-	-	-	-
Financing Cash Flow	-1.01	-1.01	-19.07	-10.09	-	-
Net Cash Flow	34.94	16.07	-47.63	220.95	-4.59	18.43
Free Cash Flow	29.16	10.28	-33.01	15.16	6.77	16.19
Free Cash Flow Growth	-	-	-	124.11%	-58.21%	-
Free Cash Flow Margin	8.15%	2.24%	-3.99%	1.27%	0.75%	1.94%
Free Cash Flow Per Share	0.13	0.05	-0.14	0.07	0.03	0.07
Cash Interest Paid	0.01	0.01	-	-	-	-
Cash Income Tax Paid	17.74	18.33	69.79	38.25	31.77	20.09
Levered Free Cash Flow	25.27	6.33	-36.56	116.8	53.33	-4
Unlevered Free Cash Flow	25.28	6.34	-36.56	116.8	53.33	-4
Change in Working Capital	-5.2	-5.2	-60.55	-11.21	-331.54	-12.04

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