Baotailong New Materials 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	-140.79	-464.17	-1,536	151.74	151.25	53.55
Depreciation & Amortization	125.66	125.66	128.46	172.54	195.6	247.39
Other Amortization	6.25	6.25	6.12	9.93	7.14	10.83
Loss (Gain) From Sale of Assets	1.73	1.73	0.57	0.28	0.7	-0.05
Asset Writedown & Restructuring Costs	117.82	117.82	1,956	0.97	-	1.98
Loss (Gain) From Sale of Investments	-15.27	-15.27	4.77	3.89	0.62	1.35
Provision & Write-off of Bad Debts	4.52	4.52	5.56	1.45	2.42	-0
Other Operating Activities	-452.58	127.74	89.15	104.49	171.15	110.15
Change in Accounts Receivable	216.41	216.41	-249.13	-107.85	74.49	52
Change in Inventory	454.99	454.99	748.54	-450.52	93.68	126.05
Change in Accounts Payable	-127.6	-127.6	212.12	113.25	5.89	-233.37
Operating Cash Flow	55.87	312.82	807.74	12.74	680.08	322.31
Operating Cash Flow Growth	-85.44%	-61.27%	6241.12%	-98.13%	111.00%	47.61%
Capital Expenditures	-380.2	-398.52	-958.67	-986.98	-441.85	-329.73
Sale of Property, Plant & Equipment	0.95	0.97	-	0.03	0.33	-
Cash Acquisitions	-	-	-	-2.39	-	-
Divestitures	209.92	-	-	-	-	-
Investment in Securities	-	-	-8.96	-16.43	-5.95	-0.99
Other Investing Activities	-0.82	-3.57	-0.5	0	-0.11	-0.11
Investing Cash Flow	-170.16	-401.12	-968.13	-1,006	-447.58	-330.84
Short-Term Debt Issued	-	-	10	-	-	-
Long-Term Debt Issued	-	1,256	1,395	705.86	1,034	1,414
Total Debt Issued	2,025	1,256	1,405	705.86	1,034	1,414
Long-Term Debt Repaid	-	-1,151	-1,118	-865.12	-1,039	-1,337
Net Debt Issued (Repaid)	285.91	104.53	286.97	-159.25	-5.48	77.27
Issuance of Common Stock	-	-	-	1,234	-	-
Repurchase of Common Stock	-	-	-	-	-	-30.43
Common Dividends Paid	-102.99	-106.34	-120.82	-105.58	-158.95	-73.66
Other Financing Activities	-73.31	-11	-7.96	-11.37	-2.48	10.53
Financing Cash Flow	109.6	-12.81	158.19	957.5	-166.91	-16.29
Net Cash Flow	-4.69	-101.11	-2.2	-35.52	65.59	-24.81
Free Cash Flow	-324.33	-85.7	-150.93	-974.24	238.23	-7.41
Free Cash Flow Margin	-50.55%	-6.64%	-4.05%	-25.82%	6.66%	-0.28%
Free Cash Flow Per Share	-0.17	-0.04	-0.08	-0.51	0.14	-0.00
Cash Income Tax Paid	6.94	80.2	273.66	172.23	134.51	71.13
Levered Free Cash Flow	-375.2	-86.61	-15.71	-992.38	254.8	172.68
Unlevered Free Cash Flow	-279.21	-1.68	50.18	-923.87	339.91	240.37
Change in Working Capital	408.53	408.53	152.6	-432.54	151.21	-102.88

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.