Spring Airlines 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	2,004	2,273	2,257	-3,036	39.11	-588.41
Depreciation & Amortization	2,723	2,723	2,371	2,288	2,161	924.57
Other Amortization	85.85	85.85	71.1	55.94	55.1	58.97
Loss (Gain) From Sale of Assets	1.13	1.13	-2.83	-	-2.15	-3.02
Asset Writedown & Restructuring Costs	2.44	2.44	0.06	0.1	-0.03	347.85
Loss (Gain) From Sale of Investments	12.47	12.47	19.16	-2.99	-3.43	380.31
Provision & Write-off of Bad Debts	2.12	2.12	1.23	1.04	2.47	0.75
Other Operating Activities	543.51	246.43	278.16	604.11	284.6	70.17
Change in Accounts Receivable	180.1	180.1	151.38	240.58	-20.22	410.54
Change in Inventory	-153	-153	-27.28	38.61	4.43	-49.3
Change in Accounts Payable	345.92	345.92	1,319	703.4	-727.81	-653.35
Operating Cash Flow	5,923	5,895	6,694	438.62	1,684	825.76
Operating Cash Flow Growth	-3.05%	-11.94%	1426.19%	-73.95%	103.88%	-75.97%
Capital Expenditures	-6,200	-7,214	-3,205	-4,573	-6,201	-4,363
Sale of Property, Plant & Equipment	0.71	0.75	2.22	1.01	10.83	6.86
Investment in Securities	-2,936	-2,918	120.78	-122	-1.94	-703.92
Other Investing Activities	1,108	238.01	334.04	150.06	229.14	173.13
Investing Cash Flow	-8,028	-9,893	-2,748	-4,544	-5,963	-4,887
Long-Term Debt Issued	-	6,609	8,849	11,452	10,385	12,686
Long-Term Debt Repaid	-	-9,123	-11,950	-8,230	-9,876	-7,934
Net Debt Issued (Repaid)	-318.43	-2,514	-3,100	3,222	508.87	4,752
Issuance of Common Stock	30.07	30.07	31.05	3,000	-	-
Repurchase of Common Stock	-66.9	-66.9	-33.12	-100.01	-	-6.65
Common Dividends Paid	-1,235	-1,166	-553.1	-570.9	-478.46	-632.44
Other Financing Activities	1,084	3,368	944.11	1,355	2,289	1,487
Financing Cash Flow	-506.92	-349.12	-2,712	6,906	2,320	5,600
Foreign Exchange Rate Adjustments	46.6	37.52	52.82	254.78	-51.53	-78.81
Net Cash Flow	-2,565	-4,309	1,287	3,055	-2,011	1,460
Free Cash Flow	-276.63	-1,319	3,489	-4,134	-4,517	-3,538
Free Cash Flow Margin	-1.33%	-6.59%	19.45%	-49.40%	-41.60%	-37.74%
Free Cash Flow Per Share	-0.28	-1.35	3.57	-4.49	-4.62	-3.85
Cash Income Tax Paid	2,932	2,810	2,063	869.25	1,824	1,328
Levered Free Cash Flow	3,130	-2,740	2,084	-3,880	-7,532	-1,011
Unlevered Free Cash Flow	3,445	-2,406	2,486	-3,465	-7,186	-849.31
Change in Working Capital	548.56	548.56	1,699	527.91	-852.7	-365.43

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