Shanghai Carthane 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	70.59	73.58	90.39	91.83	78.05	84.22
Depreciation & Amortization	33.6	33.6	33.69	32.7	29.69	25.64
Other Amortization	25.72	25.72	19.69	20.07	19.99	15.78
Loss (Gain) From Sale of Assets	0.35	0.35	0.14	0.01	-0.19	0.2
Asset Writedown & Restructuring Costs	0.13	0.13	-	0.5	-	0.1
Loss (Gain) From Sale of Investments	11.36	11.36	12.66	-12.26	-0.7	-3.59
Provision & Write-off of Bad Debts	1.12	1.12	1.72	3.84	-	1.87
Other Operating Activities	-51.14	4.55	5.48	1.31	-3.22	1.47
Change in Accounts Receivable	-41.94	-41.94	-84.64	-39.81	20.98	-36.63
Change in Inventory	-11.9	-11.9	-3.69	25.78	-2.69	-1.98
Change in Accounts Payable	65.27	65.27	53.39	-4.42	-70.21	30.13
Operating Cash Flow	101.99	160.69	128.73	110.88	67.87	119.1
Operating Cash Flow Growth	-30.13%	24.82%	16.10%	63.36%	-43.01%	-35.64%
Capital Expenditures	-81.42	-83.21	-61.95	-63.37	-117.65	-81.2
Sale of Property, Plant & Equipment	13.39	13.39	0.12	0.06	0.01	0.12
Cash Acquisitions	-	-	-	-	0.15	-
Divestitures	-	-	-	-23.43	-	-
Investment in Securities	-103.75	-125	0.25	-7.5	-	-
Other Investing Activities	1.77	1.25	0.54	1.41	1.23	4.4
Investing Cash Flow	-170	-193.57	-61.04	-92.84	-116.26	-76.67
Short-Term Debt Issued	-	407.21	100.74	52.23	-	-
Total Debt Issued	328.11	407.21	100.74	52.23	-	-
Short-Term Debt Repaid	-	-100.98	-72.23	-21.12	-	-
Long-Term Debt Repaid	-	-3.61	-2.38	-1.94	-2.74	-1.77
Total Debt Repaid	-54.93	-104.58	-74.61	-23.06	-2.74	-1.77
Net Debt Issued (Repaid)	273.18	302.62	26.13	29.17	-2.74	-1.77
Issuance of Common Stock	46.01	46.01	46.45	18.56	45.32	0.23
Repurchase of Common Stock	-	-	-	-	-44.21	-
Common Dividends Paid	-67.78	-67.52	-69.9	-62.79	-62.75	-62.99
Other Financing Activities	-54.68	-53.65	-40.56	-3.43	11.12	0.57
Financing Cash Flow	196.73	227.46	-37.86	-18.49	-53.26	-63.97
Foreign Exchange Rate Adjustments	-2.74	-1.22	0.23	0.57	3.64	-2.19
Net Cash Flow	125.98	193.35	30.06	0.12	-98	-23.73
Free Cash Flow	20.58	77.47	66.78	47.5	-49.78	37.9
Free Cash Flow Growth	-74.24%	16.01%	40.58%	-	-	-69.32%
Free Cash Flow Margin	2.48%	9.41%	8.92%	6.42%	-7.75%	6.91%
Free Cash Flow Per Share	0.08	0.29	0.25	0.18	-0.19	0.14
Cash Income Tax Paid	40.17	40.17	48.62	55.09	36.48	31.67
Levered Free Cash Flow	35.69	42.67	19.86	-14.16	-70.55	28.89
Unlevered Free Cash Flow	40.24	45.8	20.69	-13.67	-69.86	29.17
Change in Working Capital	10.27	10.27	-35.03	-27.12	-55.75	-6.59

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