Hangzhou XZB Tech 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	274.97	275.66	211.61	184.38	155.76	140.76
Depreciation & Amortization	54.87	54.87	50.71	50.19	43.01	33
Other Amortization	0.54	0.54	0.93	1.31	2.11	2
Loss (Gain) From Sale of Assets	-0.05	-0.05	-0.41	-0.92	-0.01	0.08
Asset Writedown & Restructuring Costs	3.8	3.8	4.18	2.62	1.61	0.55
Loss (Gain) From Sale of Investments	-2.92	-2.92	-8.19	-4.7	-1.41	-5.77
Provision & Write-off of Bad Debts	-	-	1.78	-1.25	2.65	-0.34
Other Operating Activities	-24.89	3.93	4.84	1.96	13.37	11.7
Change in Accounts Receivable	-32.92	-32.92	-26.44	59.3	-90.94	24.9
Change in Inventory	-31.94	-31.94	-21.33	-20.89	-22.06	-90.71
Change in Accounts Payable	87.07	87.07	25.58	36.54	30.64	-4.55
Change in Other Net Operating Assets	17.15	17.15	-	-	-	-
Operating Cash Flow	342.63	372.13	241.13	312.03	136.75	110.78
Operating Cash Flow Growth	29.36%	54.33%	-22.72%	128.18%	23.43%	-35.60%
Capital Expenditures	-36.71	-38.24	-61.59	-70.97	-40.32	-119.61
Sale of Property, Plant & Equipment	4.42	4.35	2.15	1.53	-	0.05
Investment in Securities	-117.39	-161.99	-22.59	-389.37	12.31	145.93
Other Investing Activities	-	-	-	1.75	-	-
Investing Cash Flow	-149.69	-195.88	-82.03	-457.06	-28.01	26.38
Short-Term Debt Issued	-	-	11	50	-	-
Long-Term Debt Issued	-	69	-	-	-	-
Total Debt Issued	80	69	11	50	-	-
Short-Term Debt Repaid	-	-	-50	-	-	-
Long-Term Debt Repaid	-	-50	-2	-1.78	-2.47	-2.37
Total Debt Repaid	-80	-50	-52	-1.78	-2.47	-2.37
Net Debt Issued (Repaid)	-	19	-41	48.22	-2.47	-2.37
Issuance of Common Stock	-	-	24.33	-	18.4	-
Repurchase of Common Stock	-	-	-46.32	-0.21	-	-28.95
Common Dividends Paid	-156.74	-169.89	-82.31	-67.27	-39.89	-51.14
Other Financing Activities	-18.08	-28.29	18.46	1.45	3.4	-6.16
Financing Cash Flow	-174.82	-179.18	-126.83	-17.79	-20.57	-88.63
Foreign Exchange Rate Adjustments	-4.63	0.8	-1.16	13.78	4.31	-3.1
Net Cash Flow	13.48	-2.13	31.1	-149.05	92.48	45.44
Free Cash Flow	305.91	333.89	179.54	241.06	96.42	-8.82
Free Cash Flow Growth	45.94%	85.97%	-25.52%	150.00%	-	-
Free Cash Flow Margin	37.04%	41.52%	26.39%	41.33%	18.30%	-2.04%
Free Cash Flow Per Share	2.28	2.49	1.34	1.80	0.72	-0.07
Cash Income Tax Paid	79.28	70.38	60.16	64.82	58.69	51.4
Levered Free Cash Flow	105.36	98.16	153.24	159.85	58.33	-56.77
Unlevered Free Cash Flow	105.36	98.16	154.23	160.24	58.34	-56.73
Change in Working Capital	36.31	36.31	-24.31	78.44	-80.35	-71.2

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