Changbai Mountain Tourism 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	145.8	144.25	138.06	-57.39	-51.62	-55.79
Depreciation & Amortization	67.59	67.59	57.16	53.01	57.64	58.25
Other Amortization	3.5	3.5	4.25	2.1	2.2	2.05
Loss (Gain) From Sale of Assets	0.05	0.05	-0.4	-0.01	0.08	0.24
Asset Writedown & Restructuring Costs	2.23	2.23	0.31	0.74	1.7	1.29
Loss (Gain) From Sale of Investments	-	-	0.29	-	-0.89	0.6
Provision & Write-off of Bad Debts	-0.74	-0.74	1.28	1	0.48	0.11
Other Operating Activities	-6.32	6.93	3.83	4.43	4.99	5.66
Change in Accounts Receivable	-52.71	-52.71	-25.55	-3.62	-3.68	7.46
Change in Inventory	-3.3	-3.3	-2.39	0.2	0.38	1.97
Change in Accounts Payable	19.32	19.32	49.5	22.66	-3.91	-18.19
Change in Other Net Operating Assets	5.72	5.72	-5.51	-2.42	-0.61	1.24
Operating Cash Flow	193.77	205.48	250.55	3.58	-5.84	-8.57
Operating Cash Flow Growth	-12.19%	-17.99%	6889.18%	-	-	-
Capital Expenditures	-166.71	-163.59	-86.92	-47.86	-17.62	-38.46
Sale of Property, Plant & Equipment	0.34	0.27	0.57	0.01	0.49	-
Cash Acquisitions	-3.63	-3.63	-	-	-	-
Investment in Securities	-	-	-	-	20.34	-22.68
Other Investing Activities	-	-	-	-	0.63	9
Investing Cash Flow	-170	-166.95	-86.35	-47.85	3.85	-52.14
Short-Term Debt Issued	-	80	-	-	-	-
Long-Term Debt Issued	-	-	-	59.08	7.35	22.14
Total Debt Issued	80	80	-	59.08	7.35	22.14
Long-Term Debt Repaid	-	-19.8	-16.32	-60.74	-45.57	-12.49
Net Debt Issued (Repaid)	60.15	60.2	-16.32	-1.66	-38.23	9.65
Common Dividends Paid	-25.3	-23.62	-3.69	-4.29	-4.82	-17.84
Other Financing Activities	12.39	-	-	-	-	-
Financing Cash Flow	47.25	36.58	-20.01	-5.95	-43.05	-8.18
Net Cash Flow	71.02	75.1	144.19	-50.21	-45.03	-68.9
Free Cash Flow	27.06	41.88	163.62	-44.28	-23.45	-47.03
Free Cash Flow Growth	-66.75%	-74.40%	-	-	-	-
Free Cash Flow Margin	3.45%	5.63%	26.37%	-22.75%	-12.18%	-31.86%
Free Cash Flow Per Share	0.10	0.16	0.62	-0.17	-0.09	-0.18
Cash Income Tax Paid	92.93	79.15	48.73	14.07	15.57	5.49
Levered Free Cash Flow	48.96	19.25	104.13	-22.88	-24.61	-60.48
Unlevered Free Cash Flow	51.44	21.09	106.48	-20.19	-21.63	-56.49
Change in Working Capital	-18.34	-18.34	45.76	-0.3	-20.44	-20.99

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