Zhejiang Yunzhongma Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	104.58	100.36	119.47	100.86	120.08
Depreciation & Amortization	94.88	78.25	52.74	34.83	30.37
Other Amortization	1.18	1.08	0.76	0.6	0.57
Loss (Gain) From Sale of Assets	-0.09	-0.13	-0.12	0.09	8.02
Asset Writedown & Restructuring Costs	4.75	-	0.02	0.38	-0.21
Loss (Gain) From Sale of Investments	-36.15	-18.56	-1.17	-0.02	-0.07
Provision & Write-off of Bad Debts	4.4	4.6	10.29	-	-
Other Operating Activities	18.51	22.82	14.46	11.26	5.54
Change in Accounts Receivable	-83.78	-31.11	-482.65	-233.05	-107.28
Change in Inventory	97.68	-16.51	-44.64	32.65	-90.04
Change in Accounts Payable	142.26	-76.93	-15.73	16.62	171.94
Operating Cash Flow	364.96	68.05	-337.02	-51.38	135.99
Operating Cash Flow Growth	436.36%	-	-	-	1.43%
Capital Expenditures	-229.68	-305.68	-258.78	-208.07	-206.37
Sale of Property, Plant & Equipment	0.25	0.46	0.15	0.13	1.24
Divestitures	92.5	-	-	-	-
Investment in Securities	-3.19	-20.5	-35.97	-	-
Other Investing Activities	1.4	0.12	1.39	0.02	0.07
Investing Cash Flow	-138.72	-325.6	-293.2	-207.92	-205.06
Long-Term Debt Issued	1,711	2,188	809.67	277.4	241.93
Total Debt Issued	1,711	2,188	809.67	277.4	241.93
Long-Term Debt Repaid	-2,181	-1,610	-476.41	-215.13	-45.64
Total Debt Repaid	-2,181	-1,610	-476.41	-215.13	-45.64
Net Debt Issued (Repaid)	-470.68	577.98	333.26	62.27	196.29
Issuance of Common Stock	-	-	-	656.34	-
Repurchase of Common Stock	-	-49.99	-	-	-
Common Dividends Paid	-27.93	-61.63	-39.29	-9.28	-21.54
Other Financing Activities	254.97	-275.93	69.45	-27.22	-4.15
Financing Cash Flow	-243.63	190.43	363.43	682.11	170.6
Foreign Exchange Rate Adjustments	-	-	-	-	0
Net Cash Flow	-17.39	-67.12	-266.8	422.82	101.53
Free Cash Flow	135.29	-237.64	-595.8	-259.45	-70.38
Free Cash Flow Margin	5.06%	-9.08%	-25.63%	-13.73%	-4.12%
Free Cash Flow Per Share	0.98	-1.73	-4.24	-2.39	-0.67
Cash Income Tax Paid	56.58	65.89	50.22	79.75	73.56
Levered Free Cash Flow	146.02	-301.89	-559.21	-182.53	-89.96
Unlevered Free Cash Flow	156.41	-289.69	-550.91	-175.49	-86.49
Change in Working Capital	172.9	-120.39	-533.48	-199.38	-28.31

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.