Zhejiang Huangma Technology Co.,Ltd (SHA:603181)

SHA:603181 Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	447.26	436.61	397.78	324.73	477.14	448.4
Depreciation & Amortization	131.1	131.1	124.14	109.8	91.53	84.95
Other Amortization	3.41	3.41	1.28	1.38	1.59	0.93
Loss (Gain) From Sale of Assets	-0	-0	0.02	0.02	-22.05	-130.32
Asset Writedown & Restructuring Costs	-	-	0.01	-	-	-20.24
Loss (Gain) From Sale of Investments	0.1	0.1	9.35	-7.78	-6.16	-5.89
Provision & Write-off of Bad Debts	0.13	0.13	5.03	-3.18	3.26	-
Other Operating Activities	11.49	0.17	7.89	14.31	-4.48	4.06
Change in Accounts Receivable	-188.06	-188.06	-481.19	-136.85	-167.26	-261.72
Change in Inventory	21.33	21.33	-30.92	34.3	3.16	-86.36
Change in Accounts Payable	40.3	40.3	59.02	-20.88	112.12	6.14
Change in Other Net Operating Assets	18.75	18.75	9.13	6.22	5.89	7.55
Operating Cash Flow	473.02	451.05	94.22	320.53	480.72	34.55
Operating Cash Flow Growth	269.05%	378.74%	-70.61%	-33.32%	1291.34%	2.84%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-365.59	-285.37	-252.4	-198.9	-215.57	-202.66
Sale of Property, Plant & Equipment	0.51	0.51	0.9	0.12	44.78	0.33
Investment in Securities	-30	-110	4.8	81.5	66.48	360
Other Investing Activities	-127.99	-173.38	0.07	4.36	10.86	28.27
Investing Cash Flow	-523.07	-568.23	-246.63	-112.92	-93.45	185.94

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	177.31	305.17	54	40	361.85
Total Debt Issued	135.95	177.31	305.17	54	40	361.85
Long-Term Debt Repaid	-	-117.54	-240.01	-96.9	-93.9	-77.9
Total Debt Repaid	-32.84	-117.54	-240.01	-96.9	-93.9	-77.9
Net Debt Issued (Repaid)	103.11	59.77	65.16	-42.9	-53.9	283.95
Repurchase of Common Stock	-	-	-31.7	-99.52	-157.96	-
Common Dividends Paid	-134	-134.06	-99.73	-16.59	-77.47	-12.86
Dividends Paid	-134	-134.06	-99.73	-16.59	-77.47	-12.86
Other Financing Activities	47.97	-	64.8	-	-	-53.08
Financing Cash Flow	17.07	-74.29	-1.48	-159.01	-289.33	218.01

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-1.74	1.25	3.95	0.61	7.58	-2.33
Net Cash Flow	-34.72	-190.22	-149.93	49.21	105.52	436.17

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	107.43	165.68	-158.19	121.64	265.15	-168.11
Free Cash Flow Growth	-	-	-	-54.12%	-	-
Free Cash Flow Margin	4.37%	6.89%	-6.78%	6.42%	12.15%	-7.20%
Free Cash Flow Per Share	0.18	0.29	-0.28	0.21	0.46	-0.28
Levered Free Cash Flow	54.61	166.08	8.16	59.73	192.37	-17.57
Unlevered Free Cash Flow	54.94	167.08	15.47	69.97	199.47	-16.44

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	116.09	84.85	112.82	77.28	38.11	94.51
Change in Working Capital	-120.46	-120.46	-451.29	-118.75	-60.12	-347.34

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 30, 2026

Data Sources Report a data error