Guangdong Songfa Ceramics 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	2,655	224.39	-117	-170.56	-309.06
Depreciation & Amortization	469.77	172.77	32.44	35.27	36.84
Other Amortization	29.49	0.76	1.3	2.96	2.52
Loss (Gain) From Sale of Assets	17.22	-4.56	0.01	-0.07	0.43
Asset Writedown & Restructuring Costs	-	0.88	20.86	41.9	249.14
Loss (Gain) From Sale of Investments	-14.46	-	-0.52	0.99	-2.41
Provision & Write-off of Bad Debts	4.1	7.85	5.04	8.47	1.65
Other Operating Activities	618.76	158.64	31.8	23.08	11.71
Change in Accounts Receivable	-9,122	-6,512	34.5	56.41	-0.12
Change in Inventory	-3,505	-1,386	-3.73	29.31	-10.28
Change in Accounts Payable	7,409	4,477	-18.12	-17.13	2
Change in Other Net Operating Assets	0.21	1.24	-	-	-
Operating Cash Flow	-1,458	-2,881	-15.33	6.04	-18.3
Capital Expenditures	-9,630	-4,848	-8.05	-6.68	-32.96
Sale of Property, Plant & Equipment	15.84	11.4	0.09	0.05	0.08
Divestitures	-6.68	-	-	0.87	-
Investment in Securities	21.45	-	-	-22.73	16.04
Other Investing Activities	0	-0	8.17	3.89	29.44
Investing Cash Flow	-9,600	-4,837	0.2	-24.6	12.6
Short-Term Debt Issued	-	-	105	192.5	118
Long-Term Debt Issued	19,334	12,409	204.26	252.29	265.3
Total Debt Issued	19,334	12,409	309.26	444.79	383.3
Short-Term Debt Repaid	-	-	-22.77	-155.87	-70
Long-Term Debt Repaid	-6,543	-6,949	-242.62	-276.67	-262.89
Total Debt Repaid	-6,543	-6,949	-265.39	-432.54	-332.89
Net Debt Issued (Repaid)	12,790	5,460	43.86	12.25	50.41
Issuance of Common Stock	3,935	2,500	-	-	-
Common Dividends Paid	-315	-50.06	-9.72	-13.2	-12.74
Other Financing Activities	-4.7	88.43	-17.41	-	-36.07
Financing Cash Flow	16,406	7,998	16.74	-0.95	1.6
Foreign Exchange Rate Adjustments	-40.9	12.15	0.62	6.25	-3.16
Net Cash Flow	5,308	292.86	2.23	-13.27	-7.26
Free Cash Flow	-11,088	-7,729	-23.38	-0.64	-51.26
Free Cash Flow Margin	-51.24%	-133.92%	-11.34%	-0.24%	-12.72%
Free Cash Flow Per Share	-12.36	-8.96	-0.19	-0.01	-0.41
Cash Income Tax Paid	-292.1	-265.77	-1.2	-18.43	-9.34
Levered Free Cash Flow	-12,558	-5,896	-7.08	11.76	-74.6
Unlevered Free Cash Flow	-12,192	-5,790	5.32	23.57	-65.34
Change in Working Capital	-5,237	-3,441	10.72	63.99	-9.12

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