Anbang Save-Guard Group 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	129.41	125.49	118.25	113.45	93.27	119.79
Depreciation & Amortization	126.52	126.52	120.23	119.61	120.31	92.54
Other Amortization	20.73	20.73	17.11	15	12.33	12.41
Loss (Gain) From Sale of Assets	0.99	0.99	0.59	1.66	1.56	-0.21
Asset Writedown & Restructuring Costs	4.68	4.68	1.15	9.2	5.05	-2.29
Loss (Gain) From Sale of Investments	-5.89	-5.89	-4.85	-5.49	-6.26	-8.14
Provision & Write-off of Bad Debts	13.73	13.73	13.42	-	-	-
Other Operating Activities	186.33	148.14	151.87	143.24	134.34	160.92
Change in Accounts Receivable	-130.67	-130.67	-110.48	-80.17	-41.69	-12.44
Change in Inventory	6.6	6.6	-47.34	-12.85	-11.02	-5.33
Change in Accounts Payable	90.43	90.43	49.11	20.42	46.35	69.4
Change in Other Net Operating Assets	3.15	3.15	-1.9	8.83	13.79	12.18
Operating Cash Flow	442.9	400.8	305.14	326.99	366.11	439.92
Operating Cash Flow Growth	36.64%	31.35%	-6.68%	-10.69%	-16.78%	60.13%
Capital Expenditures	-233.01	-217.19	-188.22	-162.82	-77.52	-103.89
Sale of Property, Plant & Equipment	1.3	0.82	1.04	0.74	0.78	2.07
Cash Acquisitions	-23.89	-26.48	-6.07	-	-	-
Investment in Securities	0.5	-0.01	-0.3	27.31	0.01	-22.94
Other Investing Activities	-7.34	16.35	0.7	5.41	2.78	10.42
Investing Cash Flow	-262.43	-226.51	-192.84	-129.36	-73.95	-114.34
Long-Term Debt Issued	-	110.72	422.6	93.9	69.97	42.9
Long-Term Debt Repaid	-	-140.45	-454.36	-151.97	-65.13	-52.3
Net Debt Issued (Repaid)	-24.05	-29.72	-31.76	-58.07	4.85	-9.4
Issuance of Common Stock	-	-	513.44	-	-	358.55
Common Dividends Paid	-53.31	-57.27	-2.06	-2.23	-32.14	-32.46
Other Financing Activities	-67.2	-83.46	-104.71	-10.19	-241.71	-167.72
Financing Cash Flow	-144.56	-170.45	374.91	-70.49	-269	148.97
Miscellaneous Cash Flow Adjustments	-	-	-	-	0	-0
Net Cash Flow	35.91	3.84	487.2	127.13	23.16	474.56
Free Cash Flow	209.9	183.61	116.92	164.16	288.58	336.03
Free Cash Flow Growth	45.56%	57.04%	-28.78%	-43.11%	-14.12%	206.22%
Free Cash Flow Margin	7.65%	6.91%	4.71%	6.90%	13.13%	16.28%
Free Cash Flow Per Share	1.96	1.71	1.45	2.04	3.59	5.36
Cash Income Tax Paid	228.22	233.89	209.12	208.57	193.06	162.4
Levered Free Cash Flow	202.22	172.7	47.96	121.62	136.2	152.24
Unlevered Free Cash Flow	208.04	178.58	52.77	126.87	141.82	155
Change in Working Capital	-33.6	-33.6	-112.63	-69.68	5.51	64.92

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.