Shenzhen Ellassay Fashion 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	164.88	-309.53	105.65	20.45	303.86
Depreciation & Amortization	211.11	278.16	249.01	233.55	170.61
Other Amortization	55.39	78.37	82.33	71.98	44.06
Loss (Gain) From Sale of Assets	-9.08	-8.59	-2.1	0.05	-0.3
Asset Writedown & Restructuring Costs	80.5	327.02	134.5	1.75	4.65
Loss (Gain) From Sale of Investments	-57.13	-37.85	-75.37	-34.6	-52.89
Provision & Write-off of Bad Debts	-3.41	5.84	10.45	2.37	5.51
Other Operating Activities	70	153.71	91.34	104.69	108.27
Change in Accounts Receivable	-19.37	-69.21	-71.12	-6.71	-81.97
Change in Inventory	79.89	-29.53	-162.73	-113	-189.6
Change in Accounts Payable	0.56	116.49	129.03	19.64	42.48
Change in Other Net Operating Assets	2.15	-27.65	0.29	16.41	-32.42
Operating Cash Flow	576.4	417.12	479.63	314.09	300.11
Operating Cash Flow Growth	38.19%	-13.03%	52.71%	4.66%	39.27%
Capital Expenditures	-55.71	-75.57	-96.91	-120.21	-133.89
Sale of Property, Plant & Equipment	0.75	4.76	0.98	0.85	1.68
Divestitures	20.69	-28.37	-	-	-
Investment in Securities	-14.83	108.12	18.99	60.8	-263.41
Other Investing Activities	56.85	-	-	1.95	36.28
Investing Cash Flow	7.76	8.94	-76.94	-56.6	-359.34
Long-Term Debt Issued	29.01	30	-	20.4	11.43
Long-Term Debt Repaid	-66.27	-287.63	-270.06	-416.08	-283.87
Net Debt Issued (Repaid)	-37.26	-257.63	-270.06	-395.68	-272.45
Issuance of Common Stock	-	-	-	-	475.65
Repurchase of Common Stock	-	-	-	-51.16	-
Common Dividends Paid	-18.59	-88.57	-7.46	-	-137.33
Other Financing Activities	-193.92	-2.61	4.46	-109.85	9.52
Financing Cash Flow	-249.77	-348.81	-273.05	-556.7	75.4
Foreign Exchange Rate Adjustments	8.82	-2.93	6.18	6.65	-15.63
Net Cash Flow	343.21	74.32	135.82	-292.56	0.56
Free Cash Flow	520.69	341.55	382.73	193.87	166.23
Free Cash Flow Growth	52.45%	-10.76%	97.41%	16.63%	12.30%
Free Cash Flow Margin	18.23%	11.25%	13.13%	8.10%	7.03%
Free Cash Flow Per Share	1.42	0.94	1.05	0.57	0.48
Cash Income Tax Paid	-	232.02	206.38	216.84	221.51
Levered Free Cash Flow	618.26	395.08	299.68	170.21	151.9
Unlevered Free Cash Flow	630.13	411.26	315.63	187.11	166
Change in Working Capital	64.14	-70.01	-116.17	-86.16	-283.65

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