Montage Technology 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	2,236	1,412	450.91	1,299	829.14
Depreciation & Amortization	130.05	124.43	102.72	50.45	58.5
Other Amortization	40.74	16.35	2.66	1.83	1.95
Loss (Gain) From Sale of Assets	-	-	-	-0.44	0
Asset Writedown & Restructuring Costs	0.77	-	0.04	-	-
Loss (Gain) From Sale of Investments	-122.91	-72.49	-3.65	-465.36	-178.75
Stock-Based Compensation	450.39	58.85	122.68	151.27	176.54
Provision & Write-off of Bad Debts	0.92	0.46	-0.14	0.71	0.44
Other Operating Activities	-91.88	-37.4	191.18	25.8	-10.57
Change in Accounts Receivable	-202.77	-116.23	26.85	-111.88	-79.33
Change in Inventory	-511.19	82.71	62.57	-389.5	-188.34
Change in Accounts Payable	45.65	219.54	-209.84	151.96	112.23
Operating Cash Flow	2,022	1,691	731.25	688.84	680.41
Operating Cash Flow Growth	19.55%	131.29%	6.16%	1.24%	-31.97%
Capital Expenditures	-265.83	-379.12	-423.99	-226.86	-153.47
Sale of Property, Plant & Equipment	-	-	-	0.5	-
Cash Acquisitions	-	-	-	-3.08	-0.92
Investment in Securities	1,055	-75.41	-213.79	218.48	-53.94
Other Investing Activities	61.13	11.05	63.54	74.4	277.24
Investing Cash Flow	850.31	-443.47	-574.24	63.44	68.91
Long-Term Debt Repaid	-16.88	-21.42	-15.79	-13.34	-6.39
Net Debt Issued (Repaid)	-16.88	-21.42	-15.79	-13.34	-6.39
Issuance of Common Stock	39.3	442.84	285.21	67.26	36.79
Repurchase of Common Stock	-420.8	-409.06	-300.03	-	-300.08
Common Dividends Paid	-670	-338.19	-341.4	-338.94	-339.31
Other Financing Activities	39.32	48.9	-0.09	14.93	-0.15
Financing Cash Flow	-1,029	-276.94	-372.11	-270.09	-609.14
Foreign Exchange Rate Adjustments	-126.13	62.14	47.23	267.62	-60.9
Net Cash Flow	1,717	1,033	-167.87	749.81	79.28
Free Cash Flow	1,756	1,312	307.26	461.98	526.95
Free Cash Flow Growth	33.84%	327.06%	-33.49%	-12.33%	-6.03%
Free Cash Flow Margin	32.19%	36.06%	13.44%	12.58%	20.57%
Free Cash Flow Per Share	1.54	1.16	0.27	0.41	0.46
Cash Income Tax Paid	99.54	16.51	145.04	103.23	71.64
Levered Free Cash Flow	708.2	692.81	-11.23	170.82	339.3
Unlevered Free Cash Flow	709.28	693.75	-10.76	171.47	340.05
Change in Working Capital	-621.64	189.33	-135.15	-374.79	-196.84

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