Shenzhen Kiwi Instruments 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	12.08	-17.17	-19.07	37.96	239.7
Depreciation & Amortization	16.42	16.71	15.37	10.89	5.02
Other Amortization	2	1.69	1.28	0.8	1.45
Loss (Gain) From Sale of Assets	-0.22	-0.22	-1.65	-0.01	0.01
Loss (Gain) From Sale of Investments	-13.08	-21.23	-25.76	-8.77	-
Provision & Write-off of Bad Debts	-0.15	0.42	0.23	-0.09	0.05
Other Operating Activities	-0.46	-7.78	-5.92	-1.68	-0.6
Change in Accounts Receivable	7.84	-15.59	-101.21	-45.58	-3.4
Change in Inventory	31.46	-10.92	-8.42	-42.5	-78.63
Change in Accounts Payable	-5.2	21.88	111.27	-15.42	9.89
Change in Other Net Operating Assets	10.39	35.92	20.78	13.57	10.94
Operating Cash Flow	64.25	3.42	-14.97	-51.36	184.39
Operating Cash Flow Growth	1781.20%	-	-	-	337.12%
Capital Expenditures	-86.25	-9.14	-12.72	-59.04	-45.27
Sale of Property, Plant & Equipment	0.02	0	0.01	0	0
Cash Acquisitions	-222.82	-	-29.18	-	-
Investment in Securities	35.3	137.7	328.5	-563.51	1.21
Other Investing Activities	13.08	22.89	21.1	-	-
Investing Cash Flow	-260.67	151.45	307.71	-622.55	-44.06
Short-Term Debt Issued	-	-	42.9	-	-
Long-Term Debt Issued	184.44	11.1	-	-	-
Total Debt Issued	184.44	11.1	42.9	-	-
Short-Term Debt Repaid	-	-	-13.79	-	-
Long-Term Debt Repaid	-17.05	-36.6	-7.21	-10.45	-3.85
Total Debt Repaid	-17.05	-36.6	-20.99	-10.45	-3.85
Net Debt Issued (Repaid)	167.39	-25.51	21.91	-10.45	-3.85
Issuance of Common Stock	11.83	15.6	-	879.22	-
Repurchase of Common Stock	-	-5.17	-42.19	-	-
Common Dividends Paid	-0.61	-0.25	-0.58	-0.04	-0.15
Other Financing Activities	-	-0.01	-	-17.5	-
Financing Cash Flow	178.61	-15.33	-20.87	851.23	-3.99
Foreign Exchange Rate Adjustments	-0.02	0	0	0.04	-0
Net Cash Flow	-17.84	139.54	271.87	177.37	136.33
Free Cash Flow	-21.99	-5.72	-27.69	-110.39	139.12
Free Cash Flow Growth	-	-	-	-	261.62%
Free Cash Flow Margin	-3.22%	-0.83%	-4.79%	-21.00%	15.68%
Free Cash Flow Per Share	-0.31	-0.08	-0.41	-1.77	2.69
Cash Income Tax Paid	17.21	-1.52	5.9	-11.23	51.79
Levered Free Cash Flow	-42.24	-23.26	4.32	-148.01	57.2
Unlevered Free Cash Flow	-41.44	-22.66	5.21	-147.33	57.53
Change in Working Capital	47.66	30.99	20.55	-90.47	-61.23

Source: S&P Global Market Intelligence. Standard template. Financial Sources.