ACM Research (Shanghai) 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	1,396	1,153	910.52	668.49	266.25
Depreciation & Amortization	116.27	89.7	70.37	39.11	24.65
Other Amortization	28.4	8.41	14.62	16.79	6.63
Loss (Gain) From Sale of Assets	0.46	-0	-0	-0.01	-
Asset Writedown & Restructuring Costs	0.13	0	0.01	0.07	-3.92
Loss (Gain) From Sale of Investments	-183.82	-56.49	-100.47	4.66	-21.01
Provision & Write-off of Bad Debts	103.8	64	46.35	21.02	10.47
Other Operating Activities	184.12	53.14	18.03	-2.79	11.51
Change in Accounts Receivable	-1,188	-555.19	-592.8	-658.45	-441.63
Change in Inventory	-697.67	-327.48	-1,240	-1,262	-
Change in Accounts Payable	342.08	483.8	383.93	886.5	766.38
Change in Other Net Operating Assets	178.67	314.26	142.43	33.62	-809.95
Operating Cash Flow	238.84	1,216	-426.96	-268.72	-189.18
Operating Cash Flow Growth	-80.36%	-	-	-	-
Capital Expenditures	-503.96	-573.84	-398.44	-685.57	-59.6
Sale of Property, Plant & Equipment	0.05	0.01	0.22	0.02	-
Cash Acquisitions	-	-3	-6.07	-	-
Investment in Securities	-2,333	11.8	812.72	-1,206	-10
Other Investing Activities	26.82	75.05	133.79	7.54	-
Investing Cash Flow	-2,810	-489.98	542.22	-1,884	-69.6
Long-Term Debt Issued	1,272	932.47	422.02	390	190.44
Long-Term Debt Repaid	-692.22	-292.71	-433.2	-97.36	-281
Total Debt Repaid	-692.22	-292.71	-433.2	-97.36	-281
Net Debt Issued (Repaid)	580.17	639.76	-11.18	292.64	-90.55
Issuance of Common Stock	4,578	36.68	27.16	-	3,511
Repurchase of Common Stock	-50.02	-	-	-	-
Common Dividends Paid	-327.3	-298.31	-179.75	-11.28	-11.35
Other Financing Activities	-2.96	-	-	-8.39	-14.76
Financing Cash Flow	4,778	378.13	-163.78	272.97	3,395
Foreign Exchange Rate Adjustments	-45.89	6.95	9.48	40.01	-4.7
Net Cash Flow	2,161	1,111	-39.04	-1,840	3,131
Free Cash Flow	-265.12	642.3	-825.4	-954.29	-248.78
Free Cash Flow Margin	-3.91%	11.43%	-21.23%	-33.22%	-15.35%
Free Cash Flow Per Share	-0.58	1.45	-1.86	-2.18	-0.62
Cash Income Tax Paid	-132.18	-145.79	-205.2	-319.37	-113.7
Levered Free Cash Flow	-775.23	230.41	-362.12	-1,789	-356.88
Unlevered Free Cash Flow	-749.43	247.21	-349.58	-1,782	-353.06
Change in Working Capital	-1,406	-95.8	-1,386	-1,016	-483.77

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