Nanjing Vazyme Biotech Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-18.09	-70.96	594.25	678.29
Depreciation & Amortization	138.01	157.38	122.1	55.28
Other Amortization	75.31	78.26	94.83	27.92
Loss (Gain) From Sale of Assets	2.1	-5.67	0.22	-0.01
Asset Writedown & Restructuring Costs	1.8	1.73	236.85	2.35
Loss (Gain) From Sale of Investments	-59.9	-50.92	-88.02	-29.81
Provision & Write-off of Bad Debts	20.26	-7.27	91.68	12.08
Other Operating Activities	57.09	165.4	333.07	46.61
Change in Accounts Receivable	-188.25	534.67	-682.89	-133.2
Change in Inventory	-39.04	-124.37	-403.82	-148.94
Change in Accounts Payable	-13	-511.13	464.58	113.78
Change in Other Net Operating Assets	53.56	25.28	7.37	7.47
Operating Cash Flow	-9.68	152.99	735.17	616.8
Operating Cash Flow Growth	-	-79.19%	19.19%	-23.24%
Capital Expenditures	-74.9	-232.9	-962.86	-261.96
Sale of Property, Plant & Equipment	2.47	13.48	15.59	2.73
Cash Acquisitions	-	-	-117.93	-
Investment in Securities	395.03	-726.65	51.07	-1,195
Other Investing Activities	52.6	45.42	61.7	26.15
Investing Cash Flow	375.21	-900.65	-952.44	-1,428
Short-Term Debt Issued	1,105	1,461	372	-
Long-Term Debt Issued	0.02	0.56	-	-
Total Debt Issued	1,105	1,462	372	-
Short-Term Debt Repaid	-1,723	-638.79	-156.41	-39.56
Total Debt Repaid	-1,723	-638.79	-156.41	-39.56
Net Debt Issued (Repaid)	-618.8	822.77	215.59	-39.56
Issuance of Common Stock	38.5	-	-	2,129
Repurchase of Common Stock	-104.4	-20.01	-	-
Common Dividends Paid	-80.36	-533.33	-132.24	-4.45
Other Financing Activities	-21.21	-19.63	-4.3	-15.2
Financing Cash Flow	-786.27	249.8	79.05	2,070
Foreign Exchange Rate Adjustments	-4.24	1.46	5.04	-2.32
Net Cash Flow	-424.98	-496.4	-133.18	1,256
Free Cash Flow	-84.58	-79.91	-227.69	354.84
Free Cash Flow Growth	-	-	-	-45.49%
Free Cash Flow Margin	-6.14%	-6.21%	-6.38%	18.99%
Free Cash Flow Per Share	-0.23	-0.20	-0.57	0.98
Cash Income Tax Paid	61.14	99.76	146.72	175.67
Levered Free Cash Flow	-105.83	-102.16	-451.34	181.59
Unlevered Free Cash Flow	-88.79	-80.25	-443.54	184
Change in Working Capital	-226.25	-114.95	-649.81	-175.9

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