Shanghai Titan Scientific 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	12.89	72.57	124.81	143.95
Depreciation & Amortization	70.52	60.4	36.54	20.08
Other Amortization	29.34	9.45	6.67	6.06
Loss (Gain) From Sale of Assets	-1.88	-0.72	-	-0.01
Asset Writedown & Restructuring Costs	0.15	-	-	0
Loss (Gain) From Sale of Investments	-2.48	-11.33	-0.09	-14.87
Provision & Write-off of Bad Debts	7.96	11.42	16.22	11.04
Other Operating Activities	52.14	43.58	44.03	11.7
Change in Accounts Receivable	136.58	-182.09	-145.26	-360.72
Change in Inventory	-81.51	-142.78	-268.44	-319.22
Change in Accounts Payable	-41.67	6.5	2.83	239.58
Change in Other Net Operating Assets	11.02	9.63	34.95	24.27
Operating Cash Flow	189.01	-124.53	-151.39	-242.22
Capital Expenditures	-480.94	-464.93	-299.58	-135.21
Sale of Property, Plant & Equipment	14.31	2.29	-	0.01
Cash Acquisitions	-31.08	-	-	-3.95
Investment in Securities	-39.51	-10	-181.53	-36.4
Other Investing Activities	0.61	1.08	0.36	5.65
Investing Cash Flow	-536.61	-471.57	-480.75	-169.9
Long-Term Debt Issued	1,206	828.51	741.57	431.37
Total Debt Issued	1,206	828.51	741.57	431.37
Long-Term Debt Repaid	-903.14	-567.96	-378.62	-225.19
Total Debt Repaid	-903.14	-567.96	-378.62	-225.19
Net Debt Issued (Repaid)	303.08	260.54	362.95	206.17
Issuance of Common Stock	-	16.97	1,013	-
Repurchase of Common Stock	-15	-	-	-
Common Dividends Paid	-55.78	-47.62	-40.82	-39.47
Dividends Paid	-55.78	-47.62	-40.82	-39.47
Other Financing Activities	68.69	14.13	16.45	39.26
Financing Cash Flow	300.98	244.03	1,352	205.97
Foreign Exchange Rate Adjustments	-0.16	0.03	0.51	-0.12
Net Cash Flow	-46.78	-352.03	720.28	-206.28
Free Cash Flow	-291.93	-589.46	-450.97	-377.43
Free Cash Flow Margin	-10.12%	-21.28%	-17.29%	-17.44%
Free Cash Flow Per Share	-1.81	-3.60	-2.91	-2.53
Cash Income Tax Paid	83.34	70.5	52.39	56.57
Levered Free Cash Flow	-406.5	-655.13	-653.35	-290.52
Unlevered Free Cash Flow	-380.98	-637.64	-636.48	-284.4
Change in Working Capital	20.37	-309.9	-379.57	-420.17

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