Kexing Biopharm 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	31.48	-190.29	-90.3	96.46
Depreciation & Amortization	99.03	88.26	71.04	49.88
Other Amortization	7.69	11.01	9.97	6.75
Loss (Gain) From Sale of Assets	-0.08	-0.28	-1.46	0.47
Asset Writedown & Restructuring Costs	0.17	1.6	0.42	2.94
Loss (Gain) From Sale of Investments	19.65	-7.17	1.52	-56.65
Provision & Write-off of Bad Debts	1.4	-3.13	0.17	-1.77
Other Operating Activities	42.81	35.57	22.97	10.99
Change in Accounts Receivable	-228.07	-70.17	-85.91	-66.53
Change in Inventory	45.89	-14.87	-35.26	-59.28
Change in Accounts Payable	69.46	124.93	60.42	111.97
Change in Other Net Operating Assets	4.37	7.72	7.85	-
Operating Cash Flow	106.67	-87.14	-85.89	94.01
Operating Cash Flow Growth	-	-	-	-11.25%
Capital Expenditures	-93.99	-191.2	-399.17	-371.98
Sale of Property, Plant & Equipment	0.04	-	1.78	64.47
Investment in Securities	-8.37	12.05	-	-200
Other Investing Activities	-1.8	22.9	15.94	15.01
Investing Cash Flow	-104.13	-156.25	-381.45	-492.5
Long-Term Debt Issued	627.66	420.63	1,016	505.52
Long-Term Debt Repaid	-569.77	-371.69	-591.08	-284.65
Net Debt Issued (Repaid)	57.88	48.93	424.72	220.88
Issuance of Common Stock	6.96	7.82	-	-
Repurchase of Common Stock	-31.13	-	-	-
Common Dividends Paid	-43.63	-45.41	-53.63	-28.39
Other Financing Activities	-1	4.91	-	-5.55
Financing Cash Flow	-10.91	16.25	371.1	186.94
Foreign Exchange Rate Adjustments	1.39	3.09	5.43	-2.07
Net Cash Flow	-6.98	-224.04	-90.81	-213.61
Free Cash Flow	12.68	-278.34	-485.06	-277.97
Free Cash Flow Margin	0.90%	-22.11%	-36.86%	-21.63%
Free Cash Flow Per Share	0.06	-1.40	-2.42	-1.41
Cash Income Tax Paid	60.51	49.54	35.35	41.63
Levered Free Cash Flow	-89.72	-244.19	-461.11	-246.11
Unlevered Free Cash Flow	-61.69	-218.74	-443.17	-241.1
Change in Working Capital	-95.48	-22.7	-100.22	-15.07

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