Zhejiang Heda Technology 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	-69.73	-5.64	-29.51	52.04	100.22
Depreciation & Amortization	11.53	11.19	11.44	8.13	6.45
Other Amortization	0.63	0.4	2	2.03	2.09
Loss (Gain) From Sale of Assets	0	-0.03	0	-	-
Asset Writedown & Restructuring Costs	-	0.01	0.01	17.02	12.59
Loss (Gain) From Sale of Investments	-6.43	-9.26	-7.78	-8.84	0.15
Provision & Write-off of Bad Debts	11.46	38.62	16.75	-	-
Other Operating Activities	8.37	2.07	1.12	-0.67	-1.67
Change in Accounts Receivable	35.66	-40.86	15.39	-99.44	-134.39
Change in Inventory	-51.71	28.18	-8.95	-14.06	-20.69
Change in Accounts Payable	41.53	-28.83	49.15	13.44	41.15
Change in Other Net Operating Assets	-0.12	1.02	-	-	-
Operating Cash Flow	-17.45	-11.33	36.79	-32.38	4.45
Operating Cash Flow Growth	-	-	-	-	-91.51%
Capital Expenditures	-7.5	-9.28	-16.19	-38.15	-25.97
Sale of Property, Plant & Equipment	0.21	0.02	-	-	-
Investment in Securities	-9.14	52.94	-69.44	-4.9	0.76
Other Investing Activities	15.33	5.59	5.3	-23.19	-
Investing Cash Flow	-1.1	49.27	-80.33	-66.24	-25.21
Short-Term Debt Issued	-	-	17.56	4.01	11.56
Long-Term Debt Issued	88.65	37.42	-	-	-
Total Debt Issued	88.65	37.42	17.56	4.01	11.56
Short-Term Debt Repaid	-	-	-6.17	-	-27.55
Long-Term Debt Repaid	-42.69	-33.1	-4.98	-3.46	-4.33
Total Debt Repaid	-42.69	-33.1	-11.15	-3.46	-31.88
Net Debt Issued (Repaid)	45.96	4.31	6.41	0.55	-20.32
Issuance of Common Stock	-	7.63	-	-	303.02
Common Dividends Paid	-1.07	-1.03	-16.36	-30.16	-0.56
Dividends Paid	-1.07	-1.03	-16.36	-30.16	-0.56
Other Financing Activities	-34.61	1.22	3.29	-0.71	-26.89
Financing Cash Flow	10.28	12.12	-6.67	-30.32	255.25
Foreign Exchange Rate Adjustments	-0.01	0	-0	-	-
Net Cash Flow	-8.28	50.06	-50.2	-128.94	234.49
Free Cash Flow	-24.95	-20.62	20.6	-70.53	-21.52
Free Cash Flow Margin	-8.12%	-4.30%	6.01%	-14.99%	-4.24%
Free Cash Flow Per Share	-0.23	-0.18	0.19	-0.65	-0.23
Cash Interest Paid	0.09	0.09	0.13	-	0.12
Cash Income Tax Paid	24.22	22.99	23	38.28	32.24
Levered Free Cash Flow	13	-7.97	26.27	-113.3	-55.37
Unlevered Free Cash Flow	13.75	-7.5	26.58	-113.09	-55.18
Change in Working Capital	26.72	-48.71	42.76	-102.09	-115.37

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