Suzhou Mingzhi Technology 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	66.34	14.66	37.03	123.36
Depreciation & Amortization	43.35	36.03	28.69	25.78
Other Amortization	3.23	0.99	0.6	0.49
Loss (Gain) From Sale of Assets	0.03	1.49	0.98	0.74
Asset Writedown & Restructuring Costs	0.01	0.69	-	-
Loss (Gain) From Sale of Investments	-12.43	-14.56	-16.32	-10.91
Provision & Write-off of Bad Debts	10.9	10.7	5.02	2.69
Other Operating Activities	12.63	-0.89	5.06	6.97
Change in Accounts Receivable	-12.33	55.72	17.12	-38.01
Change in Inventory	33.02	31.62	-56.49	-6.06
Change in Accounts Payable	-50.95	40.53	-32.66	39.45
Change in Other Net Operating Assets	7.79	-2.54	12.46	-0.52
Operating Cash Flow	104.53	170.14	-2	142.94
Operating Cash Flow Growth	-38.56%	-	-	-0.95%
Capital Expenditures	-19.28	-147.81	-124.51	-46.42
Sale of Property, Plant & Equipment	0.11	1.47	0.9	0.29
Investment in Securities	-87.32	124.18	42.32	-573.63
Other Investing Activities	19.78	1.53	9.77	5.48
Investing Cash Flow	-86.7	-20.63	-71.52	-614.28
Short-Term Debt Issued	122.72	143.36	219.63	-
Total Debt Issued	122.72	143.36	219.63	-
Short-Term Debt Repaid	-157.89	-223.95	-126.07	-32.6
Long-Term Debt Repaid	-1.8	-0.95	-1.11	-
Total Debt Repaid	-159.69	-224.9	-127.17	-32.6
Net Debt Issued (Repaid)	-36.97	-81.54	92.45	-32.6
Issuance of Common Stock	11.02	-	12.82	489.37
Repurchase of Common Stock	-	-19.01	-11.39	-
Common Dividends Paid	-56.8	-9	-51.66	-1.52
Other Financing Activities	2.96	2.83	28.89	5.54
Financing Cash Flow	-79.79	-106.73	71.11	460.78
Foreign Exchange Rate Adjustments	0.23	7.85	3.09	0.95
Net Cash Flow	-61.73	50.64	0.68	-9.61
Free Cash Flow	85.25	22.32	-126.51	96.53
Free Cash Flow Growth	281.88%	-	-	16.85%
Free Cash Flow Margin	13.50%	4.18%	-20.65%	13.52%
Free Cash Flow Per Share	0.69	0.18	-1.02	0.88
Cash Income Tax Paid	-16	-23.83	-0.73	12.08
Levered Free Cash Flow	37.01	-11.07	-169.04	42.8
Unlevered Free Cash Flow	38.04	-9.27	-167.42	43.63
Change in Working Capital	-19.53	121.02	-63.06	-6.18

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