Suzhou Mingzhi Technology Co., Ltd. (SHA:688355)

Suzhou Mingzhi Technology Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	52.66	79.89	66.34	14.66	37.03	123.36
Depreciation & Amortization	39.27	44.46	44.86	36.03	28.69	25.78
Other Amortization	4.29	3.64	1.72	0.99	0.6	0.49
Loss (Gain) From Sale of Assets	0.01	0.02	-0.02	1.49	0.98	0.74
Asset Writedown & Restructuring Costs	-0.15	-0.09	0.06	0.69	-	-
Loss (Gain) From Sale of Investments	-20.17	-13.73	-12.59	-14.56	-16.32	-10.91
Provision & Write-off of Bad Debts	-0.4	-5.26	10.9	10.7	5.02	2.69
Other Operating Activities	-1.03	-21.24	12.79	-0.89	5.06	6.97
Change in Accounts Receivable	4.9	29.62	-12.33	55.72	17.12	-38.01
Change in Inventory	-12.71	16.22	33.02	31.62	-56.49	-6.06
Change in Accounts Payable	177.67	97.2	-50.95	40.53	-32.66	39.45
Change in Other Net Operating Assets	0.01	-2.39	7.79	-2.54	12.46	-0.52
Operating Cash Flow	243.13	231.78	104.53	170.14	-2	142.94
Operating Cash Flow Growth	55.99%	121.73%	-38.56%	-	-	-0.95%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-12.8	-12.72	-19.28	-147.81	-124.51	-46.42
Sale of Property, Plant & Equipment	0.57	0.05	0.11	1.47	0.9	0.29
Investment in Securities	-248.95	-185.73	-87.32	124.18	42.32	-573.63
Other Investing Activities	6.84	3.36	19.78	1.53	9.77	5.48
Investing Cash Flow	-254.33	-195.04	-86.7	-20.63	-71.52	-614.28

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	12.16	122.72	143.36	219.63	-
Total Debt Issued	54	12.16	122.72	143.36	219.63	-
Short-Term Debt Repaid	-	-50.16	-157.89	-223.95	-126.07	-32.6
Long-Term Debt Repaid	-	-0.95	-1.8	-0.95	-1.11	-
Lease Payments	-1.21	-0.95	-1.8	-0.95	-1.11	-
Total Debt Repaid	-1.21	-51.11	-159.69	-224.9	-127.17	-32.6
Net Debt Issued (Repaid)	52.79	-38.95	-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	-62.87	-57.13	-56.8	-9	-51.66	-1.52
Other Financing Activities	1.65	0.04	2.96	2.83	28.89	5.54
Financing Cash Flow	-8.43	-96.04	-79.79	-106.73	71.11	460.78

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-4.32	4.76	0.23	7.85	3.09	0.95
Net Cash Flow	-23.96	-54.55	-61.73	50.64	0.68	-9.61

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	230.33	219.06	85.25	22.32	-126.51	96.53
Free Cash Flow Growth	67.94%	156.95%	281.88%	-	-	16.85%
Free Cash Flow Margin	47.02%	41.30%	13.50%	4.18%	-20.65%	13.52%
Free Cash Flow Per Share	1.86	1.78	0.69	0.18	-1.02	0.88
Levered Free Cash Flow	12.18	139.2	34.2	-11.07	-169.04	42.8
Unlevered Free Cash Flow	12.49	139.54	35.23	-9.27	-167.42	43.63
Free Cash Flow After Leases	229.12	218.1	83.45	21.37	-127.62	96.53

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	-	-10.05	-16	-23.83	-0.73	12.08
Change in Working Capital	168.65	144.09	-19.53	121.02	-63.06	-6.18

Data Source: S&P Global Market Intelligence Last updated: Aug 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 4, 2026

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