SBT Ultrasonic 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	117.55	85.87	66.54	110.85	69.25
Depreciation & Amortization	18.94	15.92	14.47	9.62	5.51
Other Amortization	3.78	5.95	3.83	2.07	1.12
Loss (Gain) From Sale of Assets	4.03	0.75	0.1	-0	0
Asset Writedown & Restructuring Costs	7.65	26.39	-0.24	0.2	-0.04
Loss (Gain) From Sale of Investments	-11.72	-33.61	-18.88	-3.87	-2.49
Provision & Write-off of Bad Debts	41.69	10.17	7.24	3.44	3.45
Other Operating Activities	5.17	8.37	32.4	10.86	8.72
Change in Accounts Receivable	-55.35	-254.11	-62.7	-47.77	-154.74
Change in Inventory	-182.51	-7.97	3.3	-80.15	-97.25
Change in Accounts Payable	119.47	82.33	-52.18	-2.61	133.07
Change in Other Net Operating Assets	21.11	7.22	14.38	3.94	3.84
Operating Cash Flow	81.2	-54.38	9.76	4.04	-30.57
Operating Cash Flow Growth	-	-	141.38%	-	-
Capital Expenditures	-128.11	-134.42	-34.06	-34.26	-13.14
Sale of Property, Plant & Equipment	0.43	0.41	0.43	0.08	0
Cash Acquisitions	-	-	-	-	-0.56
Divestitures	-	-2.63	-	-	-
Investment in Securities	149.33	-56.5	297.13	-522.08	-42.05
Other Investing Activities	22.91	15.98	17.2	3.54	2.09
Investing Cash Flow	44.56	-177.15	280.7	-552.73	-50.16
Short-Term Debt Issued	241.15	255.47	228.6	202.5	12.5
Total Debt Issued	241.15	255.47	228.6	202.5	12.5
Short-Term Debt Repaid	-260	-252.43	-136.4	-75	-27.5
Long-Term Debt Repaid	-5.04	-7.04	-5.82	-5.41	-2.44
Total Debt Repaid	-265.04	-259.47	-142.22	-80.41	-29.94
Net Debt Issued (Repaid)	-23.89	-4	86.38	122.09	-17.44
Issuance of Common Stock	41.98	1.05	-	1,333	163
Repurchase of Common Stock	-	-134.01	-	-	-
Common Dividends Paid	-67.77	-29.43	-87.29	-2.25	-16.1
Other Financing Activities	-	-	0.53	-41.58	-0.59
Financing Cash Flow	-49.68	-166.39	-0.38	1,411	128.87
Foreign Exchange Rate Adjustments	0.05	0.04	0.33	0.19	0.37
Net Cash Flow	76.14	-397.88	290.4	862.73	48.51
Free Cash Flow	-46.91	-188.79	-24.3	-30.22	-43.71
Free Cash Flow Margin	-6.06%	-32.30%	-4.63%	-5.78%	-11.79%
Free Cash Flow Per Share	-0.41	-1.67	-0.21	-0.30	-0.55
Cash Income Tax Paid	67.35	27.88	46.2	27.13	38.57
Levered Free Cash Flow	-101.56	-231.04	-78.33	-101.29	-78.15
Unlevered Free Cash Flow	-97.86	-226.46	-74.27	-99.32	-77.24
Change in Working Capital	-105.89	-174.18	-95.71	-129.13	-116.11

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