Gstarsoft 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	50.8	63	54.14	62.24	70.11
Depreciation & Amortization	8.91	4.56	3.65	3.49	2.75
Other Amortization	0.65	0.3	0.22	-	0.22
Loss (Gain) From Sale of Assets	0.01	-0.06	-0.01	-	0.03
Asset Writedown & Restructuring Costs	0	0	0	-	-0.18
Loss (Gain) From Sale of Investments	-7.94	-7.23	0.3	0.48	-2.32
Provision & Write-off of Bad Debts	4.17	3.13	2.37	1.74	1.16
Other Operating Activities	2.67	-4.06	-1.58	-1.01	2.89
Change in Accounts Receivable	-4.65	3.82	-8.1	-21.21	-9.01
Change in Inventory	-0.92	0.06	0.05	-0.6	0.04
Change in Accounts Payable	24.87	11.36	16.88	-8.37	-23.79
Change in Other Net Operating Assets	14.66	-6.97	12.53	5.32	8.35
Operating Cash Flow	91.61	66.46	80.03	41.58	52.69
Operating Cash Flow Growth	37.85%	-16.96%	92.46%	-21.08%	-24.41%
Capital Expenditures	-9.24	-2.87	-14.36	-1.3	-4.31
Sale of Property, Plant & Equipment	0	0	0	-	0
Cash Acquisitions	-46.05	-	-	-	-
Investment in Securities	159	30	-270.42	24.7	-25
Other Investing Activities	8.08	7.19	-	-	2.39
Investing Cash Flow	111.78	34.32	-284.78	23.39	-26.92
Long-Term Debt Repaid	-1.88	-1.28	-0.95	-1.14	-
Net Debt Issued (Repaid)	-1.88	-1.28	-0.95	-1.14	-
Issuance of Common Stock	-	-	1,083	-	-
Repurchase of Common Stock	-10.12	-9.36	-	-	-
Common Dividends Paid	-45.51	-44.87	-	-0.01	-
Dividends Paid	-45.51	-44.87	-	-0.01	-
Other Financing Activities	7.36	-7.86	-20.5	-3.44	-4.73
Financing Cash Flow	-50.16	-63.38	1,062	-4.58	-4.73
Foreign Exchange Rate Adjustments	-4.78	1.21	1.43	1.34	-2.83
Net Cash Flow	148.46	38.61	858.23	61.73	18.22
Free Cash Flow	82.37	63.59	65.68	40.28	48.38
Free Cash Flow Growth	29.54%	-3.18%	63.05%	-16.74%	5.22%
Free Cash Flow Margin	24.80%	22.00%	23.61%	16.73%	20.48%
Free Cash Flow Per Share	1.26	0.97	1.15	0.82	0.98
Cash Income Tax Paid	17.85	14.55	13.49	11.67	15.6
Levered Free Cash Flow	45.89	32.7	51.84	12.24	39.67
Unlevered Free Cash Flow	46.06	32.76	51.86	12.27	39.71
Change in Working Capital	32.33	6.8	20.93	-25.36	-21.96

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