China Union Holdings Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Jan '21 Jan 1, 2021	2016 - 2020
Net Income	38.74	40.51	81.63	435.75	406.32	551.17	Upgrade
Depreciation & Amortization	56.31	56.31	55.12	54.5	53.9	50.52	Upgrade
Other Amortization	1.22	1.22	1.07	1.05	6.55	9.03	Upgrade
Gain (Loss) on Sale of Assets	-0.69	-0.69	-	-	-	-	Upgrade
Gain (Loss) on Sale of Investments	-31.41	-31.41	-31.85	-24.21	-38.92	21.11	Upgrade
Asset Writedown	0.09	0.09	0.05	0	0.05	0.02	Upgrade
Change in Accounts Receivable	121.74	121.74	-36.37	-37.02	-184.08	148.71	Upgrade
Change in Other Net Operating Assets	-486.85	-486.85	-1,123	264.49	-638.15	-1,538	Upgrade
Other Operating Activities	229.47	40.48	52.78	225.92	173.27	266.46	Upgrade
Operating Cash Flow	-132.33	-319.55	-938.12	2,255	-114.62	-539.01	Upgrade
Acquisition of Real Estate Assets	-2.39	-6.73	-51.08	-0.65	-251.14	-2.8	Upgrade
Sale of Real Estate Assets	49.77	50.74	-	0.01	0	-	Upgrade
Net Sale / Acq. of Real Estate Assets	47.37	44	-51.08	-0.64	-251.14	-2.8	Upgrade
Cash Acquisition	-	-1.13	-635.22	-	-	-	Upgrade
Investment in Marketable & Equity Securities	-518.97	328.36	-176.23	400	-540	-211	Upgrade
Other Investing Activities	14.63	19.43	38.16	304.43	39.73	43.93	Upgrade
Investing Cash Flow	-456.98	390.66	-824.37	703.79	-751.4	-169.86	Upgrade
Long-Term Debt Issued	-	-	-	-	49.9	100	Upgrade
Long-Term Debt Repaid	-	-95.73	-3.53	-751.56	-676.8	-32	Upgrade
Net Debt Issued (Repaid)	-51.43	-95.73	-3.53	-751.56	-626.9	68	Upgrade
Repurchase of Common Stock	-297.13	-297.13	-	-	-	-	Upgrade
Common Dividends Paid	-16.53	-48.02	-84.4	-171.11	-454.17	-725.26	Upgrade
Other Financing Activities	237.99	-6.65	-85.64	-250.4	-2.47	-	Upgrade
Foreign Exchange Rate Adjustments	0	0	0	0.01	-0	-0.01	Upgrade
Net Cash Flow	-716.4	-376.42	-1,936	1,786	-1,950	-1,366	Upgrade
Cash Interest Paid	1.8	1.8	0.57	0.69	-	-	Upgrade
Cash Income Tax Paid	57.18	72.35	1,085	-290.88	1,178	2,254	Upgrade
Levered Free Cash Flow	78.08	-28.62	-1,646	1,776	-733.39	-672.83	Upgrade
Unlevered Free Cash Flow	95.4	-9.63	-1,624	1,819	-700.86	-644.89	Upgrade
Change in Working Capital	-424.66	-424.66	-1,098	1,562	-716.29	-1,437	Upgrade

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