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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	90.45	70.15	40.51	81.63	435.75	406.32
Depreciation & Amortization	64.17	64.17	56.31	55.12	54.5	53.9
Other Amortization	1.17	1.17	1.22	1.07	1.05	6.55
Gain (Loss) on Sale of Assets	-0.03	-0.03	-0.69	-	-	-
Gain (Loss) on Sale of Investments	-15	-15	-31.41	-31.85	-24.21	-38.92
Asset Writedown	-1.75	-1.75	0.09	0.05	0	0.05
Change in Accounts Receivable	-19.25	-19.25	121.74	-36.37	-37.02	-184.08
Change in Other Net Operating Assets	113.64	113.64	-486.85	-1,123	264.49	-638.15
Other Operating Activities	107.34	53.14	40.48	52.78	225.92	173.27
Operating Cash Flow	360.05	285.55	-319.55	-938.12	2,255	-114.62
Acquisition of Real Estate Assets	-5.28	-1.21	-6.73	-51.08	-0.65	-251.14
Sale of Real Estate Assets	0	0	50.74	-	0.01	0
Net Sale / Acq. of Real Estate Assets	-5.28	-1.21	44	-51.08	-0.64	-251.14
Cash Acquisition	-	-	-1.13	-635.22	-	-
Investment in Marketable & Equity Securities	-79.89	-37.69	328.36	-176.23	400	-540
Other Investing Activities	24.29	24.6	19.43	38.16	304.43	39.73
Investing Cash Flow	-60.87	-14.3	390.66	-824.37	703.79	-751.4
Long-Term Debt Issued	-	60.57	-	-	-	49.9
Long-Term Debt Repaid	-	-59.6	-95.73	-3.53	-751.56	-676.8
Net Debt Issued (Repaid)	73.85	0.97	-95.73	-3.53	-751.56	-626.9
Repurchase of Common Stock	-	-	-297.13	-	-	-
Common Dividends Paid	-36.08	-35.81	-48.02	-84.4	-171.11	-454.17
Other Financing Activities	-43.57	-45.76	-6.65	-85.64	-250.4	-2.47
Foreign Exchange Rate Adjustments	-0.01	-0	0	0	0.01	-0
Net Cash Flow	293.38	190.65	-376.42	-1,936	1,786	-1,950
Cash Interest Paid	-	-	1.8	0.57	0.69	-
Cash Income Tax Paid	-	-	72.35	1,085	-290.88	1,178
Levered Free Cash Flow	564.95	535.51	-28.62	-1,646	1,776	-733.39
Unlevered Free Cash Flow	579.23	550.8	-9.63	-1,624	1,819	-700.86
Change in Working Capital	113.7	113.7	-424.66	-1,098	1,562	-716.29

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