Shenzhen SEG Co.,Ltd 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	69.39	45.21	90.47	15.78	46.38
Depreciation & Amortization	138.56	137.97	163.24	172.13	184.72
Other Amortization	10.39	8.46	11.17	10.96	13.99
Gain (Loss) on Sale of Assets	-	-0.4	-	0.02	-
Gain (Loss) on Sale of Investments	-21.2	-12.64	-95.87	-28.26	-20.98
Asset Writedown	46.49	12.56	-0.92	3.65	0.25
Change in Accounts Receivable	10.08	39.38	48.16	-144.32	-53.64
Change in Accounts Payable	-186.65	-117.04	17.79	154.84	439.96
Other Operating Activities	94.79	152.78	136.24	95.5	136.6
Operating Cash Flow	297.22	256.73	362.45	222.48	754.03
Operating Cash Flow Growth	15.77%	-29.17%	62.91%	-70.49%	209.61%
Acquisition of Real Estate Assets	-233.08	-140.41	-122.68	-64.87	-38.6
Sale of Real Estate Assets	0.73	4.61	0.22	-	-
Net Sale / Acq. of Real Estate Assets	-232.34	-135.8	-122.45	-64.87	-38.6
Cash Acquisition	-68.27	-	-	-	-57.58
Investment in Marketable & Equity Securities	-319.89	88.95	93.09	186.32	241.28
Other Investing Activities	27.87	2.73	4.68	10	27.69
Investing Cash Flow	-592.63	-44.11	-23.17	129.43	233.95
Short-Term Debt Issued	-	-	-	-	350
Long-Term Debt Issued	180.2	82.23	280.76	242.47	126.2
Total Debt Issued	180.2	82.23	280.76	242.47	476.2
Short-Term Debt Repaid	-	-	-	-350	-
Long-Term Debt Repaid	-133.44	-330.76	-340.52	-216.17	-1,076
Total Debt Repaid	-133.44	-330.76	-340.52	-566.17	-1,076
Net Debt Issued (Repaid)	46.75	-248.53	-59.76	-323.7	-599.62
Common Dividends Paid	-36.13	-71.9	-57.07	-62.01	-83.29
Other Financing Activities	-63.05	-41.92	-49.14	-70.92	-30.85
Net Cash Flow	-347.83	-149.73	173.31	-104.72	274.22
Cash Income Tax Paid	194.67	221.03	224.18	164.3	187.62
Levered Free Cash Flow	26.3	230.4	240.4	-141.34	1,177
Unlevered Free Cash Flow	49.44	258.24	271.65	-102.83	1,235
Change in Working Capital	-50.42	-93.76	52.83	-49.54	398.19

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