Wushang Group 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	Dec '21 Dec 31, 2021
Net Income	180.43	215.99	209.08	301.8	752.42
Depreciation & Amortization	744.92	825.51	810.45	483.88	466.9
Other Amortization	203.5	165.43	153.25	96.12	77.05
Loss (Gain) From Sale of Assets	-11.35	-61.54	-122.31	-3.69	-6.2
Asset Writedown & Restructuring Costs	1.93	4.33	2.07	19.6	4.68
Loss (Gain) From Sale of Investments	-18.07	-7.64	-10.79	-10.32	-10.43
Provision & Write-off of Bad Debts	0.32	-0.04	0.01	0.02	0.05
Other Operating Activities	279.53	342.46	371.61	163.67	146.96
Change in Accounts Receivable	34.22	-82.41	14.04	349.3	530.74
Change in Inventory	34.7	252.28	172.47	-8.76	370.63
Change in Accounts Payable	-221.83	-383.08	779.3	-758.09	-143.48
Operating Cash Flow	1,233	1,286	2,405	623.51	2,176
Operating Cash Flow Growth	-4.11%	-46.53%	285.76%	-71.35%	76.96%
Capital Expenditures	-780.94	-487.39	-1,426	-2,470	-3,794
Sale of Property, Plant & Equipment	1.11	84.48	99.38	1.36	28.53
Investment in Securities	-308.45	-70	-	-	-
Other Investing Activities	6.07	61.7	10.12	10.18	10.19
Investing Cash Flow	-1,082	-411.21	-1,317	-2,459	-3,756
Long-Term Debt Issued	3,820	4,854	5,400	6,692	5,458
Long-Term Debt Repaid	-3,428	-5,483	-5,306	-4,315	-3,270
Net Debt Issued (Repaid)	392.23	-628.96	94.9	2,377	2,188
Repurchase of Common Stock	-	-143.59	-	-	-
Common Dividends Paid	-489.14	-498.2	-411.32	-443.22	-345
Other Financing Activities	2.48	1.98	-	-	-
Financing Cash Flow	-94.43	-1,269	-316.42	1,934	1,843
Net Cash Flow	56.67	-393.8	772.27	98.61	263.83
Free Cash Flow	452.36	798.79	979.19	-1,847	-1,618
Free Cash Flow Growth	-43.37%	-18.42%	-	-	-
Free Cash Flow Margin	7.44%	11.92%	13.64%	-29.14%	-22.70%
Free Cash Flow Per Share	0.60	1.04	1.26	-2.39	-2.11
Cash Income Tax Paid	657.17	675	638.71	790.59	814.99
Levered Free Cash Flow	-181.13	93.03	327.76	-1,652	-1,317
Unlevered Free Cash Flow	-6.67	306.32	559.06	-1,549	-1,227
Change in Working Capital	-147.9	-198.32	991.91	-427.57	744.91

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