Hainan Jingliang Holdings 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	Jan '22 Jan 1, 2022
Net Income	-266.09	26.13	102.35	141.41	204.46
Depreciation & Amortization	139.99	137.62	134.77	116.94	113.3
Other Amortization	2.11	1.45	1.65	1.57	0.8
Loss (Gain) From Sale of Assets	-14.06	-0.03	0.25	-0.2	0.21
Asset Writedown & Restructuring Costs	84.21	-	29	-	0.09
Loss (Gain) From Sale of Investments	58.97	104.45	-244.15	-74.34	22.63
Provision & Write-off of Bad Debts	0.09	-6.73	5.13	45.75	0.45
Other Operating Activities	112.2	69.02	65.84	68.83	77.48
Change in Accounts Receivable	-255.49	-76.36	368.73	-261.63	461.23
Change in Inventory	924.98	-329.67	-253.55	-214.31	-682.31
Change in Accounts Payable	-124.61	-4.87	-106.59	-357.8	464.01
Operating Cash Flow	646.78	-109.47	109.49	-533.23	632.24
Capital Expenditures	-100.32	-47.51	-105.16	-40.24	-66.83
Sale of Property, Plant & Equipment	26.93	0.66	0.06	1.01	0.34
Investment in Securities	11.33	82.19	584.49	513.03	-443.2
Other Investing Activities	0.9	-1.59	-5.06	0.77	30.89
Investing Cash Flow	-61.16	33.75	474.33	474.57	-478.79
Long-Term Debt Issued	4,183	3,898	3,359	4,400	3,598
Total Debt Issued	4,183	3,898	3,359	4,400	3,598
Long-Term Debt Repaid	-4,290	-3,824	-2,826	-4,238	-3,502
Total Debt Repaid	-4,290	-3,824	-2,826	-4,238	-3,502
Net Debt Issued (Repaid)	-106.8	73.78	533.67	161.45	95.47
Issuance of Common Stock	-	0.84	3.09	2.76	1.09
Common Dividends Paid	-71.81	-109.75	-61.54	-	-50.07
Other Financing Activities	0.06	-18.35	-69.71	-64.15	-27.05
Financing Cash Flow	-178.56	-53.48	405.51	100.07	19.44
Foreign Exchange Rate Adjustments	-14.27	-15.91	-0.13	3.1	-0.34
Net Cash Flow	392.79	-145.12	989.2	44.51	172.54
Free Cash Flow	546.46	-156.98	4.33	-573.47	565.41
Free Cash Flow Margin	6.95%	-1.37%	0.04%	-4.46%	4.81%
Free Cash Flow Per Share	0.76	-0.24	0.01	-0.77	0.77
Cash Interest Paid	-	-	-	46	-
Cash Income Tax Paid	98.15	87.97	178.59	238.78	185.19
Levered Free Cash Flow	285.36	389.43	-529.49	-255.01	575.27
Unlevered Free Cash Flow	331.17	427.24	-490.68	-226.25	601.71
Change in Working Capital	529.35	-441.37	14.66	-833.21	212.84

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