Beijing Zodi Investment 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	-431.84	-417.56	-249.73	-184.22	-292.82	-375.68
Depreciation & Amortization	1.69	1.69	2.14	2.49	1.85	5.48
Other Amortization	0.27	0.27	0.33	0.33	0.03	2.31
Loss (Gain) From Sale of Assets	-0.07	-0.07	0.01	-0.01	0	-12.14
Asset Writedown & Restructuring Costs	0.02	0.02	0.01	5.66	0	0.02
Loss (Gain) From Sale of Investments	-5.15	-5.15	-0.38	4.52	-7.48	-4.09
Other Operating Activities	360.5	310.66	186.06	102.92	227.85	335.94
Change in Accounts Receivable	24.37	24.37	-18.18	0.31	-1.49	157.24
Change in Inventory	18.14	18.14	199.05	-15.53	185.78	420.26
Change in Accounts Payable	75.89	75.89	-77.58	31.25	4.74	-376.65
Operating Cash Flow	75.73	40.16	41.69	-52.04	112.75	146.47
Operating Cash Flow Growth	239.00%	-3.68%	-	-	-23.02%	-
Capital Expenditures	-	-	-0	-0.65	-0.55	-0.01
Sale of Property, Plant & Equipment	0.18	0.18	0.16	0.11	0	13.68
Divestitures	-	-	-	-	36.4	130
Investment in Securities	-	-	4	-	-	-
Other Investing Activities	-	-	1.83	-	0.19	0.14
Investing Cash Flow	0.18	0.18	5.98	-0.54	36.05	143.82
Long-Term Debt Issued	-	21.46	28.82	77.99	69.25	46.75
Long-Term Debt Repaid	-	-33.17	-15.07	-9.43	-187.78	-261.62
Net Debt Issued (Repaid)	-45.05	-11.72	13.75	68.56	-118.53	-214.87
Common Dividends Paid	-29.9	-28.72	-45.37	-40.05	-84.35	-97.96
Other Financing Activities	-26.28	-	-	-	-	-0.48
Financing Cash Flow	-101.23	-40.44	-31.62	28.52	-202.88	-313.32
Foreign Exchange Rate Adjustments	-0	-0	0	0	0.01	-0.04
Net Cash Flow	-25.32	-0.1	16.05	-24.06	-54.06	-23.07
Free Cash Flow	75.73	40.16	41.69	-52.69	112.21	146.46
Free Cash Flow Growth	239.06%	-3.67%	-	-	-23.39%	-
Free Cash Flow Margin	23.92%	19.34%	13.65%	-91.40%	26.23%	18.67%
Free Cash Flow Per Share	0.25	0.14	0.14	-0.18	0.38	0.49
Cash Income Tax Paid	3.98	4.23	12.42	11.24	14.23	19.17
Levered Free Cash Flow	488.62	66.53	68.86	-85.41	-15.81	434.73
Unlevered Free Cash Flow	575.87	153.79	139.02	-21.38	33.11	484.96
Change in Working Capital	150.3	150.3	103.26	16.27	183.31	194.63

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