Rongfeng Holding 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	Jan '22 Jan 1, 2022
Net Income	25.27	-367.78	-49.63	-37.93	235.6
Depreciation & Amortization	38.77	40.44	34.96	34.87	31.26
Other Amortization	-	0	-	2.16	0.55
Loss (Gain) From Sale of Assets	0.01	-	-	-0.15	-
Asset Writedown & Restructuring Costs	-1.4	98.94	-	-1.43	77.83
Loss (Gain) From Sale of Investments	-	0.03	-3.75	-6.52	-526.37
Provision & Write-off of Bad Debts	-	-	-	60.73	5.34
Other Operating Activities	14.89	209.15	27.05	54.47	89.67
Change in Accounts Receivable	-0.59	21.05	14.49	-238.88	-83.19
Change in Inventory	233.6	71.35	60.08	190.19	230.19
Change in Accounts Payable	-71.88	-77.41	-80.23	-131.42	57.66
Change in Other Net Operating Assets	-	18.55	-1.57	-	-
Operating Cash Flow	261.87	14.51	3.61	-86.64	114.14
Operating Cash Flow Growth	1704.73%	301.77%	-	-	-
Capital Expenditures	-0.02	-0.22	-0.03	-2.82	-2.12
Cash Acquisitions	-	-	-	-	-151.24
Divestitures	-	-	-	-42.38	661.8
Investment in Securities	-	25.54	121.57	-156.72	-
Other Investing Activities	-	-	-	0.07	0.06
Investing Cash Flow	-0.02	25.32	121.54	-201.86	508.5
Short-Term Debt Issued	-	-	-	314.81	724.1
Long-Term Debt Issued	5	228.23	239.86	155	606.52
Total Debt Issued	5	228.23	239.86	469.81	1,331
Short-Term Debt Repaid	-	-	-	-446.51	-652.56
Long-Term Debt Repaid	-53.31	-248.1	-274.03	-248.08	-836.98
Total Debt Repaid	-53.31	-248.1	-274.03	-694.59	-1,490
Net Debt Issued (Repaid)	-48.31	-19.87	-34.17	-224.78	-158.91
Common Dividends Paid	-12.98	-23.88	-45.06	-34.1	-42.12
Other Financing Activities	-15.4	9.8	-10.97	250.1	-137.7
Financing Cash Flow	-76.69	-33.95	-90.2	-8.78	-338.74
Foreign Exchange Rate Adjustments	-	-	-	-	-0.1
Net Cash Flow	185.16	5.88	34.95	-297.27	283.8
Free Cash Flow	261.85	14.29	3.58	-89.46	112.02
Free Cash Flow Growth	1732.79%	299.33%	-	-	-
Free Cash Flow Margin	64.46%	10.71%	3.05%	-14.01%	44.41%
Free Cash Flow Per Share	1.80	0.10	0.03	-0.61	0.72
Cash Income Tax Paid	30.8	21.41	44.06	123.09	86.75
Levered Free Cash Flow	145.42	181.8	277.63	592.44	-264.5
Unlevered Free Cash Flow	145.42	191.73	295.69	621.39	-239.68
Change in Working Capital	184.32	33.72	-5.02	-192.83	200.26

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