Dalian Friendship (Group) Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-93.4	-77.64	-37.17	-50.16	-215.91	25.76
Depreciation & Amortization	20.59	20.59	21.35	23.89	24.31	20.24
Other Amortization	2.27	2.27	3.16	3.24	2.58	5.48
Loss (Gain) From Sale of Assets	-0.69	-0.69	-	-	-	0
Asset Writedown & Restructuring Costs	8.49	8.49	8.3	-4.37	229.45	2.21
Loss (Gain) From Sale of Investments	-	-	-	-	-1	-173.35
Provision & Write-off of Bad Debts	3.31	3.31	0.45	-	-	-
Other Operating Activities	-94.41	13	19.71	17.82	-51.58	144.6
Change in Accounts Receivable	-59.27	-59.27	-1.26	0.4	-0.99	31.27
Change in Inventory	-32.75	-32.75	0.46	-4.49	-5.54	3,297
Change in Accounts Payable	25.82	25.82	-20.61	-27.21	4.61	-3,405
Change in Other Net Operating Assets	-	-	-	-	-	2.99
Operating Cash Flow	-220.04	-96.88	-5.62	-40.88	-14.08	-48.23
Capital Expenditures	-0.8	-0.53	-0.68	-2.57	-4.93	-4.27
Sale of Property, Plant & Equipment	0	1.06	0.04	0	0	-
Divestitures	-	-	-	-	-	-416.9
Other Investing Activities	-	-	-	-	-	1,924
Investing Cash Flow	-0.8	0.52	-0.64	-2.57	56.27	1,443
Short-Term Debt Issued	-	185	38.4	8.4	-	888.13
Total Debt Issued	135.09	185	38.4	8.4	-	888.13
Short-Term Debt Repaid	-	-83.4	-8.4	-	-	-1,929
Long-Term Debt Repaid	-	-6.36	-5.73	-58.74	-40.26	-34.55
Total Debt Repaid	-81.36	-89.76	-14.13	-58.74	-40.26	-1,964
Net Debt Issued (Repaid)	53.73	95.24	24.27	-50.34	-40.26	-1,076
Common Dividends Paid	-2.32	-1.99	-1.64	-0.38	-14.87	-180.16
Other Financing Activities	139.7	-0.3	-0.1	49.36	-	-16.45
Financing Cash Flow	191.11	92.95	22.53	-1.36	-55.13	-1,272
Foreign Exchange Rate Adjustments	-0.05	-0.05	-	-	-	-0
Net Cash Flow	-29.78	-3.46	16.28	-44.81	-12.95	122.62
Free Cash Flow	-220.84	-97.41	-6.3	-43.45	-19.01	-52.5
Free Cash Flow Margin	-43.63%	-26.17%	-3.85%	-29.07%	-10.78%	-29.87%
Free Cash Flow Per Share	-0.61	-0.28	-0.02	-0.12	-0.05	-0.14
Cash Interest Paid	0.3	0.3	-	-	-	-
Cash Income Tax Paid	175.96	23.35	14.18	12.2	15.59	14.29
Levered Free Cash Flow	-226.58	-91.75	-0.84	-40.73	-178.76	3,082
Unlevered Free Cash Flow	-203.25	-73.05	15.97	-24.32	-161.95	3,186
Change in Working Capital	-66.2	-66.2	-21.41	-31.3	-1.93	-73.18

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.