Caissa Tourism 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	68.34	-103.04	607.44	-1,035	-689.77
Depreciation & Amortization	23.83	17.37	18.47	66	110.15
Other Amortization	1.81	5.81	6.62	12.37	21.21
Loss (Gain) From Sale of Assets	1.29	-0.09	-36.38	8.41	2.98
Asset Writedown & Restructuring Costs	36.09	1.38	0.5	183.73	45.86
Loss (Gain) From Sale of Investments	-173.85	3.91	-788.04	159.21	-80.8
Provision & Write-off of Bad Debts	-	1.24	-20.47	41.66	45.45
Other Operating Activities	-35.71	32.96	49.85	333.37	129.57
Change in Accounts Receivable	-65.46	19.57	-141.03	-256.37	642.06
Change in Inventory	2.81	-4.42	-1.43	5.99	4.06
Change in Accounts Payable	22.33	-142.32	692.65	68.62	-310.05
Change in Other Net Operating Assets	-	-0.51	8.42	34.93	-17.89
Operating Cash Flow	-94.32	-177.12	392.59	-383.39	-84.65
Capital Expenditures	-36.08	-3.85	-3.06	-8.38	-16.01
Sale of Property, Plant & Equipment	0.05	0.02	-	0	35.4
Cash Acquisitions	-23.78	-	-	-	-
Divestitures	-	-	-0.56	-7.32	117.59
Investment in Securities	-11.1	0.14	2.5	70.72	-288.69
Other Investing Activities	-	-	3.42	-	154.22
Investing Cash Flow	-70.91	-3.69	2.3	55.03	2.51
Long-Term Debt Issued	13	3.6	89.64	36.5	637.34
Total Debt Issued	13	3.6	89.64	36.5	637.34
Long-Term Debt Repaid	-34.31	-50.5	-74.58	-52.33	-730.24
Total Debt Repaid	-34.31	-50.5	-74.58	-52.33	-730.24
Net Debt Issued (Repaid)	-21.31	-46.9	15.06	-15.83	-92.91
Issuance of Common Stock	121.84	544.86	-	-	-
Common Dividends Paid	-5.66	-7.62	-2.98	-14.94	-79.93
Other Financing Activities	-6.92	0.99	-	-0.55	-33.99
Financing Cash Flow	87.95	491.33	12.08	-31.32	-206.83
Foreign Exchange Rate Adjustments	-0.72	3.92	-0.23	-6.18	-1.77
Net Cash Flow	-78	314.44	406.74	-365.87	-290.74
Free Cash Flow	-130.4	-180.97	389.53	-391.77	-100.66
Free Cash Flow Margin	-16.31%	-27.70%	66.92%	-127.82%	-10.71%
Free Cash Flow Per Share	-0.09	-0.12	0.24	-0.24	-0.13
Cash Income Tax Paid	44.5	34.49	19.83	16.51	38.25
Levered Free Cash Flow	-96.86	563.62	-804.59	-333.84	602.71
Unlevered Free Cash Flow	-96.86	571.52	-686.69	-253.36	684.02
Change in Working Capital	-16.12	-136.65	554.61	-152.91	330.7

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