Wuliangye Yibin 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	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	28,434	31,853	30,211	26,690	23,377	19,955
Depreciation & Amortization	1,070	1,070	906.97	893.18	859.07	463.25
Other Amortization	149.14	149.14	75.16	72.01	57.93	48.21
Loss (Gain) From Sale of Assets	3.36	3.36	-1.27	-3.35	1.91	-1.13
Asset Writedown & Restructuring Costs	14.21	14.21	45.87	14.92	17.38	-0.52
Loss (Gain) From Sale of Investments	-75.2	-75.2	-57.62	-92.57	-97.35	-93.5
Provision & Write-off of Bad Debts	-0.08	-0.08	-0.84	-0.28	1.06	-2.5
Other Operating Activities	3,249	1,376	1,327	1,335	1,209	973.81
Change in Accounts Receivable	-6,529	-6,529	14,310	-3,969	-5,011	-2,122
Change in Inventory	-840.31	-840.31	-1,406	-1,964	-790.61	444.84
Change in Accounts Payable	7,910	7,910	-3,502	1,814	7,348	-4,638
Operating Cash Flow	32,393	33,940	41,742	24,431	26,775	14,698
Operating Cash Flow Growth	-34.09%	-18.69%	70.86%	-8.75%	82.16%	-36.40%
Capital Expenditures	-2,539	-2,666	-2,957	-1,781	-1,539	-993.76
Sale of Property, Plant & Equipment	36.14	10.14	1.77	46.67	6.18	6.44
Investment in Securities	-26.05	13.95	23.64	17.41	36.1	-734.69
Other Investing Activities	-13.95	-	-	-	-	-
Investing Cash Flow	-2,543	-2,642	-2,932	-1,716	-1,497	-1,722
Long-Term Debt Repaid	-	-473.46	-428.61	-402.86	-395.16	-
Net Debt Issued (Repaid)	-473.46	-473.46	-428.61	-402.86	-395.16	-
Common Dividends Paid	-18,529	-18,127	-14,680	-11,734	-10,015	-8,540
Other Financing Activities	-84.28	-1,022	-1,191	-968.47	-859.75	-673.69
Financing Cash Flow	-19,087	-19,622	-16,300	-13,105	-11,269	-9,213
Foreign Exchange Rate Adjustments	0.53	0.53	0.63	0.14	-0.47	-0.13
Net Cash Flow	10,764	11,676	22,511	9,609	14,008	3,763
Free Cash Flow	29,854	31,273	38,785	22,651	25,236	13,705
Free Cash Flow Growth	-36.50%	-19.37%	71.23%	-10.24%	84.14%	-36.00%
Free Cash Flow Margin	36.32%	35.07%	46.58%	30.62%	38.12%	23.91%
Free Cash Flow Per Share	7.69	8.06	9.99	5.83	6.50	3.53
Cash Income Tax Paid	34,826	34,321	30,916	27,701	25,060	23,171
Levered Free Cash Flow	28,108	35,501	33,307	17,736	20,145	10,946
Unlevered Free Cash Flow	28,132	35,526	33,315	17,766	20,188	10,946
Change in Working Capital	-451.14	-451.14	9,237	-4,478	1,349	-6,644

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