FSPG Hi-Tech CO. 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	Jan '25 Jan 1, 2025	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	108.02	119.64	213.97	136.41	121.92
Depreciation & Amortization	152.61	127.73	123.61	134.63	127.69
Other Amortization	1.29	0.24	0.23	0.23	3.27
Loss (Gain) From Sale of Assets	0.44	0.93	-120.93	-0.15	-0.26
Asset Writedown & Restructuring Costs	1.14	0.6	22.21	0.4	27.42
Loss (Gain) From Sale of Investments	-40.88	-19.32	4.17	-18.56	-1.31
Provision & Write-off of Bad Debts	0.75	-6.43	9.05	-0.65	4.03
Other Operating Activities	46.03	62.12	85.68	98.09	97.43
Change in Accounts Receivable	3.55	-53.66	34.56	-61.93	-89.98
Change in Inventory	-196.12	33.68	-27.75	-113.08	-38.23
Change in Accounts Payable	130.61	-60.28	-17.94	1.3	37.01
Change in Other Net Operating Assets	-	-	-	2.09	2.64
Operating Cash Flow	182.71	207.8	326.11	174.95	289.04
Operating Cash Flow Growth	-12.07%	-36.28%	86.40%	-39.47%	-23.26%
Capital Expenditures	-360.68	-207.73	-299.42	-74.96	-90.92
Sale of Property, Plant & Equipment	1.12	21.73	282.09	0.84	2.29
Divestitures	-	11.19	-0.01	-	-0.05
Investment in Securities	-371.87	-201.11	-153.77	46.99	-104.76
Other Investing Activities	4.43	29.99	15.07	32.92	51.82
Investing Cash Flow	-726.99	-317.7	-156.05	5.79	-141.63
Long-Term Debt Issued	867.64	398.68	370.81	715.98	398.64
Long-Term Debt Repaid	-558.39	-298.25	-591.42	-598.95	-476.84
Net Debt Issued (Repaid)	309.25	100.42	-220.6	117.03	-78.2
Common Dividends Paid	-56.68	-85.24	-64.18	-67.15	-51.42
Other Financing Activities	20.58	-17.42	-23.38	309.58	0.4
Financing Cash Flow	273.16	-2.24	-308.16	359.46	-129.22
Foreign Exchange Rate Adjustments	-2.07	2.17	2.39	2.81	-0.75
Net Cash Flow	-273.2	-109.97	-135.71	543.02	17.45
Free Cash Flow	-177.98	0.07	26.69	99.99	198.12
Free Cash Flow Growth	-	-99.75%	-73.31%	-49.53%	-30.61%
Free Cash Flow Margin	-7.98%	0.00%	1.21%	3.79%	8.06%
Free Cash Flow Per Share	-0.18	-	0.03	0.10	0.20
Cash Income Tax Paid	32.73	59.86	88.41	56.02	83.32
Levered Free Cash Flow	-377.27	-43.33	128.5	3.02	93.04
Unlevered Free Cash Flow	-362.41	-28.45	144.08	23.85	111.89
Change in Working Capital	-86.88	-77.64	-12.01	-175.49	-91.11

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