Jiangxi Sunshine Dairy Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	99.78	102.76	114.56	115.82	110.89	135.7
Depreciation & Amortization	31.41	31.41	31.18	31.51	28.06	26.21
Other Amortization	3.41	3.41	5.65	9.51	8.71	7.09
Loss (Gain) From Sale of Assets	0.08	0.08	-	-0.48	0.01	0
Asset Writedown & Restructuring Costs	5.9	5.9	7.25	5.43	1.7	2.84
Loss (Gain) From Sale of Investments	-	-	-	-0.45	-	-
Provision & Write-off of Bad Debts	-	-	0.79	0.22	-0.39	-
Other Operating Activities	-6.89	-0.49	-0.91	-1.73	-0.97	1.9
Change in Accounts Receivable	-63.44	-63.44	-14.47	-9.43	9.81	-4.38
Change in Inventory	5.63	5.63	-0.75	17.19	-8.27	-11.68
Change in Accounts Payable	54.52	54.52	-3.23	1.95	8.83	16.14
Operating Cash Flow	129.35	138.73	139.54	168.59	160.1	177.14
Operating Cash Flow Growth	-22.26%	-0.58%	-17.23%	5.30%	-9.62%	26.35%
Capital Expenditures	-27.25	-25.74	-34.09	-35.37	-51.53	-46.98
Sale of Property, Plant & Equipment	1.23	1.17	6.59	4.23	2.65	2.21
Investment in Securities	-275	-275	-10	30	-580	-
Other Investing Activities	10.8	19.4	8.81	0.45	-	-
Investing Cash Flow	-290.22	-280.18	-28.69	-0.69	-628.88	-44.78
Short-Term Debt Issued	-	-	-	-	-	100
Total Debt Issued	-	-	-	-	-	100
Short-Term Debt Repaid	-	-	-	-	-100	-100
Long-Term Debt Repaid	-	-	-0.97	-0.99	-1	-0.92
Total Debt Repaid	-	-	-0.97	-0.99	-101	-100.92
Net Debt Issued (Repaid)	-	-	-0.97	-0.99	-101	-0.92
Issuance of Common Stock	-	-	-	-	600.8	-
Common Dividends Paid	-50.88	-50.88	-45.23	-42.4	-1.28	-153.45
Other Financing Activities	-0.97	-0.97	-	-	4.85	-
Financing Cash Flow	-51.85	-51.85	-46.2	-43.39	503.37	-154.38
Net Cash Flow	-212.72	-193.3	64.66	124.52	34.6	-22.02
Free Cash Flow	102.1	112.99	105.45	133.22	108.57	130.15
Free Cash Flow Growth	-24.79%	7.14%	-20.84%	22.70%	-16.58%	394.79%
Free Cash Flow Margin	21.74%	23.68%	20.30%	23.37%	19.06%	20.64%
Free Cash Flow Per Share	0.36	0.40	0.37	0.47	0.43	0.61
Cash Income Tax Paid	34.63	36.81	38.25	39.03	33.7	41.57
Levered Free Cash Flow	-212.99	-752.23	57.98	77.68	59.84	63.17
Unlevered Free Cash Flow	-212.99	-752.23	58.05	77.71	60.65	65.41
Change in Working Capital	-4.34	-4.34	-18.98	8.75	12.09	3.4

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