MarcoPolo Holdings 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	1,210	1,327	1,353	1,514
Depreciation & Amortization	390.32	433.48	460.02	468.9
Other Amortization	5.17	3.22	5.1	12.66
Loss (Gain) From Sale of Assets	1.82	-0.32	-7.54	-4.08
Asset Writedown & Restructuring Costs	167.37	236.04	37.81	6.22
Loss (Gain) From Sale of Investments	-127.12	-129.68	-29.62	-27.78
Provision & Write-off of Bad Debts	62.78	83.93	370.97	234.54
Other Operating Activities	25.39	132.99	220.87	19.22
Change in Accounts Receivable	322.16	90.74	31.08	462.5
Change in Inventory	-32.88	177.95	108.17	173.82
Change in Accounts Payable	70.8	-478.1	629.57	224.06
Change in Other Net Operating Assets	7.78	-1.87	-40.16	-66.89
Operating Cash Flow	2,100	1,806	3,048	3,021
Operating Cash Flow Growth	16.28%	-40.75%	0.90%	-
Capital Expenditures	-226.68	-302.77	-255.99	-489.71
Sale of Property, Plant & Equipment	15.01	7.46	19.47	16.84
Investment in Securities	-3,375	-1,997	-285.88	-268.42
Other Investing Activities	73.31	38.17	12.62	63.75
Investing Cash Flow	-3,514	-2,254	-509.77	-677.54
Long-Term Debt Issued	556.97	858.78	670.98	1,521
Short-Term Debt Repaid	-	-	-	-84.22
Long-Term Debt Repaid	-1,049	-849.4	-1,811	-3,411
Total Debt Repaid	-1,049	-849.4	-1,811	-3,495
Net Debt Issued (Repaid)	-491.67	9.38	-1,140	-1,974
Issuance of Common Stock	1,596	-	-	-
Common Dividends Paid	-377.53	-30.61	-379.65	-577.84
Other Financing Activities	-56.46	-	76.68	135.25
Financing Cash Flow	670.19	-21.23	-1,443	-2,417
Foreign Exchange Rate Adjustments	-8.82	1.25	0.49	4.85
Net Cash Flow	-751.95	-467.89	1,096	-68.33
Free Cash Flow	1,874	1,504	2,792	2,531
Free Cash Flow Growth	24.62%	-46.16%	10.31%	-
Free Cash Flow Margin	29.01%	20.53%	31.29%	29.23%
Free Cash Flow Per Share	1.70	1.39	2.60	2.36
Cash Income Tax Paid	-	824.82	987.97	948.38
Levered Free Cash Flow	-817.47	1,039	2,106	-
Unlevered Free Cash Flow	-804.06	1,060	2,143	-
Change in Working Capital	364.52	-280.25	637.86	797.14

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