Yunnan Tourism 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	-429.11	-28.1	-426.7	-281.16	-325.65
Depreciation & Amortization	103.14	119.3	119.44	111.09	116.05
Other Amortization	7.19	34.4	30.22	32.79	29.03
Loss (Gain) From Sale of Assets	-2.31	-3.67	1.69	-7.27	-0.57
Asset Writedown & Restructuring Costs	62.57	27.85	0.18	12.05	284.27
Loss (Gain) From Sale of Investments	154.48	65.94	107.08	-4.64	-74.18
Provision & Write-off of Bad Debts	-	55.73	118.07	0.04	71.33
Other Operating Activities	45.51	-27.38	-30.4	3.32	41.36
Change in Accounts Receivable	-259.14	31.8	102.86	209.7	636.64
Change in Inventory	0.76	26.23	67.18	5.78	-111.32
Change in Accounts Payable	304.51	-460.33	-248.17	71.9	-912.85
Change in Other Net Operating Assets	8.01	-15.04	-	29.99	-
Operating Cash Flow	31.15	-165.79	-157.15	215.75	-270.49
Capital Expenditures	-66.57	-58.19	-73.2	-166.32	-148.67
Sale of Property, Plant & Equipment	2.47	5.24	0.04	46.85	8.9
Divestitures	-	-	-	8.6	131.34
Investment in Securities	-48.16	-69.84	-	-267.82	-236.57
Other Investing Activities	-	48.72	2.13	215.96	830.43
Investing Cash Flow	-112.26	-74.07	-71.03	-162.73	585.43
Short-Term Debt Issued	-	16.53	-	-	2
Long-Term Debt Issued	185.32	41.57	5	59.52	8
Total Debt Issued	185.32	58.11	5	59.52	10
Short-Term Debt Repaid	-	-1.68	-0.96	-	-
Long-Term Debt Repaid	-146.25	-88.78	-73.74	-243.93	-737.96
Total Debt Repaid	-146.25	-90.46	-74.69	-243.93	-737.96
Net Debt Issued (Repaid)	39.07	-32.36	-69.69	-184.41	-727.96
Common Dividends Paid	-20.04	-22.59	-22.54	-30.4	-77.45
Other Financing Activities	3.83	-	-	-1.72	99.97
Financing Cash Flow	22.86	-54.94	-92.24	-216.53	-705.45
Foreign Exchange Rate Adjustments	0.08	0.05	0.68	0.9	-0.01
Net Cash Flow	-58.16	-294.75	-319.74	-162.61	-390.51
Free Cash Flow	-35.42	-223.98	-230.35	49.42	-419.15
Free Cash Flow Margin	-10.09%	-40.21%	-32.03%	9.18%	-29.56%
Free Cash Flow Per Share	-0.04	-0.22	-0.23	0.05	-0.41
Cash Interest Paid	-	-	-	0.52	0.88
Cash Income Tax Paid	11.8	8.69	69.91	11.5	116.06
Levered Free Cash Flow	-	-289.56	-100.01	562.91	306.29
Unlevered Free Cash Flow	-	-265.7	-82.98	585.18	346.64
Change in Working Capital	89.67	-409.85	-76.72	349.5	-412.14

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