Zhejiang NetSun 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	-10.74	-22.79	19.1	22.71	22.74	36.99
Depreciation & Amortization	5.47	5.47	6.14	5.32	4.95	4.4
Other Amortization	0.14	0.14	0.07	-	-	-
Loss (Gain) From Sale of Assets	-0.01	-0.01	-0	-0	-0.67	-0.05
Asset Writedown & Restructuring Costs	0.23	0.23	-0	-	-0	-
Loss (Gain) From Sale of Investments	-19.79	-19.79	-16.35	-14.71	-16.51	-6.95
Provision & Write-off of Bad Debts	-0.75	-0.75	0.27	0.89	-0.41	-0.09
Other Operating Activities	287.38	53.05	11.91	14.86	26.78	13.62
Change in Accounts Receivable	-40.87	-40.87	-29.87	-79.02	-111.38	-148.34
Change in Inventory	-8.73	-8.73	-3.07	-9.96	-2.82	-2.64
Change in Accounts Payable	-13.88	-13.88	-80.51	-62.97	19.39	-25.83
Operating Cash Flow	178.74	-67.64	-93.95	-125.44	-59.14	-128.92
Capital Expenditures	-1.09	-0.15	-0.79	-0.33	-3.27	-1.37
Sale of Property, Plant & Equipment	0.04	0.02	0.42	0.09	1.03	0.07
Investment in Securities	-0.1	0.35	-0.65	1	-0.09	-38.85
Other Investing Activities	3.5	1.75	1.75	1.75	2.32	0.73
Investing Cash Flow	2.36	1.97	0.73	7.51	-4.86	-39.42
Short-Term Debt Issued	-	83.55	214.42	179.57	51.75	264.47
Total Debt Issued	36.28	83.55	214.42	179.57	51.75	264.47
Short-Term Debt Repaid	-	-84.08	-100.29	-146.67	-77.9	-192.18
Long-Term Debt Repaid	-	-1.76	-0.77	-0.92	-0.03	-
Total Debt Repaid	-44.88	-85.85	-101.07	-147.59	-77.94	-192.18
Net Debt Issued (Repaid)	-8.61	-2.3	113.35	31.97	-26.19	72.29
Common Dividends Paid	-	-13.91	-15.06	-2.99	-14.68	-15.58
Other Financing Activities	-13.29	-28.29	1.09	0.72	-	9
Financing Cash Flow	-21.9	-44.5	99.39	29.7	-40.87	65.71
Foreign Exchange Rate Adjustments	0.32	-0.19	0.24	0.08	-0.75	0.2
Net Cash Flow	159.51	-110.36	6.41	-88.16	-105.61	-102.43
Free Cash Flow	177.65	-67.79	-94.74	-125.77	-62.4	-130.29
Free Cash Flow Margin	29.68%	-11.99%	-21.50%	-28.99%	-12.95%	-33.76%
Free Cash Flow Per Share	0.64	-0.27	-0.40	-0.50	-0.25	-0.53
Cash Income Tax Paid	14.8	12.9	18	10.85	20.21	12
Levered Free Cash Flow	224.11	-20.13	-38.57	-106.97	-131.05	-104.83
Unlevered Free Cash Flow	224.74	-19.02	-37.19	-104.99	-129.5	-102.98
Change in Working Capital	-83.99	-83.99	-115.09	-154.53	-96.02	-176.84

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