Tianqi Lithium 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	462.63	-7,905	7,297	24,125	2,079
Depreciation & Amortization	1,426	1,135	845.37	653.72	460.34
Other Amortization	12.23	3.04	2.32	1.37	3.45
Loss (Gain) From Sale of Assets	-1.72	-	-8.03	-	0.25
Asset Writedown & Restructuring Costs	24.44	1,523	3.01	1.22	19.65
Loss (Gain) From Sale of Investments	-565.02	834.62	-3,110	-7,843	-1,394
Provision & Write-off of Bad Debts	16.68	55.49	-81.23	95.17	7.91
Other Operating Activities	2,771	9,714	19,459	8,607	2,083
Change in Accounts Receivable	211.45	2,226	4,798	-8,294	-2,582
Change in Inventory	-929.44	108.16	-1,739	-1,274	-20.07
Change in Accounts Payable	-743.39	-2,460	-2,698	4,900	837
Change in Other Net Operating Assets	33	32.03	27.63	-	-
Operating Cash Flow	2,961	5,554	22,688	20,298	2,094
Operating Cash Flow Growth	-46.70%	-75.52%	11.78%	869.11%	200.74%
Capital Expenditures	-3,603	-4,524	-4,443	-1,716	-1,009
Sale of Property, Plant & Equipment	21.52	1.72	14.37	0.01	0.01
Investment in Securities	-942.13	-1,723	-	-823.2	869.57
Other Investing Activities	42.01	362.17	2,406	3,283	1.51
Investing Cash Flow	-4,482	-5,883	-2,023	744.01	-137.58
Long-Term Debt Issued	10,320	9,681	10,901	13,059	3,751
Long-Term Debt Repaid	-9,605	-6,869	-9,046	-25,663	-12,016
Net Debt Issued (Repaid)	714.73	2,812	1,854	-12,605	-8,265
Issuance of Common Stock	7.38	-	-	11,284	-
Repurchase of Common Stock	-	-	-	-199.99	-
Common Dividends Paid	-752.05	-2,934	-5,577	-1,221	-1,165
Other Financing Activities	-398.52	-3,118	-19,716	-7,829	8,298
Financing Cash Flow	-428.46	-3,241	-23,438	-10,571	-1,132
Foreign Exchange Rate Adjustments	60.79	-125.03	-186.84	52.89	-41.04
Net Cash Flow	-1,889	-3,695	-2,959	10,524	784.09
Free Cash Flow	-642.91	1,030	18,245	18,582	1,086
Free Cash Flow Growth	-	-94.36%	-1.81%	1611.35%	-
Free Cash Flow Margin	-6.21%	7.88%	45.05%	45.94%	14.17%
Free Cash Flow Per Share	-0.39	0.63	11.13	11.95	0.74
Cash Income Tax Paid	652.46	2,828	14,242	8,838	689.89
Levered Free Cash Flow	-562.83	-556.74	18,429	14,831	-1,140
Unlevered Free Cash Flow	-174.08	-181.4	18,773	15,508	-222.61
Change in Working Capital	-1,185	194.05	-1,720	-5,343	-1,164

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