Shenzhen Grandland Group 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	-117.5	-133.4	-200.63	2,127	-5,308	-5,588
Depreciation & Amortization	57.54	57.54	62.6	91.98	110.31	94.83
Other Amortization	0.03	0.03	9.69	73.77	17.03	16.71
Loss (Gain) From Sale of Assets	-0	-0	-0.09	-7.37	4.79	0.13
Asset Writedown & Restructuring Costs	23.51	23.51	2.34	0.59	66.37	92.26
Loss (Gain) From Sale of Investments	0	0	4.75	-459.45	77.58	128.95
Provision & Write-off of Bad Debts	-	-	8.91	103.6	3,908	5,244
Other Operating Activities	1.92	36.17	31.57	370.73	-705.69	140.24
Change in Accounts Receivable	-332.13	-332.13	-340.33	2,254	1,904	1,425
Change in Inventory	-18.21	-18.21	11.52	314.64	230.98	63.8
Change in Accounts Payable	460.66	460.66	335.72	-5,866	-1,347	-2,287
Change in Other Net Operating Assets	-10.43	-10.43	-27.29	176.43	243.56	69.33
Operating Cash Flow	63.93	82.27	-105.12	-99	-900.34	-904.8
Capital Expenditures	-6.13	-18	-52.58	-0.56	-0.93	-87.56
Sale of Property, Plant & Equipment	0.02	0.02	0	3.48	0.03	7.68
Divestitures	-	-	-	-8.2	-	1.58
Investment in Securities	-	-	-	7.22	0.58	374.89
Other Investing Activities	-	-	-	-	-	0.02
Investing Cash Flow	-6.1	-17.98	-52.57	1.95	-0.33	296.62
Long-Term Debt Issued	-	-	-	-	1,506	3,518
Total Debt Issued	-	-	-	-	1,506	3,518
Long-Term Debt Repaid	-	-4	-14.69	-33.04	-663.24	-3,952
Total Debt Repaid	-4	-4	-14.69	-33.04	-663.24	-3,952
Net Debt Issued (Repaid)	-4	-4	-14.69	-33.04	842.59	-433.83
Issuance of Common Stock	-	-	539.63	169.86	-	-
Common Dividends Paid	-22.48	-23	-35.48	-8.32	-52.48	-188.13
Other Financing Activities	-	-	-	-	-	-0.52
Financing Cash Flow	-26.48	-27	489.45	128.51	790.12	-622.47
Foreign Exchange Rate Adjustments	-	-	0	-4.6	3.82	2.94
Net Cash Flow	31.34	37.29	331.76	26.86	-106.74	-1,228
Free Cash Flow	57.8	64.27	-157.7	-99.56	-901.28	-992.35
Free Cash Flow Margin	3.21%	4.02%	-20.81%	-9.93%	-25.29%	-12.35%
Free Cash Flow Per Share	0.02	0.02	-0.04	-0.03	-0.24	-0.65
Cash Income Tax Paid	38.74	29.38	34.93	42.28	84.17	330.79
Levered Free Cash Flow	106.2	-	457.91	-337.84	-938.87	1,435
Unlevered Free Cash Flow	106.2	-	477.07	2.05	-664.35	1,614
Change in Working Capital	98.43	98.43	-24.25	-2,400	928.67	-1,034

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