Tatwah Smartech 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	-211.94	24.17	-356.32	-326.89	-514.31
Depreciation & Amortization	71.32	99.73	117.77	69.97	69.36
Other Amortization	2.81	9.49	7.51	4.66	11.41
Loss (Gain) From Sale of Assets	-1.91	-1.59	0.28	-0.53	-0.06
Asset Writedown & Restructuring Costs	56.46	0.81	219.88	1.82	118.29
Loss (Gain) From Sale of Investments	65.75	-74.73	64.46	92.4	82.4
Provision & Write-off of Bad Debts	-	11.88	-15.48	54.32	93.95
Other Operating Activities	72.68	-9.78	8.14	68.78	96.11
Change in Accounts Receivable	-36.5	458.84	-34.2	297.32	390.05
Change in Inventory	-61.25	134.86	239.72	-260.5	105.76
Change in Accounts Payable	17.81	-683.23	-421	137.43	-75
Operating Cash Flow	-18.35	-8.59	-203.46	121.53	366.42
Operating Cash Flow Growth	-	-	-	-66.83%	-
Capital Expenditures	-14.08	-227.19	-501.08	-680.49	-622.09
Sale of Property, Plant & Equipment	2.07	23.13	0.11	1.99	1.36
Cash Acquisitions	-	-	-0.05	-128.38	-
Divestitures	12.82	142.77	172.57	96.7	36.19
Investment in Securities	3.75	-2.83	-21.8	7.62	54.08
Other Investing Activities	110	-26.8	407.7	0.6	132
Investing Cash Flow	114.56	-90.91	57.46	-701.95	-398.45
Long-Term Debt Issued	86.2	906.41	428.93	801.44	730.64
Long-Term Debt Repaid	-75.04	-725.54	-168.36	-747.88	-1,098
Net Debt Issued (Repaid)	11.16	180.87	260.57	53.56	-366.91
Issuance of Common Stock	-	-	-	408.4	545.77
Repurchase of Common Stock	-	-5.18	-82.77	-4.43	-
Common Dividends Paid	-18.54	-47.08	-47.41	-15.65	-67.12
Other Financing Activities	-102.99	-204.24	-4.53	-71.11	-
Financing Cash Flow	-110.38	-75.63	125.86	370.77	111.74
Foreign Exchange Rate Adjustments	-0.71	-2.47	-1.94	0.47	-0.48
Net Cash Flow	-14.88	-177.6	-22.08	-209.18	79.22
Free Cash Flow	-32.43	-235.78	-704.54	-558.95	-255.67
Free Cash Flow Margin	-1.75%	-12.20%	-35.83%	-32.08%	-11.41%
Free Cash Flow Per Share	-0.03	-0.22	-0.64	-0.51	-0.23
Cash Income Tax Paid	14.98	14.09	20.88	5.59	20.56
Levered Free Cash Flow	-78.56	203.72	-1,100	-466.62	326.74
Unlevered Free Cash Flow	-78.56	236.92	-1,069	-416.91	382.1
Change in Working Capital	-73.51	-68.56	-249.71	157.01	409.26

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