Shenzhen Infinova 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	-291.37	-403.57	-770.63	-1,004	-1,435
Depreciation & Amortization	37.74	48.23	45.26	60.38	90.9
Other Amortization	2.01	7.43	3.88	2.92	2.75
Loss (Gain) From Sale of Assets	-3.17	-7.45	-1.28	-0.05	0.3
Asset Writedown & Restructuring Costs	23.8	219.51	406.39	12.22	739.52
Loss (Gain) From Sale of Investments	-12.25	1.52	-80.87	-15.16	-127.43
Provision & Write-off of Bad Debts	-	-	-	468.74	372.88
Other Operating Activities	82.14	32.52	43.41	214.71	143.98
Change in Accounts Receivable	176.49	436.63	392.62	330.47	-434.15
Change in Inventory	16.29	64.96	102.27	107.33	110.95
Change in Accounts Payable	-82.1	-371.48	195.24	-292.53	599.78
Operating Cash Flow	-48.23	30.87	343.01	-84.97	118.53
Operating Cash Flow Growth	-	-91.00%	-	-	-
Capital Expenditures	-12.63	-22.97	-98.6	-90.2	-49.29
Sale of Property, Plant & Equipment	7.88	26.63	3.72	1.04	6.85
Cash Acquisitions	-	-	-0.39	-	-0.1
Divestitures	12.45	-24.5	31.89	26.39	632.57
Investment in Securities	-	0.19	324.74	-357.09	39.51
Other Investing Activities	-	0.44	5.24	15.72	-19.63
Investing Cash Flow	7.7	-20.2	266.59	-404.14	609.91
Long-Term Debt Issued	292.79	292.39	866.16	1,132	1,098
Long-Term Debt Repaid	-317.86	-399.59	-1,506	-1,240	-1,449
Net Debt Issued (Repaid)	-25.08	-107.2	-639.95	-107.85	-350.56
Issuance of Common Stock	-	-	-	-	35.53
Common Dividends Paid	-25.41	-31.18	-55.73	-73.03	-73.43
Other Financing Activities	11	-	-	0.5	153.89
Financing Cash Flow	-39.48	-138.38	-695.68	-180.39	-234.57
Foreign Exchange Rate Adjustments	-2.18	-5.31	11.89	2.78	-20.86
Net Cash Flow	-82.18	-133.02	-74.18	-666.71	473.02
Free Cash Flow	-60.86	7.91	244.41	-175.17	69.24
Free Cash Flow Growth	-	-96.77%	-	-	-
Free Cash Flow Margin	-12.30%	0.84%	17.50%	-9.37%	2.36%
Free Cash Flow Per Share	-0.05	0.01	0.20	-0.15	0.06
Cash Income Tax Paid	34.85	11.48	13.69	18.99	46.5
Levered Free Cash Flow	-	54.92	278.2	-231.6	286.44
Unlevered Free Cash Flow	-	83	313.21	-182.25	338.62
Change in Working Capital	112.87	132.69	696.84	175.09	331.12

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