SuZhou THVOW Technology. 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	31.84	46.97	24.04	1,198	-2,581	-693.32
Depreciation & Amortization	66.78	66.78	68.74	79.43	83.64	97.17
Other Amortization	1.02	1.02	-	1.5	1.47	2.75
Loss (Gain) From Sale of Assets	0.61	0.61	-0.56	-0.19	-0.27	-1.82
Asset Writedown & Restructuring Costs	-	-	-	1.99	0.13	195.21
Loss (Gain) From Sale of Investments	-0.08	-0.08	-	-5,817	0.39	-79.06
Provision & Write-off of Bad Debts	-11.03	-11.03	-47.91	1,608	-13.77	836.1
Other Operating Activities	-55.59	99.75	165.89	2,111	1,547	413.36
Change in Accounts Receivable	163.15	163.15	-106.75	1,063	-209.88	63.93
Change in Inventory	3.94	3.94	239.43	324.12	-222.42	13.33
Change in Accounts Payable	-175.46	-175.46	-131.37	-265.68	-210.26	-1,412
Operating Cash Flow	-1.93	168.54	229.3	290.96	-475.04	-615.48
Operating Cash Flow Growth	-	-26.50%	-21.19%	-	-	-
Capital Expenditures	-13.32	-12.1	-11.3	-34.54	-56.57	-241.13
Sale of Property, Plant & Equipment	0.43	0.43	1,401	1.11	3.31	8.32
Cash Acquisitions	-	-	-	-	-	-652.83
Divestitures	11.87	3.33	-	-125.55	-	153.79
Investment in Securities	-	-	-	-	0.67	-
Other Investing Activities	-	-	-	3.22	-	1.37
Investing Cash Flow	-1.02	-8.34	1,389	-155.77	-52.59	-730.48
Long-Term Debt Issued	-	1,324	2,748	15,360	11,962	8,728
Long-Term Debt Repaid	-	-1,502	-3,769	-15,189	-11,372	-7,572
Net Debt Issued (Repaid)	167.92	-177.88	-1,020	171.57	590.31	1,156
Common Dividends Paid	-88.53	-96.35	-167.27	-490.79	-675.81	-431.85
Other Financing Activities	11.78	12.3	3.45	5	10	-69.62
Financing Cash Flow	91.17	-261.94	-1,184	-314.22	-75.5	654.2
Foreign Exchange Rate Adjustments	-0.87	0.21	0.36	0.36	2	-1.11
Net Cash Flow	87.35	-101.52	434.77	-178.67	-601.12	-692.87
Free Cash Flow	-15.25	156.45	218	256.41	-531.6	-856.61
Free Cash Flow Growth	-	-28.23%	-14.98%	-	-	-
Free Cash Flow Margin	-0.60%	6.15%	8.85%	6.80%	-14.80%	-12.58%
Free Cash Flow Per Share	-0.02	0.17	0.27	0.30	-0.61	-0.99
Cash Income Tax Paid	109.27	149.92	142.96	101.72	164.32	157.1
Levered Free Cash Flow	-221.33	16.2	116.83	3,735	615.42	-1,159
Unlevered Free Cash Flow	-161.84	75.69	212.91	4,053	936.46	-855.09
Change in Working Capital	-35.48	-35.48	19.11	1,107	487.41	-1,386

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