Nanning Baling Technology 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	116.91	69.98	105.5	13.52	16.11
Depreciation & Amortization	35.58	36.51	43.93	46.08	61.43
Other Amortization	-	0.53	-	-	9.82
Loss (Gain) From Sale of Assets	1.11	-0.05	-0.54	-	-178.78
Asset Writedown & Restructuring Costs	7.43	9.1	18.95	-	92.78
Loss (Gain) From Sale of Investments	-57.88	-56.08	-109.13	-30.39	-34.64
Provision & Write-off of Bad Debts	-	-8.46	1.7	1.55	28.02
Other Operating Activities	0.18	6.31	7.47	0.62	58.46
Change in Accounts Receivable	-40.31	-19.8	-22.28	-2.06	-9.11
Change in Inventory	-20.37	-42.89	-16.54	48.92	8.32
Change in Accounts Payable	-13.23	44.92	-32.6	-68.51	-29.02
Change in Other Net Operating Assets	8.82	24.14	36.34	57.84	4.8
Operating Cash Flow	34.62	71.03	22.65	62.89	27.72
Operating Cash Flow Growth	-51.25%	213.55%	-63.98%	126.89%	-
Capital Expenditures	-37.37	-5.79	-8.29	-3.91	-5.91
Sale of Property, Plant & Equipment	0.32	0	-	5.9	180.44
Divestitures	1.5	-	8.5	0.49	-
Investment in Securities	-43.4	4.9	1.32	-189.72	15.44
Other Investing Activities	163.29	25.37	6.99	21.23	15.42
Investing Cash Flow	84.34	24.48	8.52	-166.01	205.38
Short-Term Debt Issued	-	23	71	104	169
Long-Term Debt Issued	49.04	-	-	-	-
Total Debt Issued	49.04	23	71	104	169
Short-Term Debt Repaid	-	-64	-119	-110.5	-298.5
Long-Term Debt Repaid	-40	-	-	-	-
Total Debt Repaid	-40	-64	-119	-110.5	-298.5
Net Debt Issued (Repaid)	9.04	-41	-48	-6.5	-129.5
Issuance of Common Stock	-	-	25.36	-	33.65
Repurchase of Common Stock	-	-	-17.57	-20.51	-9.98
Common Dividends Paid	-56.1	-1.03	-2.67	-3.59	-7.67
Other Financing Activities	-0.21	-0.3	-0.31	-0.3	-0.2
Financing Cash Flow	-47.28	-42.32	-43.19	-30.9	-113.69
Foreign Exchange Rate Adjustments	-0.11	0.03	-0.18	0.63	-0.37
Net Cash Flow	71.56	53.22	-12.21	-133.39	119.04
Free Cash Flow	-2.75	65.23	14.36	58.98	21.81
Free Cash Flow Growth	-	354.34%	-75.66%	170.43%	-
Free Cash Flow Margin	-0.39%	9.90%	2.65%	10.68%	3.60%
Free Cash Flow Per Share	-0.01	0.24	0.05	0.22	0.08
Cash Interest Paid	-	0.3	0.27	0.29	0.04
Cash Income Tax Paid	34.22	27.2	-1.7	28.59	22.17
Levered Free Cash Flow	39	22.05	-63.16	70.86	254.67
Unlevered Free Cash Flow	39	22.66	-60.62	74.9	260.64
Change in Working Capital	-68.72	13.19	-45.23	31.52	-25.48

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