Beijing SDL 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	151.79	168.53	202.81	283.71	221.84
Depreciation & Amortization	38.68	37.37	38.33	35.35	27.9
Other Amortization	1.4	2.53	2.73	2.94	4.09
Loss (Gain) From Sale of Assets	0.52	-0.17	-0.1	0.68	-0.47
Asset Writedown & Restructuring Costs	30.37	32.28	33.88	1.16	0.24
Loss (Gain) From Sale of Investments	4.08	-15.36	-44.52	-37.76	-32.9
Provision & Write-off of Bad Debts	-	-	-	39.8	15.37
Other Operating Activities	11.54	1.75	19.1	21.85	23.13
Change in Accounts Receivable	51.39	-7.17	-1.81	-86.55	-56.47
Change in Inventory	13.8	45.03	94.02	27.78	-22.58
Change in Accounts Payable	-1.1	-13.32	-22.52	-77.84	54.71
Operating Cash Flow	300.02	250.71	318.36	205.45	234.51
Operating Cash Flow Growth	19.67%	-21.25%	54.96%	-12.39%	-2.79%
Capital Expenditures	-78.19	-29.77	-29.15	-35.91	-76.45
Sale of Property, Plant & Equipment	0.46	0.74	0.34	0.02	4.37
Investment in Securities	-188.34	-165.88	-210.71	526.88	-117.55
Other Investing Activities	11.11	11.8	30.61	38.63	37.15
Investing Cash Flow	-254.96	-183.12	-208.9	529.63	-152.49
Long-Term Debt Issued	36.05	18.65	4.29	3.51	1.87
Long-Term Debt Repaid	-36.29	-24.36	-257.79	-5.93	-4.8
Net Debt Issued (Repaid)	-0.24	-5.71	-253.5	-2.42	-2.92
Issuance of Common Stock	-	-	-	-	67.03
Repurchase of Common Stock	-	-60.53	-	-	-
Common Dividends Paid	-156.26	-187.5	-261.01	-194.84	-171.37
Other Financing Activities	48.83	-3.07	-0.1	-2.92	-
Financing Cash Flow	-107.67	-256.81	-514.61	-200.18	-107.26
Foreign Exchange Rate Adjustments	-0.02	-0.19	1.11	1.41	-1.89
Net Cash Flow	-62.64	-189.41	-404.04	536.31	-27.14
Free Cash Flow	221.83	220.93	289.21	169.54	158.06
Free Cash Flow Growth	0.41%	-23.61%	70.58%	7.27%	-22.95%
Free Cash Flow Margin	15.87%	15.56%	19.15%	11.27%	11.45%
Free Cash Flow Per Share	0.35	0.35	0.46	0.27	0.26
Cash Income Tax Paid	96.09	84.81	94.42	96.15	104.42
Levered Free Cash Flow	164.82	152.43	218.11	72.79	104.21
Unlevered Free Cash Flow	164.82	152.82	230.11	85.41	117.97
Change in Working Capital	61.64	23.77	66.13	-142.27	-24.68

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.