Anhui Huangshan Capsule 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	Jan '24 Jan 1, 2024	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	65.11	49.25	64.86	60.85	56.89
Depreciation & Amortization	47.25	45.54	45.66	43.07	33.49
Other Amortization	0.78	1	0.22	0.18	0.34
Loss (Gain) From Sale of Assets	-0	-0.12	0.09	0.7	0.29
Asset Writedown & Restructuring Costs	2.09	-	-	-	0.01
Loss (Gain) From Sale of Investments	-0.09	-0.04	-0.27	-4.86	-3.11
Provision & Write-off of Bad Debts	-	1.45	0.11	0.58	0.57
Other Operating Activities	-9.86	-8.77	1.69	1.67	-1.24
Change in Accounts Receivable	-15.64	-21.61	-8.08	-38.2	-14.99
Change in Inventory	22.96	21.82	-23.26	-13.2	-40.64
Change in Accounts Payable	-27.12	-27.37	14.54	32.76	56.23
Operating Cash Flow	84.89	63.51	99.86	83.02	86.09
Operating Cash Flow Growth	33.67%	-36.40%	20.29%	-3.57%	37.28%
Capital Expenditures	-3.87	-13.57	-6.58	-34.13	-75.84
Sale of Property, Plant & Equipment	0.01	1.11	0.11	0.04	1.09
Divestitures	-	-	-	-	5.87
Investment in Securities	-	-123.77	-201.67	16.35	33
Other Investing Activities	-64.95	1.14	0.08	4.08	4.49
Investing Cash Flow	-68.81	-135.1	-208.07	-13.67	-31.39
Long-Term Debt Issued	-	-	11.5	-	63.89
Total Debt Issued	-	-	11.5	-	63.89
Long-Term Debt Repaid	-	-12.13	-0.57	-75.26	-5.67
Total Debt Repaid	-	-12.13	-0.57	-75.26	-5.67
Net Debt Issued (Repaid)	-	-12.13	10.93	-75.26	58.22
Common Dividends Paid	-29.31	-25.68	-18.04	-19.88	-10.86
Other Financing Activities	-0.66	0.35	-	-	0.4
Financing Cash Flow	-29.97	-37.47	-7.11	-95.14	47.76
Foreign Exchange Rate Adjustments	-0.32	0.3	-0.32	0.5	-0.06
Net Cash Flow	-14.21	-108.75	-115.63	-25.29	102.4
Free Cash Flow	81.03	49.94	93.27	48.88	10.25
Free Cash Flow Growth	62.25%	-46.46%	90.80%	376.92%	-
Free Cash Flow Margin	17.60%	10.55%	20.16%	11.41%	2.70%
Free Cash Flow Per Share	0.27	0.16	0.32	0.16	0.03
Cash Income Tax Paid	38.29	33.9	29.88	23.91	16.32
Levered Free Cash Flow	70.37	68.08	70.95	26.31	1.63
Unlevered Free Cash Flow	70.37	68.09	70.97	27.59	1.74
Change in Working Capital	-20.38	-24.81	-12.5	-19.18	-1.15

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