Shenzhen Kedali Industry 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	1,764	1,472	1,201	899.72	541.61
Depreciation & Amortization	855.73	783.09	653.02	399.89	256.61
Other Amortization	91.05	92.14	57.99	26.88	13.4
Loss (Gain) From Sale of Assets	-0.65	1.63	-0.38	-0.25	-1.91
Asset Writedown & Restructuring Costs	79.25	48.78	11.98	2.48	90.29
Loss (Gain) From Sale of Investments	-16.67	-16.36	-3.96	-7.6	-16.97
Provision & Write-off of Bad Debts	76.83	83.25	-9.74	62.01	-
Other Operating Activities	164.38	173.43	178.77	156.37	25.61
Change in Accounts Receivable	-3,169	-2,071	-1,757	-2,328	-915.5
Change in Inventory	-164.74	51.01	250.58	-638.07	-357.43
Change in Accounts Payable	2,151	1,403	56.47	1,746	678.14
Change in Other Net Operating Assets	71.84	144.28	118.32	119.75	31.32
Operating Cash Flow	1,901	2,148	747.6	437.76	334.74
Operating Cash Flow Growth	-11.49%	187.35%	70.78%	30.78%	299.98%
Capital Expenditures	-755.19	-1,243	-2,411	-2,382	-1,190
Sale of Property, Plant & Equipment	14.41	6.74	4.83	0.24	7
Investment in Securities	-745	-43	-600	320	228.15
Other Investing Activities	19.23	17.42	4.19	8.65	17.39
Investing Cash Flow	-1,467	-1,262	-3,002	-2,053	-937.48
Long-Term Debt Issued	16.35	106.83	483.36	2,086	900
Total Debt Issued	16.35	106.83	483.36	2,086	900
Long-Term Debt Repaid	-147.6	-700.32	-1,932	-538.72	-691.24
Total Debt Repaid	-147.6	-700.32	-1,932	-538.72	-691.24
Net Debt Issued (Repaid)	-131.25	-593.49	-1,449	1,547	208.76
Issuance of Common Stock	371.04	102.43	3,613	1,612	-
Common Dividends Paid	-563.47	-424.51	-108.28	-96.52	-65.09
Other Financing Activities	21.29	33.89	-146.63	-5.68	-1.19
Financing Cash Flow	-302.39	-881.66	1,909	3,057	142.49
Foreign Exchange Rate Adjustments	-1.22	1.82	2.33	0.66	-2.05
Net Cash Flow	131.12	6.57	-343.57	1,443	-462.3
Free Cash Flow	1,146	905.26	-1,664	-1,944	-855.29
Free Cash Flow Growth	26.60%	-	-	-	-
Free Cash Flow Margin	7.53%	7.52%	-15.83%	-22.47%	-19.14%
Free Cash Flow Per Share	4.14	3.35	-6.64	-8.26	-3.68
Cash Income Tax Paid	935.06	655.61	517.39	183.36	217.82
Levered Free Cash Flow	1,179	95.21	-2,570	-1,248	-506.18
Unlevered Free Cash Flow	1,272	183.26	-2,511	-1,196	-494.09
Change in Working Capital	-1,113	-489.4	-1,341	-1,102	-573.9

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