Red phase INC. Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-353.07	-458.89	75.78	-611.84
Depreciation & Amortization	41.16	62.56	61.78	104.67
Other Amortization	1.12	0.76	0.49	0.41
Loss (Gain) From Sale of Assets	-0.15	0.16	-0.09	-2.98
Asset Writedown & Restructuring Costs	248.21	296.68	0.09	707.2
Loss (Gain) From Sale of Investments	-3.43	-73.08	4.33	-17.33
Provision & Write-off of Bad Debts	10.48	-16.95	30.15	-20
Other Operating Activities	88.24	126.67	105.81	117.75
Change in Accounts Receivable	36.92	604.53	-358.47	41.42
Change in Inventory	21.41	-92.79	-340.26	-177.97
Change in Accounts Payable	-150.08	-174.93	92.83	59.39
Operating Cash Flow	-65.16	276.77	-339.31	192.61
Operating Cash Flow Growth	-	-	-	-42.20%
Capital Expenditures	-6.97	-66.32	-105.33	-93.56
Sale of Property, Plant & Equipment	0.22	0.39	1.92	4.65
Divestitures	164.16	116.38	-	347.87
Investment in Securities	-6	-	12.7	-
Other Investing Activities	181.94	-	-	4.94
Investing Cash Flow	333.36	50.46	-55.81	263.91
Long-Term Debt Issued	69.99	754.36	856.37	633.02
Long-Term Debt Repaid	-608.43	-830.86	-678.34	-810.32
Net Debt Issued (Repaid)	-538.44	-76.5	178.03	-177.3
Issuance of Common Stock	-	-	10.99	-
Repurchase of Common Stock	-10.99	-	-	-
Common Dividends Paid	-20.22	-49.22	-51.59	-118.6
Other Financing Activities	2.81	-	-	-
Financing Cash Flow	-566.85	-125.72	137.44	-295.89
Foreign Exchange Rate Adjustments	-0.09	-2.04	-0.9	-0.48
Net Cash Flow	-298.74	199.46	-258.59	160.14
Free Cash Flow	-72.13	210.45	-444.64	99.06
Free Cash Flow Growth	-	-	-	-40.48%
Free Cash Flow Margin	-11.36%	18.24%	-27.47%	7.19%
Free Cash Flow Per Share	-0.19	0.58	-1.22	0.28
Cash Income Tax Paid	53.61	81.66	105.52	39.34
Levered Free Cash Flow	255.54	325.33	-380.63	191.66
Unlevered Free Cash Flow	279.88	375.83	-335.2	256.27
Change in Working Capital	-97.72	338.84	-617.65	-85.28

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