Vanjee 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	Dec '21 Dec 31, 2021
Net Income	-181.07	-386.11	-385.53	-28.99	42.59
Depreciation & Amortization	59	62.61	55.17	43.7	41.43
Other Amortization	2.58	0.7	1.18	1.97	1.49
Loss (Gain) From Sale of Assets	-0.01	-0.45	-0.07	0.03	-0.19
Asset Writedown & Restructuring Costs	13.79	4.76	36.95	0.04	0.27
Loss (Gain) From Sale of Investments	-21.13	-9.1	-22.27	-14.55	-17.19
Provision & Write-off of Bad Debts	-26.55	16.72	60.39	37.32	7.95
Other Operating Activities	33.46	51.13	42	0.09	5.86
Change in Accounts Receivable	152.37	82.91	-91.56	-125.37	188.77
Change in Inventory	40.16	-17.32	-16.02	-84.18	73.29
Change in Accounts Payable	-42.27	-2.49	72.32	111.84	-96.28
Change in Other Net Operating Assets	-	-7.28	2.14	5.13	6.92
Operating Cash Flow	33.38	-209.12	-261.9	-74.1	229.78
Operating Cash Flow Growth	-	-	-	-	-42.59%
Capital Expenditures	-16.66	-17.33	-23.24	-140.97	-60.28
Sale of Property, Plant & Equipment	0.01	0.07	0	0.01	0.71
Cash Acquisitions	8.47	-	-	-	1.64
Divestitures	0.08	-	-	-	-
Investment in Securities	-0.03	330	-350	-87.36	-3.75
Other Investing Activities	12.6	20.1	17.5	22.88	12.56
Investing Cash Flow	4.48	332.84	-355.74	-205.45	-49.12
Short-Term Debt Issued	208	185.45	45	-	-
Total Debt Issued	208	185.45	45	-	-
Short-Term Debt Repaid	-248.01	-118	-	-	-
Long-Term Debt Repaid	-29.94	-30.3	-27.71	-32.56	-18.29
Total Debt Repaid	-277.96	-148.3	-27.71	-32.56	-18.29
Net Debt Issued (Repaid)	-69.96	37.15	17.29	-32.56	-18.29
Issuance of Common Stock	-	-	-	-	396.09
Repurchase of Common Stock	-	-	-	-	-0.22
Common Dividends Paid	-6.38	-5.07	-0.45	-8.53	-120.69
Other Financing Activities	33	0.01	0.02	4.9	6.12
Financing Cash Flow	-43.34	32.09	16.86	-36.18	263
Foreign Exchange Rate Adjustments	-0.54	0.17	0.06	0.03	-0
Net Cash Flow	-6.02	155.98	-600.72	-315.71	443.66
Free Cash Flow	16.72	-226.45	-285.14	-215.07	169.5
Free Cash Flow Growth	-	-	-	-	-47.33%
Free Cash Flow Margin	1.53%	-24.34%	-31.37%	-24.63%	17.94%
Free Cash Flow Per Share	0.08	-1.06	-1.34	-1.01	0.86
Cash Income Tax Paid	29.89	29.59	26.87	25.76	51.37
Levered Free Cash Flow	88.28	-62.88	-92.08	-176.73	180.77
Unlevered Free Cash Flow	92.44	-58.22	-91.3	-176.24	181.65
Change in Working Capital	153.31	50.61	-49.72	-113.71	147.56

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