JiangSu JiuWu Hi-Tech 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	73.69	53.02	45.35	43.27	70.12
Depreciation & Amortization	40.64	38.07	34.12	26.28	24.48
Other Amortization	0.97	1.64	0.43	0.59	0.57
Loss (Gain) From Sale of Assets	-3.88	-0.12	0.27	0	0.09
Asset Writedown & Restructuring Costs	3.44	0.97	-	-	0.03
Loss (Gain) From Sale of Investments	-17.44	-25.27	-11.5	-5	-4.67
Provision & Write-off of Bad Debts	-	15.07	52.1	3.06	14
Other Operating Activities	49.26	15.16	6.4	3.72	21.48
Change in Accounts Receivable	28.19	27.48	-47.76	-195.46	-202.9
Change in Inventory	-5.71	-57.77	55.17	-83.42	-13.66
Change in Accounts Payable	33.81	5.19	-78.31	161	115.86
Change in Other Net Operating Assets	18	30.31	0.38	-3.49	4.33
Operating Cash Flow	216	93.99	52.68	-49.46	26.45
Operating Cash Flow Growth	129.81%	78.41%	-	-	275.50%
Capital Expenditures	-17.87	-16.55	-42.89	-72.84	-22.81
Sale of Property, Plant & Equipment	0.05	5.02	0.3	0.22	0.08
Divestitures	-	-	-	28.26	1.45
Investment in Securities	-47.18	35.25	-9.82	89.68	-38.75
Other Investing Activities	14.86	13.12	1.28	3.27	3.83
Investing Cash Flow	-50.15	36.84	-51.13	48.58	-56.2
Long-Term Debt Issued	62	170.42	90	110	79
Total Debt Issued	62	170.42	90	110	79
Long-Term Debt Repaid	-71.72	-201	-22	-112	-81.89
Total Debt Repaid	-71.72	-201	-22	-112	-81.89
Net Debt Issued (Repaid)	-9.72	-30.58	68	-2	-2.89
Issuance of Common Stock	0.23	50.16	-	103	-
Repurchase of Common Stock	-	-28.48	-17.05	-	-
Common Dividends Paid	-24.09	-23.96	-10.2	-19.29	-21.41
Other Financing Activities	-	-	-	-3.07	0.2
Financing Cash Flow	-33.57	-32.87	40.75	78.64	-24.11
Foreign Exchange Rate Adjustments	-0.53	1.2	0.23	0.68	-0.06
Net Cash Flow	131.75	99.16	42.53	78.45	-53.92
Free Cash Flow	198.12	77.44	9.79	-122.3	3.64
Free Cash Flow Growth	155.86%	691.18%	-	-	-
Free Cash Flow Margin	31.28%	14.52%	1.29%	-16.50%	0.67%
Free Cash Flow Per Share	1.61	0.63	0.08	-1.00	0.03
Cash Income Tax Paid	54.22	29.97	23.48	28.11	41.81
Levered Free Cash Flow	125.25	95.9	87.49	-84.23	27.11
Unlevered Free Cash Flow	125.25	97.26	88.88	-83.51	31.46
Change in Working Capital	69.31	-4.55	-74.48	-121.39	-99.66

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