QuakeSafe Technologies 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	-117.38	-141.04	-41.13	100.24	87.46
Depreciation & Amortization	57.27	121.89	53.02	33.01	19.65
Other Amortization	2.93	5.19	0.16	0.12	0.14
Loss (Gain) From Sale of Assets	-0.03	0.19	-0.5	2.03	-0.09
Asset Writedown & Restructuring Costs	33.11	16.23	0.17	59.01	21.31
Loss (Gain) From Sale of Investments	-2.18	25.55	-2.5	-1.2	-3.67
Provision & Write-off of Bad Debts	70.75	0.71	54.09	-	-
Other Operating Activities	17.84	2.59	32.7	23.86	6.68
Change in Accounts Receivable	136.6	-34.88	-77	-267.9	-243.87
Change in Inventory	53.17	-2.81	-17.24	60.26	-137.67
Change in Accounts Payable	-44.84	70.46	95.12	-56.92	53.22
Change in Other Net Operating Assets	-	44.3	1.01	10.49	21.19
Operating Cash Flow	198.86	96.12	77.88	-38.01	-182.85
Operating Cash Flow Growth	106.88%	23.43%	-	-	-
Capital Expenditures	-20.32	-46.27	-81.44	-149.47	-212.38
Sale of Property, Plant & Equipment	0.03	5.6	0.1	1.67	0.37
Investment in Securities	-	-	-	-30.85	-
Other Investing Activities	1.71	1.96	2.21	1.49	7.45
Investing Cash Flow	-18.59	-38.71	-79.13	-177.17	-204.56
Long-Term Debt Issued	92	202.5	353.23	364.17	427.12
Total Debt Issued	92	202.5	353.23	364.17	427.12
Long-Term Debt Repaid	-236.14	-291.81	-288.49	-197.11	-128.55
Total Debt Repaid	-236.14	-291.81	-288.49	-197.11	-128.55
Net Debt Issued (Repaid)	-144.14	-89.31	64.74	167.06	298.57
Issuance of Common Stock	4.78	-	-	246.23	-
Common Dividends Paid	-6.97	-14.14	-34.47	-28.79	-37.81
Other Financing Activities	1.63	7.73	12.42	8.57	1.57
Financing Cash Flow	-144.7	-95.71	42.68	393.06	262.33
Foreign Exchange Rate Adjustments	-0.16	-	-	-	-
Net Cash Flow	35.42	-38.3	41.43	177.88	-125.08
Free Cash Flow	178.54	49.86	-3.57	-187.48	-395.23
Free Cash Flow Growth	258.12%	-	-	-	-
Free Cash Flow Margin	33.62%	11.95%	-0.51%	-20.89%	-58.96%
Free Cash Flow Per Share	0.65	0.20	-0.01	-0.77	-1.63
Cash Income Tax Paid	40.31	30.96	68.77	66.78	69.19
Levered Free Cash Flow	222.41	180.26	-67.51	-274.57	-414.05
Unlevered Free Cash Flow	227.18	196.38	-48.28	-260.22	-408.43
Change in Working Capital	136.55	64.82	-18.13	-255.06	-314.33

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