Zhongjing Food 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	191.8	175.4	172.29	126.02	118.59
Depreciation & Amortization	49.69	41.73	37.72	33.69	28.12
Other Amortization	1.18	0.33	0.31	0.29	0.29
Loss (Gain) From Sale of Assets	-	-3.59	-	0.04	0.69
Asset Writedown & Restructuring Costs	-0.35	-0.38	-	3.28	1.07
Loss (Gain) From Sale of Investments	-1.11	-2.38	-5.83	-20.17	-22.83
Provision & Write-off of Bad Debts	-0.02	0.86	-0.1	-	-
Other Operating Activities	2.6	1.32	2.47	1.13	0.22
Change in Accounts Receivable	-6.9	-12.3	3.53	-39.29	2.54
Change in Inventory	-61.76	6.15	49.16	-34.43	-63.58
Change in Accounts Payable	55.62	21.36	-34.15	48.17	52.39
Operating Cash Flow	228.81	228.1	226.03	121.08	119.69
Operating Cash Flow Growth	0.31%	0.92%	86.67%	1.16%	11.33%
Capital Expenditures	-101.03	-200.71	-257.27	-61.58	-235.88
Sale of Property, Plant & Equipment	-	2.8	-	0.12	0.19
Investment in Securities	-370.04	-210	-51	791.44	44
Other Investing Activities	1.44	2.06	5.83	22.4	22.83
Investing Cash Flow	-469.63	-405.84	-302.44	752.38	-168.85
Short-Term Debt Issued	-	10	10	90	50
Total Debt Issued	-	10	10	90	50
Short-Term Debt Repaid	-10	-10	-10	-80	-50
Long-Term Debt Repaid	-0.19	-0.19	-0.05	-	-
Total Debt Repaid	-10.19	-10.19	-10.05	-80	-50
Net Debt Issued (Repaid)	-10.19	-0.19	-0.05	10	-
Common Dividends Paid	-117	-129.46	-100.23	-51.96	-50
Other Financing Activities	-	1.02	0.7	-1.51	-3.73
Financing Cash Flow	-127.18	-128.63	-99.57	-43.46	-53.73
Net Cash Flow	-368	-306.37	-175.98	830	-102.89
Free Cash Flow	127.79	27.39	-31.24	59.5	-116.18
Free Cash Flow Growth	366.49%	-	-	-	-
Free Cash Flow Margin	11.81%	2.50%	-3.14%	6.75%	-14.41%
Free Cash Flow Per Share	0.87	0.19	-0.21	0.41	-0.80
Cash Interest Paid	-	-	-	-	0.33
Cash Income Tax Paid	96.66	91.18	73.15	52.53	44.1
Levered Free Cash Flow	-25.43	-13.53	-66.63	13.48	-156.22
Unlevered Free Cash Flow	-25.43	-13.07	-66.34	14.27	-156.01
Change in Working Capital	-14.98	14.8	19.17	-23.19	-6.44

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