Ruijie Networks 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	696.35	574.08	401.2	551.55	457.75
Depreciation & Amortization	173.15	167.92	188.05	155.85	110.19
Other Amortization	104.83	36.97	27.6	17.22	12.44
Loss (Gain) From Sale of Assets	-1.18	-7.6	-2.32	-1.41	-0.32
Asset Writedown & Restructuring Costs	2.52	3	2.4	1.56	26.63
Loss (Gain) From Sale of Investments	-2.12	1	1.75	-1.36	3.78
Provision & Write-off of Bad Debts	-0.5	11.22	3.5	-2.14	-
Other Operating Activities	115.62	82.82	52.68	93.03	34.08
Change in Accounts Receivable	-219.39	-775.69	-629.71	12.73	178.11
Change in Inventory	341.36	-549.46	172.09	-629.14	-1,002
Change in Accounts Payable	418.98	847.06	880.84	-482.21	1,026
Change in Other Net Operating Assets	83.08	3.44	18.32	169.68	35.34
Operating Cash Flow	1,828	218.85	868.56	-245.7	748.99
Operating Cash Flow Growth	735.17%	-74.80%	-	-	179.08%
Capital Expenditures	-248.91	-485.29	-310.22	-217.63	-146.18
Sale of Property, Plant & Equipment	0.58	1.34	1.46	1.9	1.52
Investment in Securities	-254.43	-585.64	-95.03	0	-
Other Investing Activities	-	-	-	1.36	-
Investing Cash Flow	-502.76	-1,070	-403.79	-214.36	-144.65
Short-Term Debt Issued	700	1,318	273.43	2,223	1,177
Total Debt Issued	700	1,318	273.43	2,223	1,177
Short-Term Debt Repaid	-700	-1,250	-830	-2,030	-1,094
Long-Term Debt Repaid	-67.43	-71.48	-90.14	-74.6	-65.08
Total Debt Repaid	-767.43	-1,321	-920.14	-2,104	-1,159
Net Debt Issued (Repaid)	-67.43	-3.23	-646.71	118.8	17.57
Issuance of Common Stock	-	-	-	2,118	-
Common Dividends Paid	-364.6	-345.85	-472.73	-37.81	-26.56
Other Financing Activities	-	-	-3.64	-13.94	-
Financing Cash Flow	-432.03	-349.09	-1,123	2,185	-8.99
Foreign Exchange Rate Adjustments	-9.87	5.05	-2.48	19.05	-8.05
Net Cash Flow	883.14	-1,195	-660.78	1,744	587.29
Free Cash Flow	1,579	-266.43	558.34	-463.32	602.81
Free Cash Flow Growth	-	-	-	-	2805.28%
Free Cash Flow Margin	11.03%	-2.28%	4.84%	-4.09%	6.56%
Free Cash Flow Per Share	1.99	-0.34	0.71	-0.66	0.86
Cash Income Tax Paid	87.46	76.47	104.65	83.97	113.24
Levered Free Cash Flow	1,192	-1,004	-193.38	-817.51	440.14
Unlevered Free Cash Flow	1,212	-980.49	-176.95	-788.2	463.73
Change in Working Capital	739.13	-650.56	193.71	-1,060	104.45

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