Suzhou Highfine Biotech Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	136.96	134.05	98.97	129.37	111.4	40.4
Depreciation & Amortization	19.99	19.99	14.19	11.66	6.86	2.01
Other Amortization	0.08	0.08	0.18	0.12	0.06	0.04
Loss (Gain) From Sale of Assets	0.03	0.03	0	0.12	0.03	-0
Asset Writedown & Restructuring Costs	0.36	0.36	0.08	0.28	1.79	0.03
Loss (Gain) From Sale of Investments	-16.59	-16.59	-1.73	-0.4	-1.18	-0.91
Other Operating Activities	-60.17	1.61	4.97	-3.44	2.42	5.77
Change in Accounts Receivable	-25.75	-25.75	-18.72	5.08	-45.34	-12.27
Change in Inventory	-4.37	-4.37	-6.08	-35.35	-26.57	-9.59
Change in Accounts Payable	13.14	13.14	-6.54	32.09	27.37	17.05
Change in Other Net Operating Assets	4.54	4.54	2.23	0.59	0.33	47.02
Operating Cash Flow	67.5	126.37	87.83	138.67	75.97	89.17
Operating Cash Flow Growth	-55.61%	43.88%	-36.66%	82.53%	-14.80%	194.02%
Capital Expenditures	-158.82	-107.75	-120.47	-81.4	-53.56	-67.43
Sale of Property, Plant & Equipment	1.85	0.08	0.86	0.05	0	0.01
Investment in Securities	543.59	-1,310	29.47	-15	-35	-10
Other Investing Activities	34.31	478.15	-475.21	2.13	46.7	4.2
Investing Cash Flow	365.33	-939.35	-565.36	-94.23	-41.85	-73.23
Short-Term Debt Issued	-	-	-	-	-	1
Total Debt Issued	75	-	-	-	-	1
Short-Term Debt Repaid	-	-	-	-	-1	-
Long-Term Debt Repaid	-	-2.31	-1.41	-1.5	-0.85	-
Total Debt Repaid	-198.3	-2.31	-1.41	-1.5	-1.85	-
Net Debt Issued (Repaid)	-123.3	-2.31	-1.41	-1.5	-1.85	1
Issuance of Common Stock	-	-	1,683	-	-	-
Repurchase of Common Stock	-48.9	-42	-	-	-	-
Common Dividends Paid	-42.25	-40.19	-27	-20.25	-0.01	-0.03
Other Financing Activities	40.77	-	-21.17	-	-	-
Financing Cash Flow	-173.68	-84.5	1,634	-21.75	-1.86	0.97
Foreign Exchange Rate Adjustments	2.71	3.33	-0.01	1.98	-2.33	-5.82
Net Cash Flow	261.85	-894.16	1,156	24.67	29.93	11.09
Free Cash Flow	-91.32	18.62	-32.64	57.27	22.42	21.74
Free Cash Flow Growth	-	-	-	155.48%	3.12%	123.64%
Free Cash Flow Margin	-16.35%	4.12%	-8.40%	12.80%	6.07%	7.70%
Free Cash Flow Per Share	-0.85	0.17	-0.35	0.71	0.28	0.27
Cash Income Tax Paid	28.47	11.73	22.37	16.58	20.47	2,578
Levered Free Cash Flow	-73.32	-59.8	-100.31	17.22	-1.56	39.28
Unlevered Free Cash Flow	-72.97	-59.74	-100.28	17.37	-1.5	39.3
Change in Working Capital	-13.16	-13.16	-28.83	0.95	-45.42	41.83

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.