Suzhou Highfine Biotech 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	Dec '21 Dec 31, 2021
Net Income	110.84	134.05	98.97	129.37	111.4
Depreciation & Amortization	37.89	19.99	14.19	11.66	6.86
Other Amortization	0.37	0.08	0.18	0.12	0.06
Loss (Gain) From Sale of Assets	0.91	0.03	0	0.12	0.03
Asset Writedown & Restructuring Costs	13.47	0.36	0.08	0.28	1.79
Loss (Gain) From Sale of Investments	-17.25	-16.59	-1.73	-0.4	-1.18
Other Operating Activities	5.67	1.61	4.97	-3.44	2.42
Change in Accounts Receivable	146.15	-25.75	-18.72	5.08	-45.34
Change in Inventory	-13.75	-4.37	-6.08	-35.35	-26.57
Change in Accounts Payable	-211.37	13.14	-6.54	32.09	27.37
Change in Other Net Operating Assets	7.93	4.54	2.23	0.59	0.33
Operating Cash Flow	77.67	126.37	87.83	138.67	75.97
Operating Cash Flow Growth	-38.54%	43.88%	-36.66%	82.53%	-14.80%
Capital Expenditures	-210.63	-107.75	-120.47	-81.4	-53.56
Sale of Property, Plant & Equipment	0.16	0.08	0.86	0.05	0
Cash Acquisitions	-55.6	-	-	-	-
Investment in Securities	320.68	-1,310	29.47	-15	-35
Other Investing Activities	42.15	478.15	-475.21	2.13	46.7
Investing Cash Flow	96.76	-939.35	-565.36	-94.23	-41.85
Long-Term Debt Issued	114.47	-	-	-	-
Total Debt Issued	114.47	-	-	-	-
Short-Term Debt Repaid	-	-	-	-	-1
Long-Term Debt Repaid	-195.99	-2.31	-1.41	-1.5	-0.85
Total Debt Repaid	-195.99	-2.31	-1.41	-1.5	-1.85
Net Debt Issued (Repaid)	-81.52	-2.31	-1.41	-1.5	-1.85
Issuance of Common Stock	4.6	-	1,683	-	-
Repurchase of Common Stock	-	-42	-	-	-
Common Dividends Paid	-43.44	-40.19	-27	-20.25	-0.01
Other Financing Activities	-1.95	-	-21.17	-	-
Financing Cash Flow	-122.31	-84.5	1,634	-21.75	-1.86
Foreign Exchange Rate Adjustments	-6.71	3.33	-0.01	1.98	-2.33
Net Cash Flow	45.4	-894.16	1,156	24.67	29.93
Free Cash Flow	-132.96	18.62	-32.64	57.27	22.42
Free Cash Flow Growth	-	-	-	155.48%	3.12%
Free Cash Flow Margin	-22.08%	4.12%	-8.40%	12.80%	6.07%
Free Cash Flow Per Share	-1.24	0.17	-0.35	0.71	0.28
Cash Income Tax Paid	34.98	11.73	22.37	16.58	20.47
Levered Free Cash Flow	-83.86	-59.8	-100.31	17.22	-1.56
Unlevered Free Cash Flow	-83.86	-59.74	-100.28	17.37	-1.5
Change in Working Capital	-74.23	-13.16	-28.83	0.95	-45.42

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