Ugreen Group 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	704.59	462.28	387.52	327.43	296.6
Depreciation & Amortization	50.57	45.47	44.05	38.72	26.71
Other Amortization	14.15	9.82	7.88	7.98	4.24
Loss (Gain) From Sale of Assets	0.03	-0.03	-0.22	-0.03	0
Asset Writedown & Restructuring Costs	15.21	9.18	9.07	-1.28	23.18
Loss (Gain) From Sale of Investments	-17.03	-11.75	-6.43	-3.56	-4.72
Provision & Write-off of Bad Debts	16.64	-1.81	0.52	4.98	0.42
Other Operating Activities	-1.21	-7.81	8.83	10.39	21.84
Change in Accounts Receivable	-572.7	26.78	-100.21	-39.12	-34.73
Change in Inventory	-781.08	-247.97	-265.55	-11.93	-206.04
Change in Accounts Payable	524.82	308.78	74.85	74.94	-5.27
Change in Other Net Operating Assets	27.5	40.27	18.93	50.22	33.34
Operating Cash Flow	-35.33	623.88	173.4	454.2	151.28
Operating Cash Flow Growth	-	259.79%	-61.82%	200.23%	-44.64%
Capital Expenditures	-47.25	-28.09	-23.92	-29.1	-21.21
Sale of Property, Plant & Equipment	0.1	0.05	0.61	0.05	0.02
Divestitures	-	-	-	0.23	-
Investment in Securities	624.67	-1,070	-	6	-7
Other Investing Activities	-5.64	7.12	6.84	2.84	4.88
Investing Cash Flow	571.88	-1,091	-16.46	-19.98	-23.3
Long-Term Debt Repaid	-45.94	-43.65	-40.05	-37.25	-23.28
Net Debt Issued (Repaid)	-45.94	-43.65	-40.05	-37.25	-23.28
Issuance of Common Stock	-	808.22	-	-	313.68
Common Dividends Paid	-248.95	-124.47	-	-59.81	-182.5
Other Financing Activities	-4.31	-34.32	-5.01	-9.27	-2.36
Financing Cash Flow	-299.19	605.77	-45.05	-106.33	105.54
Foreign Exchange Rate Adjustments	6.43	11.69	4.25	-0.35	-9.38
Net Cash Flow	243.79	150.42	116.14	327.54	224.14
Free Cash Flow	-82.58	595.8	149.48	425.1	130.07
Free Cash Flow Growth	-	298.58%	-64.84%	226.81%	-48.23%
Free Cash Flow Margin	-0.87%	9.66%	3.11%	11.07%	3.77%
Free Cash Flow Per Share	-0.20	1.52	0.40	1.14	0.36
Cash Income Tax Paid	642.52	260.34	241.36	240.86	197.96
Levered Free Cash Flow	-306.88	459.54	5.25	306.2	-38.43
Unlevered Free Cash Flow	-302.9	463.24	9.57	310.88	-35.39
Change in Working Capital	-818.28	118.53	-277.81	69.57	-216.99

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