Chagee Holdings 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	1,171	2,516	800.9	-90.72
Depreciation & Amortization	-	60.9	10.37	4.91
Loss (Gain) From Sale of Assets	-	-0.31	0.87	0.96
Loss (Gain) From Sale of Investments	-	-	-0.72	0.71
Loss (Gain) on Equity Investments	-	-0.4	-	-
Stock-Based Compensation	-	0.6	10.52	3.94
Provision & Write-off of Bad Debts	-	6.96	4.1	0.8
Other Operating Activities	472.95	-128.25	11.33	-21.32
Change in Accounts Receivable	-	-31.29	-75.56	-5.07
Change in Inventory	-	-69.42	-9.18	-6.32
Change in Accounts Payable	-	127.8	384.02	31.86
Change in Unearned Revenue	-	175.5	295.39	40.27
Change in Income Taxes	-	-63.5	231.41	8.25
Change in Other Net Operating Assets	-	242.94	270.16	74.77
Operating Cash Flow	1,644	2,838	1,934	43.03
Operating Cash Flow Growth	-42.06%	46.76%	4393.21%	-
Capital Expenditures	-	-225.5	-31.86	-10.73
Sale of Property, Plant & Equipment	-	2.59	0.08	0.5
Cash Acquisitions	-	-10.81	-	-
Sale (Purchase) of Intangibles	-	-15.76	-	-
Investment in Securities	-	-	-99.43	0.45
Other Investing Activities	-825.02	-	4	-1
Investing Cash Flow	-825.02	-229.48	-146.71	-10.98
Short-Term Debt Issued	-	24.96	-	-
Total Debt Issued	-	24.96	-	-
Short-Term Debt Repaid	-	-27.11	-	-
Total Debt Repaid	-	-27.11	-	-
Net Debt Issued (Repaid)	-	-2.15	-	-
Repurchase of Common Stock	-	-210.08	-	-
Other Financing Activities	2,047	38.3	12.78	-0.03
Financing Cash Flow	2,047	-173.93	344.2	-0.03
Foreign Exchange Rate Adjustments	-0.99	11.76	-9.16	-
Net Cash Flow	2,865	2,446	2,122	32.02
Free Cash Flow	1,644	2,612	1,902	32.3
Free Cash Flow Growth	-37.06%	37.35%	5787.76%	-
Free Cash Flow Margin	12.74%	21.06%	40.98%	6.57%
Free Cash Flow Per Share	9.98	25.96	12.45	0.32
Cash Income Tax Paid	-	644.27	206.97	0.07
Levered Free Cash Flow	865.94	1,965	1,647	-
Unlevered Free Cash Flow	865.94	1,965	1,647	-
Change in Working Capital	-	382.04	1,096	143.76

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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