DDC Enterprise Limited (DDC)

DDC Enterprise Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-338	-156.99	-161.98	-122.25	-458.68
Depreciation & Amortization	1.84	4.67	6.11	3.54	5.11
Stock-Based Compensation	218.33	19.14	83.86	38.99	-
Other Adjustments	95.97	94.32	22.49	38.41	346.12
Change in Receivables	-9.94	-4.49	-4.49	-21.01	-2.73
Changes in Inventories	-3.69	4.14	-0.96	3.09	-5.9
Changes in Accounts Payable	1.22	-9.36	0.52	0.67	3.59
Changes in Accrued Expenses	-14.6	21.28	22.38	37.01	25.71
Changes in Unearned Revenue	1.6	-1.4	4.8	4.94	-0.36
Changes in Other Operating Activities	-230.33	-84.24	-61.79	-20.49	-4.27
Operating Cash Flow	-277.6	-112.91	-89.35	-37.08	-91.43
Capital Expenditures	-0.03	-0.38	-0.2	-0.19	-0.18
Sale of Property, Plant & Equipment	-	0.08	0.06	-	0.02
Purchases of Intangible Assets	-459.74	-	-	-	-
Proceeds from Sale of Intangible Assets	22.62	-	-	-	-
Purchases of Investments	-	-	-121.78	-0.35	-64.74
Proceeds from Sale of Investments	-	-	-	-	63.64
Payments for Business Acquisitions	-	-10.55	-9.16	0.22	-12.85
Other Investing Activities	-	-	-4.08	-0.13	5.75
Investing Cash Flow	-437.15	-10.86	-135.16	-0.44	-8.36
Short-Term Debt Issued	42.8	55.5	19.53	15.74	47.7
Short-Term Debt Repaid	-55.87	-24.5	-59.26	-14	-49.18
Net Short-Term Debt Issued (Repaid)	-13.07	31	-39.73	1.74	-1.48
Long-Term Debt Issued	573.64	88	176.96	56.63	69.72
Long-Term Debt Repaid	-22.75	-29.7	-134.39	-6.43	-34.7
Net Long-Term Debt Issued (Repaid)	550.9	58.29	42.57	50.2	35.02
Issuance of Common Stock	138.83	14.98	213.17	-	-
Net Common Stock Issued (Repurchased)	138.83	14.98	213.17	-	-
Issuance of Preferred Stock	-	-	-	-	81.71
Net Preferred Stock Issued (Repurchased)	-	-	-	-	81.71
Other Financing Activities	-	-	-	-0.59	0.51
Financing Cash Flow	676.66	104.27	216	51.35	115.76
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1.73	1.16	-9.11	5.83	2.65
Net Cash Flow	-39.82	-18.33	-17.62	19.65	18.63
Free Cash Flow	-277.63	-113.29	-89.55	-37.27	-91.6
FCF Margin	-101.31%	-41.45%	-43.58%	-20.76%	-44.65%
Free Cash Flow Per Share	-30.23	-80.15	-310.10	-129.07	-474.14
Levered Free Cash Flow	-44.17	-132.97	-298.39	-150.82	-782.67
Unlevered Free Cash Flow	-501.89	-209.26	-180.02	-53.52	-90.13

Updated Jan 26, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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