Yuanbao 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	1,308	865.85	203.12	18.75	-441.51
Depreciation & Amortization	17.68	14.95	16.14	9.52	8.43
Stock-Based Compensation	74.32	64.02	37.11	27.07	17.13
Other Adjustments	49	26.08	-1.67	-3.71	-0.2
Changes in Receivables	-179.27	-13.36	-24.97	-180.85	47.47
Changes in Accounts Payable	6.7	-39.59	40.55	4.98	1.01
Changes in Accrued Expenses	260.48	253.47	157.98	251.45	-21.15
Changes in Income Taxes Payable	-8.11	41.9	2.25	6.76	0.5
Changes in Other Operating Activities	-33.2	-5.71	9.4	-25.14	101.69
Operating Cash Flow	1,495	1,208	441.97	87.72	-244.99
Operating Cash Flow Growth	23.81%	173.23%	403.85%	-	-
Capital Expenditures	-19.04	-3.34	-4.64	-2.44	-3.16
Sale of Property, Plant & Equipment	0.22	0.06	-	0.34	0.24
Purchases of Investments	-10,384	-3,896	-1,016	-548.69	-232
Proceeds from Sale of Investments	7,687	3,742	1,007	328.6	187
Payments for Business Acquisitions	-	-	-	-6.3	-20.2
Other Investing Activities	-6.9	-	-31.7	9.56	-22.32
Investing Cash Flow	-2,723	-157.57	-45.26	-218.93	-90.44
Long-Term Debt Issued	-	-	-	-	96.77
Long-Term Debt Repaid	-	-	-	-	-96.77
Issuance of Common Stock	204.91	-	18.05	-	-
Net Common Stock Issued (Repurchased)	204.91	-	18.05	-	-
Issuance of Preferred Stock	-	-	-	-	726.37
Net Preferred Stock Issued (Repurchased)	-	-	-	-	726.37
Other Financing Activities	-8.06	-9.11	-	-	-
Financing Cash Flow	196.84	-9.11	18.05	-	726.37
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-4.8	4.85	6.59	24.84	-12.03
Net Cash Flow	-1,036	1,046	421.35	-106.37	378.92
Free Cash Flow	1,476	1,204	437.33	85.28	-248.14
Free Cash Flow Growth	22.57%	175.37%	412.83%	-	-
FCF Margin	33.75%	36.66%	21.38%	10029.60%	-64.38%
Free Cash Flow Per Share	30.98	26.63	37.11	4.46	-12.99
Levered Free Cash Flow	2,233	697.59	-111.27	244.68	-1,131
Unlevered Free Cash Flow	1,465	1,096	396.78	245.1	-316.29

Updated Mar 18, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

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