111, Inc. Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-70.01	-64.74	-392.69	-416.88	-669.81	-456.53
Depreciation & Amortization	16.97	16.97	21.78	40.82	27.22	14.02
Loss (Gain) From Sale of Assets	0.03	0.03	0.99	1.39	-0.05	0.16
Stock-Based Compensation	20.15	20.15	226.69	162.07	145.59	75.7
Provision & Write-off of Bad Debts	0.52	0.52	1.95	2.69	1.34	-0.65
Other Operating Activities	-119.59	97.43	118.37	142.29	176.75	46.43
Change in Accounts Receivable	123.2	123.2	-49.9	-86.98	-242.4	-98.28
Change in Inventory	28.11	28.11	59.59	-406.29	-400.55	-304.47
Change in Accounts Payable	132.73	132.73	-176.74	417.5	274	629.02
Change in Other Net Operating Assets	-91.38	-91.38	-257.29	120.24	-0.92	-22.17
Operating Cash Flow	40.72	263.02	-447.24	-23.15	-688.84	-116.78
Capital Expenditures	-15.2	-15.2	-9.82	-31.57	-62.59	-25.51
Sale of Property, Plant & Equipment	0.46	0.46	1.65	1.19	0.32	0.16
Sale (Purchase) of Intangibles	-	-	-0	-0.11	-0.1	-0.29
Investment in Securities	52.12	52.12	159.92	-13.71	122.51	-299.03
Other Investing Activities	-31.14	-	-	-2.96	-	-
Investing Cash Flow	6.23	37.38	151.74	-47.17	60.14	-324.67
Short-Term Debt Issued	-	438.86	919.64	788.15	406.84	398.77
Total Debt Issued	438.86	438.86	919.64	788.15	406.84	398.77
Short-Term Debt Repaid	-	-615.96	-750.13	-868.82	-376.43	-264.6
Total Debt Repaid	-615.96	-615.96	-750.13	-868.82	-376.43	-264.6
Net Debt Issued (Repaid)	-177.09	-177.09	169.51	-80.67	30.41	134.17
Issuance of Common Stock	0.01	0.01	0.22	0.27	2.92	6.33
Repurchase of Common Stock	-13.52	-13.52	-	-	-5.89	-11.98
Other Financing Activities	107.06	-215.64	36.25	103.13	46.9	941.89
Financing Cash Flow	-83.54	-406.24	205.98	22.74	74.34	1,070
Foreign Exchange Rate Adjustments	-0.28	0.63	-3.72	3.71	-3.5	-8.15
Net Cash Flow	-36.86	-105.22	-93.24	-43.88	-557.86	620.81
Free Cash Flow	25.53	247.82	-457.07	-54.73	-751.43	-142.28
Free Cash Flow Margin	0.19%	1.72%	-3.06%	-0.40%	-6.05%	-1.73%
Free Cash Flow Per Share	2.94	28.84	-54.22	-6.57	-90.61	-17.27
Cash Interest Paid	6.16	6.16	10.42	9.55	5.63	10.87
Cash Income Tax Paid	0.1	0.1	0.25	-	-	-
Levered Free Cash Flow	-22.58	4.65	-75.77	105.98	-475.2	20.9
Unlevered Free Cash Flow	-4.14	22.36	-63.18	114.38	-471.77	26.41
Change in Working Capital	192.66	192.66	-424.33	44.46	-369.87	204.1

Updated Dec 17, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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