Concord Medical Services Holdings Limited (CCM) Cash Flow Statement
Where CCM’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- −CN¥201.8M
- Capital expenditures
- CN¥91.3M 19.8% of revenue
- Free cash flow
- −CN¥293.2M −63.7% margin
- Returned to shareholders
- —
- Change in cash
- CN¥61.7M cash at year-end CN¥298.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CCM operating cash flow, capex and free cash flow
CCM cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −CN¥78.1M2016 | −CN¥201.8M2025 | — | |
| Capital expenditures | CN¥118.0M2016 | CN¥91.3M2025 | −2.8%/yr | |
| Free cash flow | −CN¥196.1M2016 | −CN¥293.2M2025 | — | |
| Free cash flow margin | −43.1%2016 | −63.7%2025 | −20.6 pts | |
| Stock-based compensation | CN¥8.4M2016 | CN¥02025 | −100.0% | |
| Dividends paid | CN¥285.8M2016 | CN¥02019 | −100.0% | |
| Share buybacks (net) | CN¥30.4M2016 | CN¥02024 | −100.0% | |
| Capex / revenue | 25.9%2016 | 19.8%2025 | −6.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CCM cash flow by activity
CCM net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
CCM cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −CN¥379.4M | −CN¥652.1M | −CN¥297.7M | −CN¥489.7M | −CN¥271.4M | −CN¥404.0M | −CN¥307.0M | −CN¥234.9M | −CN¥284.3M | −CN¥261.9M |
| Depreciation & amortization | CN¥149.3M | CN¥130.8M | CN¥128.5M | CN¥132.8M | CN¥104.1M | CN¥80.3M | CN¥65.8M | CN¥54.6M | CN¥94.7M | CN¥129.0M |
| Stock-based compensation | CN¥0 | CN¥0 | CN¥0 | −CN¥5.9M | CN¥14.7M | CN¥20.6M | CN¥20.6M | CN¥11.1M | CN¥11.6M | CN¥8.4M |
| Change in working capital | −CN¥97.8M | −CN¥149.3M | −CN¥14.5M | −CN¥60.2M | −CN¥115.7M | −CN¥32.6M | −CN¥58.9M | CN¥133.3M | CN¥45.6M | −CN¥40.3M |
| Other non-cash items | CN¥126.2M | CN¥272.9M | −CN¥92.8M | CN¥206.2M | −CN¥90.9M | CN¥106.0M | CN¥84.2M | −CN¥2.8M | CN¥159.1M | CN¥86.7M |
| Cash from operating activities | −CN¥201.8M | −CN¥397.7M | −CN¥276.5M | −CN¥216.7M | −CN¥359.3M | −CN¥229.8M | −CN¥195.3M | −CN¥38.6M | CN¥26.7M | −CN¥78.1M |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥91.3M | −CN¥410.8M | −CN¥115.7M | −CN¥383.8M | −CN¥760.6M | −CN¥512.9M | −CN¥700.9M | −CN¥764.4M | −CN¥289.1M | −CN¥118.0M |
| Investments (net) | CN¥134.6M | −CN¥593.4M | −CN¥47.7M | −CN¥118.8M | −CN¥566.0M | −CN¥239.3M | −CN¥1.07B | −CN¥1.00B | −CN¥313.0M | −CN¥74.8M |
| Acquisitions & other investing | CN¥10.7M | CN¥410.8M | CN¥115.7M | CN¥383.8M | CN¥760.6M | CN¥218.3M | CN¥700.9M | CN¥764.4M | CN¥289.1M | CN¥118.0M |
| Cash from investing activities | CN¥54.0M | −CN¥593.4M | −CN¥47.7M | −CN¥118.8M | −CN¥566.0M | −CN¥533.9M | −CN¥1.07B | −CN¥1.00B | −CN¥313.0M | −CN¥74.8M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 | −CN¥285.8M |
| Share repurchases & issuance (net) | — | CN¥510.5M | — | — | — | — | — | CN¥0 | CN¥0 | −CN¥30.4M |
| Net borrowing (repayment) | CN¥100.5M | CN¥970.9M | CN¥19.4M | CN¥383.1M | CN¥245.5M | CN¥353.1M | CN¥523.3M | −CN¥238.6M | CN¥438.0M | CN¥64.7M |
| Shares issued | CN¥0 | CN¥510.5M | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥96.8M | −CN¥845.9M | CN¥238.2M | CN¥0 | CN¥396.9M | CN¥785.2M | −CN¥10.0M | CN¥1.44B | −CN¥248.1M | CN¥133.6M |
| Cash from financing activities | CN¥197.2M | CN¥1.15B | CN¥257.7M | CN¥383.1M | CN¥642.4M | CN¥1.14B | CN¥513.3M | CN¥1.20B | CN¥189.9M | −CN¥117.9M |
| Summary | ||||||||||
| Net change in cash | CN¥61.7M | CN¥146.6M | −CN¥68.9M | CN¥432,000 | −CN¥287.5M | CN¥372.1M | −CN¥752.4M | CN¥164.6M | −CN¥96.2M | CN¥273.0M |
| Cash at end of period | CN¥298.7M | CN¥237.0M | CN¥90.4M | CN¥159.3M | CN¥158.9M | CN¥446.4M | CN¥74.3M | CN¥826.7M | CN¥662.2M | CN¥758.4M |
| Free cash flow | −CN¥293.2M | −CN¥808.6M | −CN¥392.2M | −CN¥600.5M | −CN¥1.12B | −CN¥742.7M | −CN¥896.3M | −CN¥803.0M | −CN¥262.4M | −CN¥196.1M |
| Free cash flow margin | −63.7% | −210.6% | −73.0% | −127.2% | −230.6% | −333.0% | −451.8% | −420.6% | −79.3% | −43.1% |
| Capex / revenue | 19.8% | 107.0% | 21.5% | 81.3% | 156.6% | 230.0% | 353.4% | 400.4% | 87.3% | 25.9% |
| Jun '23 | Mar '23 | |
|---|---|---|
| Operating activities | ||
| Net income | −CN¥45.5M | −CN¥115.3M |
| Depreciation & amortization | CN¥56.2M | −CN¥176.3M |
| Stock-based compensation | CN¥3.9M | CN¥14.7M |
| Change in working capital | — | CN¥141.2M |
| Other non-cash items | CN¥1.4M | −CN¥620.2M |
| Cash from operating activities | CN¥16.0M | −CN¥755.9M |
| Investing activities | ||
| Capital expenditures | CN¥0 | −CN¥397.4M |
| Financing activities | ||
| Dividends paid | — | −CN¥55.2M |
| Share repurchases & issuance (net) | — | CN¥50.4M |
| Shares issued | CN¥0 | CN¥0 |
| Other financing | — | −CN¥292.9M |
| Cash from financing activities | — | −CN¥297.7M |
| Summary | ||
| Net change in cash | CN¥13.5M | −CN¥464.8M |
| Cash at end of period | CN¥36.4M | −CN¥464.8M |
| Free cash flow | CN¥16.0M | −CN¥1.15B |
| Free cash flow margin | 11.3% | −810.7% |
| Capex / revenue | 0.0% | 279.4% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported; data from EODHD.
CCM cash generation
In fiscal 2025 (ended December 31, 2025), Concord Medical Services generated -CN¥201.8 million of cash from operations and spent CN¥91.3 million on capital expenditures, leaving free cash flow of -CN¥293.2 million, −63.7% of revenue. Cash and equivalents rose by CN¥61.7 million over the year.
Related: CCM income statement, CCM balance sheet. See the CCM stock overview for the latest quote and news.
CCM cash flow FAQ
What is Concord Medical Services's free cash flow?
Concord Medical Services's free cash flow was -CN¥293.2 million in fiscal 2025: -CN¥201.8 million of operating cash flow minus CN¥91.3 million of capital expenditures It was -CN¥808.6 million a year earlier..
How much cash does Concord Medical Services generate from operations?
Concord Medical Services generated -CN¥201.8 million of cash from operating activities in fiscal 2025.
How much does Concord Medical Services spend on capital expenditures?
Concord Medical Services spent CN¥91.3 million on capital expenditures in fiscal 2025, 19.8% of revenue, compared with CN¥410.8 million the year before.