High Templar Tech Limited Sponsored ADR (HTT) Cash Flow Statement
Where HTT’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- CN¥687.1M
- Capital expenditures
- CN¥116.6M 285.0% of revenue
- Free cash flow
- CN¥570.4M 1,394.0% margin
- Returned to shareholders
- CN¥300.5M 53% of free cash flow
- Change in cash
- CN¥2.01B cash at year-end CN¥7.06B
Drawn to scale: where the cash came from and how it was used. Hover for values.
HTT operating cash flow, capex and free cash flow
HTT cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CN¥794.1M2016 | CN¥687.1M2025 | −1.6%/yr | |
| Capital expenditures | CN¥4.6M2016 | CN¥116.6M2025 | +43.2%/yr | |
| Free cash flow | CN¥789.5M2016 | CN¥570.4M2025 | −3.5%/yr | |
| Free cash flow margin | 54.7%2016 | 1,394.0%2025 | +1,339.3 pts | |
| Operating cash flow / net income | 1.382016 | 0.972025 | −0.41 | |
| Stock-based compensation | CN¥22.1M2016 | CN¥02025 | −100.0% | |
| Dividends paid | CN¥838.4M2016 | CN¥02023 | −100.0% | |
| Share buybacks (net) | CN¥421.2M2017 | CN¥300.5M2025 | −4.1%/yr | |
| Capex / revenue | 0.3%2016 | 285.0%2025 | +284.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HTT cash flow by activity
HTT 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).
HTT cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | CN¥708.6M | CN¥91.7M | CN¥39.1M | −CN¥362.1M | CN¥585.9M | CN¥958.8M | CN¥3.26B | CN¥2.49B | CN¥2.16B | CN¥576.7M |
| Depreciation & amortization | CN¥66.8M | CN¥55.5M | CN¥41.3M | CN¥64.3M | CN¥99.5M | CN¥44.0M | CN¥46.2M | CN¥12.1M | CN¥5.8M | CN¥1.5M |
| Stock-based compensation | CN¥0 | CN¥2.3M | CN¥4.9M | CN¥24.1M | CN¥35.3M | CN¥45.6M | CN¥87.3M | CN¥58.0M | CN¥64.1M | CN¥22.1M |
| Change in working capital | CN¥38.4M | −CN¥211.5M | CN¥387.6M | CN¥276.0M | −CN¥19.3M | CN¥52.3M | −CN¥194.9M | −CN¥499.9M | CN¥208.7M | CN¥22.5M |
| Other non-cash items | −CN¥126.7M | −CN¥48.9M | −CN¥120.9M | CN¥258.5M | CN¥220.7M | CN¥1.37B | CN¥2.30B | CN¥1.27B | CN¥633.1M | CN¥171.2M |
| Cash from operating activities | CN¥687.1M | −CN¥111.0M | CN¥352.0M | CN¥260.9M | CN¥922.1M | CN¥2.47B | CN¥5.50B | CN¥3.33B | CN¥3.08B | CN¥794.1M |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥116.6M | −CN¥318.0M | −CN¥565.0M | −CN¥273.6M | −CN¥478.4M | −CN¥221.8M | −CN¥76.4M | −CN¥140.4M | −CN¥11.3M | −CN¥4.6M |
| Investments (net) | CN¥741.7M | −CN¥2.01B | CN¥4.54B | −CN¥390.7M | −CN¥1.69B | — | — | — | — | — |
| Acquisitions & other investing | CN¥220.4M | −CN¥18.9M | −CN¥77.6M | CN¥2.55B | CN¥1.92B | −CN¥3.05B | −CN¥853.2M | −CN¥2.65B | −CN¥694.3M | −CN¥3.59B |
| Cash from investing activities | CN¥845.4M | −CN¥2.34B | CN¥3.90B | CN¥1.88B | −CN¥246.6M | −CN¥3.27B | −CN¥929.6M | −CN¥2.79B | −CN¥705.6M | −CN¥3.60B |
| Financing activities | ||||||||||
| Dividends paid | — | — | CN¥0 | CN¥0 | CN¥0 | — | — | — | — | −CN¥838.4M |
| Share repurchases & issuance (net) | −CN¥300.5M | −CN¥533.2M | −CN¥420.7M | −CN¥145.9M | CN¥0 | −CN¥15.5M | −CN¥2.09B | −CN¥1.41B | −CN¥421.2M | — |
| Net borrowing (repayment) | CN¥856.0M | CN¥720.0M | −CN¥145.3M | −CN¥689.1M | −CN¥76.5M | — | — | — | — | — |
| Shares issued | CN¥100,000 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥0 | CN¥0 | CN¥213 | CN¥141 | −CN¥7.7M | −CN¥1.58B | −CN¥1.29B | −CN¥5.32B | CN¥4.18B | CN¥4.22B |
| Cash from financing activities | CN¥555.6M | CN¥186.8M | −CN¥566.0M | −CN¥835.0M | −CN¥84.2M | −CN¥1.59B | −CN¥3.37B | −CN¥6.73B | CN¥3.75B | CN¥3.38B |
| Summary | ||||||||||
| Net change in cash | CN¥2.01B | −CN¥2.22B | CN¥3.69B | CN¥1.33B | CN¥570.5M | −CN¥2.45B | CN¥1.28B | −CN¥6.24B | CN¥6.05B | CN¥575.7M |
| Cash at end of period | CN¥7.06B | CN¥5.04B | CN¥7.27B | CN¥3.57B | CN¥2.24B | CN¥1.67B | CN¥4.12B | CN¥2.84B | CN¥6.83B | CN¥785.8M |
| Free cash flow | CN¥570.4M | −CN¥429.0M | −CN¥213.0M | −CN¥12.8M | CN¥443.6M | CN¥2.25B | CN¥5.43B | CN¥3.19B | CN¥3.06B | CN¥789.5M |
| Free cash flow margin | 1,394.0% | −198.2% | −168.6% | −2.2% | 26.8% | 61.0% | 61.4% | 41.5% | 64.2% | 54.7% |
| Capex / revenue | 285.0% | 146.9% | 447.2% | 47.4% | 28.9% | 6.0% | 0.9% | 1.8% | 0.2% | 0.3% |
| Operating cash flow / net income | 0.97 | −1.21 | 9.00 | — | 1.57 | 2.58 | 1.69 | 1.34 | 1.42 | 1.38 |
| Jun '25 | Mar '25 | Sep '23 | Jun '23 | |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | CN¥311.8M | CN¥150.1M | −CN¥181.2M | −CN¥76.9M |
| Stock-based compensation | — | CN¥2.1M | CN¥1.4M | CN¥1.3M |
| Change in working capital | CN¥255.4M | CN¥254.3M | — | — |
| Other non-cash items | −CN¥311.8M | −CN¥1.21B | CN¥248.0M | CN¥32.5M |
| Cash from operating activities | CN¥255.4M | −CN¥802.4M | CN¥68.2M | −CN¥43.0M |
| Investing activities | ||||
| Capital expenditures | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Acquisitions & other investing | CN¥1.09B | −CN¥2.93B | CN¥539.7M | −CN¥160.6M |
| Cash from investing activities | CN¥1.09B | −CN¥2.93B | CN¥539.7M | −CN¥160.6M |
| Financing activities | ||||
| Share repurchases & issuance (net) | — | −CN¥540.7M | — | — |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥154.3M | CN¥82.9M | CN¥22.1M | CN¥35.2M |
| Cash from financing activities | CN¥154.3M | −CN¥457.8M | CN¥22.1M | CN¥35.2M |
| Summary | ||||
| Net change in cash | CN¥1.50B | −CN¥809.1M | CN¥299.7M | −CN¥37.2M |
| Cash at end of period | — | CN¥5.04B | CN¥998.6M | CN¥698.9M |
| Free cash flow | CN¥255.4M | −CN¥802.4M | CN¥68.2M | −CN¥43.0M |
| Free cash flow margin | 7,318.1% | −3,111.3% | 230.3% | −387.9% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 0.82 | −5.35 | — | — |
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.
HTT cash generation
In fiscal 2025 (ended December 31, 2025), High Templar Tech Limited Sponsored ADR generated CN¥687.1 million of cash from operations and spent CN¥116.6 million on capital expenditures, leaving free cash flow of CN¥570.4 million, 1,394.0% of revenue. It returned CN¥300.5 million to shareholders through dividends (CN¥0) and net share buybacks (CN¥300.5 million). Cash and equivalents rose by CN¥2.0 billion over the year.
Related: HTT income statement, HTT balance sheet. See the HTT stock overview for the latest quote and news.
HTT cash flow FAQ
What is High Templar Tech Limited Sponsored ADR's free cash flow?
High Templar Tech Limited Sponsored ADR's free cash flow was CN¥570.4 million in fiscal 2025: CN¥687.1 million of operating cash flow minus CN¥116.6 million of capital expenditures It was -CN¥429.0 million a year earlier..
How much cash does High Templar Tech Limited Sponsored ADR generate from operations?
High Templar Tech Limited Sponsored ADR generated CN¥687.1 million of cash from operating activities in fiscal 2025, 0.97 times its net income of CN¥708.6 million.
How much does High Templar Tech Limited Sponsored ADR spend on capital expenditures?
High Templar Tech Limited Sponsored ADR spent CN¥116.6 million on capital expenditures in fiscal 2025, 285.0% of revenue, compared with CN¥318.0 million the year before.
How much stock does High Templar Tech Limited Sponsored ADR buy back?
High Templar Tech Limited Sponsored ADR spent CN¥300.5 million on net share repurchases in fiscal 2025.