Jinxin Technology Holding Company (NAMI) Cash Flow Statement
Where NAMI’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- −CN¥24.6M −195.4% vs 2024
- Capital expenditures
- CN¥10.8M 2.6% of revenue
- Free cash flow
- −CN¥35.4M −8.6% margin
- Returned to shareholders
- —
- Change in cash
- −CN¥28.3M cash at year-end CN¥64.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
NAMI operating cash flow, capex and free cash flow
NAMI cash flow trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −CN¥43.1M2021 | −CN¥24.6M2025 | — | |
| Capital expenditures | CN¥12.0M2021 | CN¥10.8M2025 | −2.7%/yr | |
| Free cash flow | −CN¥55.1M2021 | −CN¥35.4M2025 | — | |
| Free cash flow margin | −22.2%2021 | −8.6%2025 | +13.7 pts | |
| Operating cash flow / net income | 0.612022 | 0.842024 | +0.23 | |
| Stock-based compensation | CN¥33,0002021 | CN¥42.0M2025 | +497.5%/yr | |
| Capex / revenue | 4.9%2021 | 2.6%2025 | −2.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NAMI cash flow by activity
NAMI 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).
NAMI cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | −CN¥100.8M | CN¥30.6M | CN¥83.5M | CN¥55.1M | −CN¥77.7M |
| Depreciation & amortization | CN¥38.8M | CN¥29.6M | CN¥13.1M | CN¥11.4M | CN¥9.8M |
| Stock-based compensation | CN¥42.0M | CN¥7,000 | CN¥16,000 | CN¥13,000 | CN¥33,000 |
| Change in working capital | −CN¥3.9M | −CN¥36.2M | −CN¥42.9M | −CN¥35.8M | CN¥23.6M |
| Other non-cash items | −CN¥770,000 | CN¥1.9M | CN¥3.0M | CN¥2.9M | CN¥1.2M |
| Cash from operating activities | −CN¥24.6M | CN¥25.8M | CN¥56.7M | CN¥33.5M | −CN¥43.1M |
| Investing activities | |||||
| Capital expenditures | −CN¥10.8M | −CN¥61.5M | −CN¥13.1M | −CN¥9.9M | −CN¥12.0M |
| Investments (net) | −CN¥12.9M | −CN¥30.4M | −CN¥30.6M | −CN¥23.9M | −CN¥23.8M |
| Acquisitions & other investing | CN¥0 | CN¥61.5M | CN¥13.1M | CN¥9.9M | CN¥12.0M |
| Cash from investing activities | −CN¥23.7M | −CN¥30.4M | −CN¥30.6M | −CN¥23.9M | −CN¥23.8M |
| Financing activities | |||||
| Net borrowing (repayment) | CN¥15.0M | CN¥0 | CN¥0 | — | — |
| Shares issued | CN¥5.3M | CN¥22.1M | CN¥153,000 | CN¥0 | CN¥0 |
| Other financing | −CN¥1.7M | CN¥0 | −CN¥6.0M | CN¥68,312 | CN¥0 |
| Cash from financing activities | CN¥18.5M | CN¥22.1M | −CN¥5.9M | CN¥68,312 | CN¥0 |
| Summary | |||||
| Net change in cash | −CN¥28.3M | CN¥17.5M | CN¥20.2M | CN¥3.4M | −CN¥63.9M |
| Cash at end of period | CN¥64.3M | CN¥92.6M | CN¥75.1M | CN¥54.9M | CN¥51.5M |
| Free cash flow | −CN¥35.4M | −CN¥35.7M | CN¥43.6M | CN¥23.7M | −CN¥55.1M |
| Free cash flow margin | −8.6% | −8.8% | 11.5% | 10.0% | −22.2% |
| Capex / revenue | 2.6% | 15.1% | 3.5% | 4.2% | 4.9% |
| Operating cash flow / net income | — | 0.84 | 0.68 | 0.61 | — |
| Jun '26 | Mar '26 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −CN¥9.8M | −CN¥71.7M | −CN¥21.3M | −CN¥3.2M | −CN¥6.4M | −CN¥3.2M | CN¥26.6M | CN¥13.3M | CN¥40.9M | CN¥20.4M | CN¥29.6M |
| Depreciation & amortization | CN¥15.9M | CN¥19.9M | CN¥18.9M | CN¥8.2M | CN¥16.4M | CN¥8.2M | CN¥13.2M | CN¥6.6M | CN¥6.1M | CN¥3.1M | CN¥6.9M |
| Stock-based compensation | — | — | CN¥5.2M | −CN¥2,000 | −CN¥4,000 | −CN¥2,000 | CN¥4,000 | CN¥2,000 | −CN¥19,000 | −CN¥9,500 | CN¥19,000 |
| Change in working capital | −CN¥15.2M | −CN¥17.3M | CN¥1.9M | −CN¥15.4M | −CN¥30.8M | −CN¥15.4M | −CN¥13.8M | −CN¥6.9M | CN¥15.8M | CN¥7.9M | −CN¥27.6M |
| Other non-cash items | CN¥6.3M | CN¥31.3M | −CN¥2.7M | CN¥13.3M | CN¥26.6M | CN¥13.3M | −CN¥6.0M | −CN¥3.0M | −CN¥43.6M | −CN¥21.8M | CN¥28.5M |
| Cash from operating activities | −CN¥2.7M | −CN¥37.8M | CN¥2.0M | CN¥2.9M | CN¥5.8M | CN¥2.9M | CN¥20.0M | CN¥10.0M | CN¥19.2M | CN¥9.6M | CN¥37.5M |
| Investing activities | |||||||||||
| Capital expenditures | −CN¥7,054 | −CN¥5.8M | −CN¥939,107 | −CN¥578,000 | −CN¥1.2M | −CN¥578,000 | −CN¥1 | CN¥0 | −CN¥75,000 | −CN¥37,500 | −CN¥400,000 |
| Acquisitions & other investing | −CN¥27.7M | CN¥37.0M | −CN¥6.8M | CN¥15.4M | CN¥30.7M | CN¥15.4M | −CN¥60.0M | −CN¥30.0M | −CN¥13.3M | −CN¥6.6M | −CN¥16.9M |
| Cash from investing activities | −CN¥27.7M | CN¥31.2M | −CN¥7.7M | CN¥14.8M | CN¥29.6M | CN¥14.8M | −CN¥60.0M | −CN¥30.0M | −CN¥13.4M | −CN¥6.7M | −CN¥17.3M |
| Financing activities | |||||||||||
| Share repurchases & issuance (net) | −CN¥50,137 | — | — | — | — | — | — | — | — | — | — |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | −CN¥5.0M | CN¥14.3M | CN¥486,717 | CN¥12.6M | CN¥25.1M | CN¥12.6M | −CN¥3.0M | −CN¥1.5M | −CN¥2.6M | −CN¥1.3M | −CN¥3.3M |
| Cash from financing activities | −CN¥5.1M | CN¥14.3M | CN¥486,717 | CN¥12.6M | CN¥25.1M | CN¥12.6M | −CN¥3.0M | −CN¥1.5M | −CN¥2.6M | −CN¥1.3M | −CN¥3.3M |
| Summary | |||||||||||
| Net change in cash | −CN¥36.9M | CN¥10.5M | — | — | — | — | — | — | — | −CN¥71.9M | CN¥71.9M |
| Cash at end of period | CN¥26.4M | CN¥64.3M | CN¥53.8M | — | — | — | — | — | — | — | CN¥71.9M |
| Free cash flow | −CN¥2.8M | −CN¥32.0M | CN¥1.0M | CN¥2.3M | CN¥4.6M | CN¥2.3M | CN¥20.0M | CN¥10.0M | CN¥19.1M | CN¥9.6M | CN¥37.1M |
| Free cash flow margin | −1.9% | −15.7% | 0.5% | 2.2% | 2.2% | 2.2% | 10.1% | 10.1% | 9.1% | 9.1% | 21.8% |
| Capex / revenue | 0.0% | 2.8% | 0.5% | 0.6% | 0.6% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% |
| Operating cash flow / net income | — | — | — | — | — | — | 0.75 | 0.75 | 0.47 | 0.47 | 1.27 |
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.
NAMI cash generation
In fiscal 2025 (ended December 31, 2025), Jinxin Technology Holding Company generated -CN¥24.6 million of cash from operations (down 195.4%) and spent CN¥10.8 million on capital expenditures, leaving free cash flow of -CN¥35.4 million, −8.6% of revenue. Cash and equivalents fell by CN¥28.3 million over the year.
Related: NAMI income statement, NAMI balance sheet. See the NAMI stock overview for the latest quote and news.
NAMI cash flow FAQ
What is Jinxin Technology Holding Company's free cash flow?
Jinxin Technology Holding Company's free cash flow was -CN¥35.4 million in fiscal 2025: -CN¥24.6 million of operating cash flow minus CN¥10.8 million of capital expenditures It was -CN¥35.7 million a year earlier..
How much cash does Jinxin Technology Holding Company generate from operations?
Jinxin Technology Holding Company generated -CN¥24.6 million of cash from operating activities in fiscal 2025.
How much does Jinxin Technology Holding Company spend on capital expenditures?
Jinxin Technology Holding Company spent CN¥10.8 million on capital expenditures in fiscal 2025, 2.6% of revenue, compared with CN¥61.5 million the year before.