Star Fashion Culture Holdings Limited (STFS) Cash Flow Statement

NASDAQ: STFSOperating cash, capex, free cash flow and buybacks.

Where STFS’s cash came from and went, FY2025

June 30, 2025 · Chinese yuan

Cash from operations: −CN¥28.4M
Capital expenditures: CN¥0
Free cash flow: −CN¥28.4M
Returned to shareholders: —
Change in cash: −CN¥784,062

Cash from operations

−CN¥28.4M

Investments (net)

−CN¥14.3M

Net borrowing (repayment)

−CN¥423,000

Shares issued

+CN¥47.4M

Other financing

−CN¥5.0M

Change in cash

−CN¥784,062

Drawn to scale: where the cash came from and how it was used. Hover for values.

STFS operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

STFS cash flow trends, FY2022–FY2025

Star Fashion Culture Holdings Limited cash flow trends
Metric	Then	Latest	Change
Operating cash flow	CN¥257,958FY2022	−CN¥28.4MFY2025	—
Capital expenditures	CN¥0FY2022	CN¥0FY2025	—
Free cash flow	CN¥257,958FY2022	−CN¥28.4MFY2025	—
Free cash flow margin	0.7%FY2022	−23.5%FY2025	−24.2 pts
Operating cash flow / net income	0.10FY2022	0.65FY2024	+0.54
Stock-based compensation	CN¥0FY2023	CN¥119.6MFY2025	—
Capex / revenue	0.0%FY2022	0.0%FY2025	0.0 pts

Change is the average annual growth (CAGR) or the difference between the first and latest year.

STFS cash flow by activity

OperatingInvestingFinancingChange in cash

STFS net income vs operating cash flow

Net incomeOperating cash flow

Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).

STFS cash flow statement in Chinese yuan

Star Fashion Culture Holdings Limited annual cash flow statement
	FY2025	FY2024	FY2023	FY2022
Operating activities
Net income	−CN¥130.8M	CN¥11.2M	CN¥7.8M	CN¥2.5M
Depreciation & amortization	CN¥0	CN¥118,320	CN¥461,070	CN¥445,112
Stock-based compensation	CN¥119.6M	CN¥0	CN¥0	—
Change in working capital	−CN¥27.5M	−CN¥3.8M	−CN¥41.8M	−CN¥5.5M
Other non-cash items	CN¥10.3M	−CN¥258,248	CN¥3.9M	CN¥2.8M
Cash from operating activities	−CN¥28.4M	CN¥7.2M	−CN¥29.6M	CN¥257,958
Investing activities
Capital expenditures	CN¥0	CN¥0	CN¥0	CN¥0
Investments (net)	−CN¥14.3M	CN¥0	CN¥0	—
Acquisitions & other investing	CN¥0	—	—	—
Cash from investing activities	−CN¥14.3M	—	—	—
Financing activities
Net borrowing (repayment)	−CN¥423,000	−CN¥32.5M	CN¥29.6M	−CN¥400,000
Shares issued	CN¥47.4M	CN¥31.5M	CN¥0	CN¥0
Other financing	−CN¥5.0M	−CN¥5.0M	CN¥0	CN¥0
Cash from financing activities	CN¥42.0M	−CN¥6.0M	CN¥29.6M	−CN¥400,000
Summary
Net change in cash	−CN¥784,062	CN¥1.2M	CN¥8,563	−CN¥142,042
Cash at end of period	CN¥468,731	CN¥1.3M	CN¥48,527	CN¥39,964
Free cash flow	−CN¥28.4M	CN¥7.2M	−CN¥29.6M	CN¥257,958
Free cash flow margin	−23.5%	6.6%	−42.9%	0.7%
Capex / revenue	0.0%	0.0%	0.0%	0.0%
Operating cash flow / net income	—	0.65	−3.79	0.10

Star Fashion Culture Holdings Limited quarterly cash flow statement
	Mar '26	Sep '25	Mar '25	Dec '24	Sep '24	Mar '24	Dec '23	Sep '23	Jun '23	Mar '23	Dec '22
Operating activities
Net income	−CN¥1.4M	−CN¥2.7M	−CN¥64.1M	−CN¥185,457	−CN¥1.4M	CN¥1.7M	CN¥7.7M	CN¥3.9M	CN¥870,231	CN¥416,785	CN¥6.9M
Depreciation & amortization	CN¥1.5M	CN¥896,318	—	—	—	—	CN¥115,803	CN¥59,180	CN¥243,423	CN¥116,585	CN¥223,840
Stock-based compensation	—	—	CN¥59.8M	—	—	—	—	—	—	—	—
Change in working capital	−CN¥5.5M	−CN¥24.5M	−CN¥7.9M	−CN¥751,201	−CN¥5.5M	−CN¥8.4M	−CN¥580,582	CN¥3.6M	−CN¥32.9M	−CN¥7.6M	−CN¥10.2M
Other non-cash items	−CN¥1.1M	CN¥4.5M	CN¥1.1M	CN¥53,028	CN¥3.7M	CN¥6.8M	−CN¥252,766	−CN¥4.0M	CN¥525,091	−CN¥7.9M	CN¥3.4M
Cash from operating activities	−CN¥6.4M	−CN¥21.7M	−CN¥11.0M	−CN¥883,630	−CN¥3.2M	CN¥51,557	CN¥7.0M	CN¥3.6M	−CN¥31.2M	−CN¥15.0M	CN¥264,740
Investing activities
Capital expenditures	CN¥0	−CN¥21	CN¥0	CN¥0	−CN¥125,626	CN¥0	−CN¥7.0M	CN¥0	−CN¥31.2M	CN¥0	−CN¥264,740
Acquisitions & other investing	—	−CN¥14.0M	−CN¥7.2M	—	—	—	—	—	—	—	—
Cash from investing activities	—	−CN¥14.0M	−CN¥7.2M	—	—	—	—	—	—	—	—
Financing activities
Share repurchases & issuance (net)	—	—	−CN¥3.1M	—	—	—	—	—	—	—	—
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¥54.2M	−CN¥12.0M	−CN¥2.6M	CN¥7.4M	CN¥26.6M	CN¥473,080	−CN¥6.8M	−CN¥3.5M	CN¥31.0M	CN¥14.8M	−CN¥11,955
Cash from financing activities	CN¥54.2M	−CN¥12.0M	−CN¥5.7M	CN¥7.4M	CN¥26.6M	CN¥473,080	−CN¥6.8M	−CN¥3.5M	CN¥31.0M	CN¥14.8M	−CN¥11,955
Summary
Net change in cash	CN¥46.9M	−CN¥47.0M	−CN¥48.2M	CN¥6.4M	CN¥1.0M	−CN¥208,701	CN¥157,323	—	CN¥48,385	−CN¥296,593	CN¥295,635
Cash at end of period	CN¥48.2M	CN¥469,097	CN¥47.3M	CN¥6.6M	CN¥172,417	CN¥28,889	CN¥204,651	CN¥6,680	CN¥48,385	—	CN¥295,635
Free cash flow	−CN¥3.2M	−CN¥22.0M	−CN¥11.0M	−CN¥434,512	−CN¥3.2M	CN¥51,557	CN¥3.6M	CN¥3.6M	−CN¥62.4M	−CN¥15.0M	CN¥0
Free cash flow margin	−9.5%	−49.4%	−40.9%	−9.5%	−9.5%	0.2%	13.4%	13.4%	−370.6%	−185.3%	0.0%
Capex / revenue	0.0%	0.0%	0.0%	0.0%	0.4%	0.0%	26.2%	0.0%	185.3%	0.0%	0.5%
Operating cash flow / net income	—	—	—	—	—	0.03	0.91	0.91	−35.88	−35.88	0.04

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.

STFS cash generation

In fiscal 2025 (ended June 30, 2025), Star Fashion Culture generated -CN¥28.4 million of cash from operations (down 492.6%) and spent CN¥0 on capital expenditures, leaving free cash flow of -CN¥28.4 million, −23.5% of revenue. Cash and equivalents fell by CN¥0.8 million over the year.

Related: STFS income statement, STFS balance sheet. See the STFS stock overview for the latest quote and news.

STFS cash flow FAQ

What is Star Fashion Culture's free cash flow?

Star Fashion Culture's free cash flow was -CN¥28.4 million in fiscal 2025: -CN¥28.4 million of operating cash flow minus CN¥0 of capital expenditures It was CN¥7.2 million a year earlier..

How much cash does Star Fashion Culture generate from operations?

Star Fashion Culture generated -CN¥28.4 million of cash from operating activities in fiscal 2025.