Maase (MAAS) Cash Flow: Operating & Free Cash Flow

Maase Cash Flow Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Maase Inc. (MAAS) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2017
Period ending	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2017
Operating Activities
Net Income	-0.46	-0.51	-0.04	-0.04	-0.05	-0.03	0.05	0.04
Depreciation & Amortization	0.10	0.06	0.00	0.00	0.01	0.01	0.00	0.00
Deferred Income Tax	-	0.01	0.02	0.02	0.00	0.00	0.00	0.00
Stock Based Compensation	0.07	0.02	-	0.00	0.00	0.00	0.00	0.00
Change in Working Capital	-	-0.05	0.00	0.00	0.03	-0.07	0.05	-0.08
Change in Accounts Receivable	0.29	0.07	0.02	0.03	-0.02	-0.02	0.00	0.12
Change in Accounts Payable	-0.17	-0.06	-0.01	-0.01	0.00	0.00	0.00	0.00
Change in Other Working Capital	-0.32	-0.01	0.01	-0.02	0.04	-0.05	0.04	-0.20
Other Operating Activities	0.30	0.54	0.01	0.00	0.00	0.00	0.00	0.01
Net Cash from Operating Activities	0.01	0.00	-0.03	-0.03	0.00	-0.09	0.10	-0.02
Investing Activities
Capital Expenditures	-0.01	0.00	0.00	0.00	-0.01	0.00	0.00	0.00
Acquisitions	0.00	0.60	-0.01	-0.01	0.00	0.00	0.00	0.06
Purchases of Investments	-0.20	-1.75	0.00	0.00	0.00	0.00	0.00	-0.20
Sales/Maturities of Investments	0.20	2.09	0.00	0.00	0.00	0.00	0.02	0.22
Other Investing Activities	-0.16	-0.09	0.00	0.00	0.05	0.00	0.05	-0.06
Net Cash from Investing Activities	-0.01	0.00	0.00	0.00	0.05	-0.05	0.06	0.02
Financing Activities
Debt Repayment	-0.06	-0.16	-	0.00	0.00	0.00	0.00	-0.06
Common Stock Issued	0.00	0.04	-	0.00	0.00	0.00	0.16	0.00
Common Stock Repurchased	-	-0.01	-	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	0.00	-0.06	-	0.00	0.00	0.00	-0.01	0.03
Net Cash from Financing Activities	0.00	0.00	-	0.00	0.00	0.00	0.16	-0.03
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	0.00	0.00	-0.03	-0.03	0.05	-0.14	0.32	-0.03
Cash at Beginning of Period	-	0.16	0.19	0.19	0.29	0.29	0.11	0.09
Cash at End of Period	-	0.37	0.16	0.16	0.33	0.33	0.43	0.06
Free Cash Flow	0.00	0.00	-0.03	-0.03	-0.01	-0.09	0.09	-0.02
Supplemental Disclosures
Interest Paid	-	0.00	-	-	-	-	-	-
Income Taxes Paid	-	0.01	0.00	0.00	0.00	0.00	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Dec 31, 2025. Data sources and methodology

Frequently Asked Questions About Maase Cash Flow

What is Maase's free cash flow?

Maase generated free cash flow of CNY 280.00K in fiscal 2025 (fiscal year ended Jun 30, 2025), operating cash flow of CNY 10.20M minus CNY 9.91M of capital expenditures. Free cash flow equaled 8.0% of revenue.

How much does Maase spend on capital expenditures?

Maase spent CNY 9.91M on capital expenditures in fiscal 2025, compared with CNY 21.00K a year earlier. That equals 97.3% of operating cash flow.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition