Puxing Energy Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	35.14	59.9	70.84	51.93	103.83	124.19
Depreciation & Amortization	111.38	105.59	90.56	87.92	88.09	89
Other Amortization	0	0	0	0	0	0
Loss (Gain) on Sale of Assets	0.69	0.69	0.44	0.48	1.52	2.79
Change in Accounts Receivable	1.42	1.42	12.23	20.06	-44.68	14.44
Change in Inventory	0.09	0.09	0.14	0.25	0.11	0.13
Change in Accounts Payable	6.32	6.32	0.55	-22.34	7.14	11.04
Change in Other Net Operating Assets	-9.54	-9.54	-9.21	-4.21	-8.42	-
Other Operating Activities	29.91	9.54	7.02	-15.43	21.48	-60.06
Operating Cash Flow	175.41	174.02	172.57	118.67	169.08	181.52
Operating Cash Flow Growth	-3.23%	0.84%	45.42%	-29.81%	-6.86%	-16.96%
Capital Expenditures	-172.02	-188.48	-5.57	-9.39	-17.58	-15.82
Sale (Purchase) of Intangibles	-0.09	-0.09	-	-2.54	-0.36	-
Other Investing Activities	1.03	1.27	0.62	0.58	0.37	0.72
Investing Cash Flow	-43.13	-187.29	-4.95	-11.34	-17.57	-15.1
Long-Term Debt Issued	-	580	418.01	438	524	410
Long-Term Debt Repaid	-	-582.99	-448.49	-410.09	-583.51	-356.99
Net Debt Issued (Repaid)	-62.29	-2.99	-30.49	27.91	-59.51	53.01
Common Dividends Paid	-	-	-	-21.9	-37.87	-98.84
Other Financing Activities	-	-	-95.85	-100	-110	-50
Financing Cash Flow	-62.29	-2.99	-126.34	-93.98	-207.38	-95.83
Net Cash Flow	69.99	-16.26	41.29	13.34	-55.88	70.59
Free Cash Flow	3.4	-14.46	167	109.28	151.5	165.7
Free Cash Flow Growth	-96.85%	-	52.82%	-27.87%	-8.57%	-17.35%
Free Cash Flow Margin	0.60%	-2.71%	32.52%	14.51%	25.18%	28.56%
Free Cash Flow Per Share	0.01	-0.03	0.36	0.24	0.33	0.36
Cash Interest Paid	24.82	26.19	41.84	39.46	49.23	70.5
Cash Income Tax Paid	35.54	26.07	24.81	47.17	33.07	59.38
Levered Free Cash Flow	-113.38	88.67	57.97	112	126.27	276.87
Unlevered Free Cash Flow	-95.34	107.71	80.31	138.69	159.86	305.15
Change in Working Capital	-1.71	-1.71	3.7	-6.24	-45.85	25.6

Source: S&P Global Market Intelligence. Utility template. Financial Sources.