Taizhou Water Group Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-95.58	-84	55.93	120.31
Depreciation & Amortization	204.59	211.6	94.72	62.27
Other Amortization	0.32	0.14	0.13	0.09
Loss (Gain) on Sale of Assets	0.18	0.06	0.06	-0.04
Loss (Gain) on Sale of Investments	-	-	-	0.06
Loss (Gain) on Equity Investments	27.11	19.85	17.84	-0.47
Change in Accounts Receivable	3.81	-24.56	-22.49	1.05
Change in Inventory	-0.42	0.4	-0.36	-1.11
Change in Accounts Payable	-4.16	-4.58	18.21	1.54
Change in Unearned Revenue	-	-	49.64	30
Change in Other Net Operating Assets	3.92	-1.11	1.31	0.84
Other Operating Activities	92.91	94.1	29.43	30.73
Operating Cash Flow	232.06	212.92	244.85	245.43
Operating Cash Flow Growth	8.99%	-13.04%	-0.24%	58.86%
Capital Expenditures	-338.79	-241.57	-380.25	-756.47
Sale of Property, Plant & Equipment	0.61	0.72	1.81	0.06
Sale (Purchase) of Intangibles	-9.31	-18.93	-1.01	-0.04
Investment in Securities	-	-	-74.83	-161.19
Other Investing Activities	6.87	0.71	-3.31	-16.85
Investing Cash Flow	-340.63	-259.07	-457.59	-934.49
Short-Term Debt Issued	149.99	150	-	-
Long-Term Debt Issued	183.41	460.85	805.5	780
Total Debt Issued	333.4	610.84	805.5	780
Short-Term Debt Repaid	-150	-	-	-
Long-Term Debt Repaid	-75.54	-243.18	-357.83	-2.02
Total Debt Repaid	-225.54	-243.18	-357.83	-2.02
Net Debt Issued (Repaid)	107.86	367.67	447.67	777.98
Common Dividends Paid	-	-15	-34.34	-34.03
Other Financing Activities	-125.86	-128.41	-121.54	-94.55
Financing Cash Flow	-18	224.26	291.79	649.4
Foreign Exchange Rate Adjustments	0.01	-0.04	0.01	-0.02
Net Cash Flow	-126.57	178.07	79.06	-39.67
Free Cash Flow	-106.74	-28.65	-135.41	-511.03
Free Cash Flow Margin	-17.77%	-4.72%	-24.95%	-98.22%
Free Cash Flow Per Share	-0.53	-0.14	-0.68	-2.56
Cash Interest Paid	141.86	137.79	135.18	104.19
Cash Income Tax Paid	30.4	33.65	51.11	31.08
Levered Free Cash Flow	-405.72	-205.33	110.31	-168.91
Unlevered Free Cash Flow	-320.21	-122.9	140.77	-160.2
Change in Working Capital	3.15	-29.84	46.3	32.32

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