Qilu Expressway Company 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	484.59	525.26	781.69	853.43
Depreciation & Amortization	243.5	282.9	299.2	344.07
Other Amortization	1.6	1.03	1.48	1.4
Loss (Gain) From Sale of Assets	-0.01	-0.31	-0.28	0.03
Asset Writedown & Restructuring Costs	0.56	15.7	-	-
Loss (Gain) From Sale of Investments	-	-0.8	-4.87	-
Loss (Gain) on Equity Investments	-0.8	-39.17	-12.71	-0.36
Provision & Write-off of Bad Debts	5.83	12.91	10.04	5.77
Other Operating Activities	11.15	40.43	77.96	102.86
Change in Accounts Receivable	135.9	-296.1	-308.32	-111.15
Change in Inventory	18.27	-26.84	-13.44	-0.04
Change in Accounts Payable	-0.6	402.5	30.66	60.6
Change in Unearned Revenue	0.31	2.54	2.46	-
Change in Other Net Operating Assets	-46.49	44.26	-133.38	90.27
Operating Cash Flow	853.8	964.3	730.48	1,347
Operating Cash Flow Growth	-11.46%	32.01%	-45.77%	18.34%
Capital Expenditures	-4,661	-4,432	-1,492	-135.25
Sale of Property, Plant & Equipment	0.41	1.53	0.48	0.02
Investment in Securities	453.6	96.68	-1,261	462.24
Other Investing Activities	66.14	35.2	-387.18	9.47
Investing Cash Flow	-4,140	-4,298	-3,140	336.47
Long-Term Debt Issued	4,563	3,688	1,554	-
Long-Term Debt Repaid	-1,063	-355.68	-368.96	-683.45
Total Debt Repaid	-1,063	-355.68	-368.96	-683.45
Net Debt Issued (Repaid)	3,500	3,332	1,185	-683.45
Issuance of Common Stock	-	173.76	1,796	-
Common Dividends Paid	-325.78	-383.63	-360	-360
Other Financing Activities	-69.88	-66.59	-115.06	-126.82
Financing Cash Flow	3,104	3,056	2,506	-1,170
Foreign Exchange Rate Adjustments	-0	-2.53	-3.87	-0.36
Net Cash Flow	-182.27	-280.65	92.13	512.75
Free Cash Flow	-3,807	-3,467	-761.91	1,212
Free Cash Flow Growth	-	-	-	17.25%
Free Cash Flow Margin	-54.21%	-61.82%	-25.99%	60.72%
Free Cash Flow Per Share	-1.90	-1.73	-0.38	0.61
Cash Interest Paid	69.88	66.59	93.63	126.82
Cash Income Tax Paid	141.54	165.25	262.92	304.15
Levered Free Cash Flow	-1,105	-3,512	-830.38	872.52
Unlevered Free Cash Flow	-1,059	-3,470	-770.55	952.15
Change in Working Capital	107.39	126.36	-422.03	39.69

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