Tian Lun Gas Holdings 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	300.99	479.56	444.6	1,001
Depreciation & Amortization	363.2	351.4	334.8	322.4
Other Amortization	5.98	3.38	4.25	5.57
Loss (Gain) on Sale of Assets	-26.31	-7.89	-2.57	-0.43
Loss (Gain) on Sale of Investments	17.45	-20.77	-18.19	16.81
Loss (Gain) on Equity Investments	-20.47	-60.15	-46.73	10.25
Asset Writedown	43.75	-	-	18.03
Change in Accounts Receivable	-42.27	2.5	-540.61	-1,114
Change in Inventory	-48.24	-51.58	25.38	-37.41
Change in Accounts Payable	-72.07	-181.94	-65.79	-47.8
Change in Unearned Revenue	-44.34	36.33	-16.15	103.21
Change in Other Net Operating Assets	-61.36	-56.53	54.46	-65.34
Other Operating Activities	439.53	458.06	515.77	193.79
Operating Cash Flow	918.28	1,020	689.22	405.77
Operating Cash Flow Growth	-9.95%	47.96%	69.86%	-70.80%
Capital Expenditures	-285.23	-312.1	-385.54	-415.65
Sale of Property, Plant & Equipment	29.52	17.2	9.35	3.53
Cash Acquisitions	-2.29	-4.52	-116.74	-918.3
Divestitures	-	7.56	-	-
Sale (Purchase) of Intangibles	-19	-5.71	-6.21	-3.5
Investment in Securities	-150.32	-71.51	-19.98	-30
Other Investing Activities	69.77	62.73	58.07	-53.66
Investing Cash Flow	-367.69	-312.19	-465.9	-1,421
Long-Term Debt Issued	5,079	2,943	3,602	4,897
Total Debt Issued	5,079	2,943	3,602	4,897
Long-Term Debt Repaid	-4,940	-3,436	-2,943	-3,692
Net Debt Issued (Repaid)	138.87	-492.16	659.52	1,204
Issuance of Common Stock	-	-	333.77	-
Repurchase of Common Stock	-	-3.2	-269.42	-200.7
Common Dividends Paid	-169.82	-152.69	-223.08	-289.32
Other Financing Activities	-378.76	-434.74	-401.45	-319.92
Financing Cash Flow	-409.71	-1,083	99.34	394.5
Foreign Exchange Rate Adjustments	-2.16	-0.62	2.5	-4.17
Net Cash Flow	138.73	-375.83	325.16	-625.1
Free Cash Flow	633.05	707.67	303.68	-9.88
Free Cash Flow Growth	-10.54%	133.03%	-	-
Free Cash Flow Margin	8.14%	9.16%	4.03%	-0.13%
Free Cash Flow Per Share	0.65	0.73	0.31	-0.01
Cash Interest Paid	402.75	374.48	292.53	214.8
Cash Income Tax Paid	195.64	228.1	210.78	265.63
Levered Free Cash Flow	178.91	170.71	-396.18	-534.64
Unlevered Free Cash Flow	419.4	409.07	-198.78	-391.86
Change in Working Capital	-268.28	-251.22	-542.72	-1,161

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.