Shanxi Installation 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	153.41	154.94	150.88	124.83
Depreciation & Amortization	112.51	126.73	96.63	99.4
Other Amortization	2.22	5.29	0.69	0.42
Loss (Gain) From Sale of Assets	-1.39	-3.61	-4.17	-9.22
Asset Writedown & Restructuring Costs	27.79	10.06	-2.44	-0.8
Loss (Gain) From Sale of Investments	1.73	-5.26	-	-7.95
Loss (Gain) on Equity Investments	-	-	-5.52	5.76
Provision & Write-off of Bad Debts	77.19	77.65	107.04	108.49
Other Operating Activities	400.5	387.25	430.78	427.13
Change in Accounts Receivable	-163.61	-262.15	-2,654	-4,047
Change in Inventory	-109.88	-21.91	-4.62	119.68
Change in Accounts Payable	-221.94	-132.59	1,576	2,750
Change in Unearned Revenue	-	-	781.92	302.07
Change in Other Net Operating Assets	122.47	202.47	-428.26	195.14
Operating Cash Flow	385.47	511.56	45.24	67.52
Operating Cash Flow Growth	-24.65%	1030.67%	-32.99%	-93.08%
Capital Expenditures	-68.87	-768.46	-336.21	-668.55
Sale of Property, Plant & Equipment	0.08	0.28	0.06	4.82
Divestitures	-	-	10	15.94
Sale (Purchase) of Intangibles	-	-	-0.06	-1.28
Investment in Securities	-20	-8.3	-131.67	7.5
Other Investing Activities	1.7	25.71	12.59	-17.84
Investing Cash Flow	-87.09	-750.76	-445.3	-659.42
Long-Term Debt Issued	3,887	3,510	3,167	3,050
Long-Term Debt Repaid	-3,723	-2,958	-2,044	-1,884
Net Debt Issued (Repaid)	164.44	551.17	1,123	1,166
Issuance of Common Stock	14.37	756.48	-	200
Common Dividends Paid	-347.18	-342.57	-28.77	-183.24
Other Financing Activities	-19.34	-16.61	-353.51	-364.61
Financing Cash Flow	-187.71	948.48	740.37	817.67
Foreign Exchange Rate Adjustments	0.01	-	-	-
Net Cash Flow	110.68	709.27	340.31	225.77
Free Cash Flow	316.6	-256.9	-290.97	-601.04
Free Cash Flow Margin	2.59%	-2.34%	-2.27%	-4.53%
Free Cash Flow Per Share	0.23	-0.25	-0.29	-0.69
Cash Interest Paid	-	-	389.03	338.88
Cash Income Tax Paid	-	-	35.94	32.67
Levered Free Cash Flow	424.68	124.66	-240.18	-744.64
Unlevered Free Cash Flow	639.92	335.05	2.12	-499.26
Change in Working Capital	-388.5	-241.51	-728.65	-680.55

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