Hengdeli Holdings Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-26.9	-65.16	33.89	-80.02	26.28
Depreciation & Amortization	53.25	66.99	52.52	47.58	42.01
Other Amortization	-	-	0.59	0.89	0.75
Loss (Gain) From Sale of Assets	-0.86	-0.12	1.96	8.71	3.92
Asset Writedown & Restructuring Costs	-	-4.77	-3.96	-	12.86
Loss (Gain) From Sale of Investments	-5.57	-10.56	-3.16	5.14	-0.19
Loss (Gain) on Equity Investments	8.3	-23.17	-16.36	-76.46	-51
Provision & Write-off of Bad Debts	42.86	-	-	-	-
Other Operating Activities	-39.38	-30.55	-37.31	25.32	-5.42
Change in Accounts Receivable	52.31	-44.41	49.48	-64.96	-170.93
Change in Inventory	35.77	84.97	-19.04	379.12	31.19
Change in Accounts Payable	7.95	-58.92	24.69	48.35	63.87
Operating Cash Flow	127.72	-85.7	83.29	237.39	-77.63
Operating Cash Flow Growth	-	-	-64.91%	-	-
Capital Expenditures	-16.57	-39.46	-215.89	-58.31	-78.05
Sale of Property, Plant & Equipment	0.18	0.02	13.62	0.04	0.09
Divestitures	-	-0.01	-	-	2.86
Sale (Purchase) of Intangibles	-0.66	-0.57	-0.02	-1.45	-0.84
Investment in Securities	237.18	-12.79	-72.05	58.61	-231.29
Other Investing Activities	42.54	74.57	110.22	69.69	80.18
Investing Cash Flow	262.67	21.76	-164.12	68.59	-227.05
Long-Term Debt Issued	36.17	45	72.9	54.9	45
Long-Term Debt Repaid	-55.29	-90.83	-72.39	-59.4	-10.83
Net Debt Issued (Repaid)	-19.12	-45.83	0.52	-4.5	34.17
Repurchase of Common Stock	-	-	-	-16.59	-49.84
Other Financing Activities	-2.83	1.03	-3.92	-3.36	-1.91
Financing Cash Flow	-21.96	-44.79	-3.41	-24.46	-17.58
Foreign Exchange Rate Adjustments	-77.67	54.96	24.87	107.65	-31.71
Net Cash Flow	290.77	-53.78	-59.37	389.17	-353.97
Free Cash Flow	111.16	-125.16	-132.6	179.08	-155.68
Free Cash Flow Margin	17.13%	-11.99%	-9.33%	17.23%	-17.73%
Free Cash Flow Per Share	0.03	-0.03	-0.03	0.04	-0.04
Cash Interest Paid	2.14	4	3.92	3.36	3.11
Cash Income Tax Paid	5.59	6.28	1.37	1.67	2.62
Levered Free Cash Flow	114.83	-63.2	9.41	296.48	-135.78
Unlevered Free Cash Flow	116.17	-60.7	11.87	298.26	-134.13
Change in Working Capital	96.03	-18.36	55.12	362.51	-75.87

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