Hengdeli 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	-65.16	33.89	-80.02	26.28
Depreciation & Amortization	66.42	52.52	47.58	42.01
Other Amortization	0.56	0.59	0.89	0.75
Loss (Gain) From Sale of Assets	-0.12	1.96	8.71	3.92
Asset Writedown & Restructuring Costs	-4.77	-3.96	-	12.86
Loss (Gain) From Sale of Investments	-10.56	-3.16	5.14	-0.19
Loss (Gain) on Equity Investments	-23.17	-16.36	-76.46	-51
Other Operating Activities	-30.55	-37.31	25.32	-5.42
Change in Accounts Receivable	-44.41	49.48	-64.96	-170.93
Change in Inventory	84.97	-19.04	379.12	31.19
Change in Accounts Payable	-58.92	24.69	48.35	63.87
Operating Cash Flow	-85.7	83.29	237.39	-77.63
Operating Cash Flow Growth	-	-64.91%	-	-
Capital Expenditures	-39.46	-215.89	-58.31	-78.05
Sale of Property, Plant & Equipment	0.02	13.62	0.04	0.09
Divestitures	-0.01	-	-	2.86
Sale (Purchase) of Intangibles	-0.57	-0.02	-1.45	-0.84
Investment in Securities	-12.79	-72.05	58.61	-231.29
Other Investing Activities	74.57	110.22	69.69	80.18
Investing Cash Flow	21.76	-164.12	68.59	-227.05
Long-Term Debt Issued	45	72.9	54.9	45
Long-Term Debt Repaid	-90.83	-72.39	-59.4	-10.83
Net Debt Issued (Repaid)	-45.83	0.52	-4.5	34.17
Repurchase of Common Stock	-	-	-16.59	-49.84
Other Financing Activities	1.03	-3.92	-3.36	-1.91
Financing Cash Flow	-44.79	-3.41	-24.46	-17.58
Foreign Exchange Rate Adjustments	54.96	24.87	107.65	-31.71
Net Cash Flow	-53.78	-59.37	389.17	-353.97
Free Cash Flow	-125.16	-132.6	179.08	-155.68
Free Cash Flow Margin	-11.99%	-9.33%	17.23%	-17.73%
Free Cash Flow Per Share	-0.03	-0.03	0.04	-0.04
Cash Interest Paid	4	3.92	3.36	3.11
Cash Income Tax Paid	6.28	1.37	1.67	2.62
Levered Free Cash Flow	-63.2	9.41	296.48	-135.78
Unlevered Free Cash Flow	-60.7	11.87	298.26	-134.13
Change in Working Capital	-18.36	55.12	362.51	-75.87

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