Xinyi Energy 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	1,011	790.85	898.29	859.31	1,004
Depreciation & Amortization	779.82	699.42	604.44	530.21	455.27
Loss (Gain) on Sale of Assets	-131.34	0.99	0.06	0.14	0.08
Loss (Gain) on Sale of Investments	-3.56	-4.89	-13.49	-12.48	-
Loss (Gain) on Equity Investments	-0.06	0.09	-	-	-
Asset Writedown	49.95	37.99	21.76	29.27	18.12
Stock-Based Compensation	1.19	-0.44	2.2	1.83	0.7
Change in Accounts Receivable	-220.17	-655.86	-888.38	979.97	-563.86
Change in Other Net Operating Assets	89.51	36.24	-10.97	27.91	-8.24
Other Operating Activities	73.14	45.4	54.71	120.44	92.06
Operating Cash Flow	1,651	956.24	675.53	2,565	998.02
Operating Cash Flow Growth	72.66%	41.55%	-73.66%	156.98%	10.68%
Capital Expenditures	-984.01	-2,269	-2,356	-1,368	-672.83
Sale of Property, Plant & Equipment	491.49	0.76	0.04	0.29	0.04
Cash Acquisitions	-	-	-	-	-1,875
Investment in Securities	-147.9	2.02	13.49	12.57	-
Other Investing Activities	-14.96	-30.13	-7.8	1.41	15.38
Investing Cash Flow	-655.38	-2,296	-2,350	-1,354	-2,533
Long-Term Debt Issued	2,680	7,532	5,347	1,097	3,439
Total Debt Issued	2,680	7,532	5,347	1,097	3,439
Long-Term Debt Repaid	-2,784	-6,127	-4,205	-1,121	-1,025
Total Debt Repaid	-2,784	-6,127	-4,205	-1,121	-1,025
Net Debt Issued (Repaid)	-104.15	1,405	1,142	-23.74	2,414
Issuance of Common Stock	-	-	1,476	689.94	-
Common Dividends Paid	-294.96	-291.27	-681.52	-758.33	-920.98
Other Financing Activities	0.72	-9.05	-1,278	-417.69	-149.58
Financing Cash Flow	-398.38	1,105	658.53	-509.82	1,343
Foreign Exchange Rate Adjustments	-0.89	1.16	1.19	-94.43	22.25
Net Cash Flow	596.4	-233.69	-1,015	606.73	-169.09
Free Cash Flow	667.03	-1,312	-1,680	1,197	325.19
Free Cash Flow Growth	-	-	-	268.00%	-36.00%
Free Cash Flow Margin	27.19%	-53.78%	-73.66%	58.43%	17.38%
Free Cash Flow Per Share	0.08	-0.16	-0.21	0.16	0.05
Cash Interest Paid	218.06	311.86	252.08	91.53	28.38
Cash Income Tax Paid	283.54	381.79	292.25	291.81	200.07
Levered Free Cash Flow	531.76	-1,339	-3,382	901.21	-286.17
Unlevered Free Cash Flow	705.19	-1,111	-3,177	1,051	-190.36
Change in Working Capital	-130.66	-619.62	-899.36	1,008	-572.1

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