Sinostar PEC Holdings Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	42.89	170.07	217.61	39.44	237.42	158.55
Depreciation & Amortization	181.49	173.26	175.37	165.43	147.47	113.35
Other Amortization	0.1	0.1	0.14	0.12	-	-
Loss (Gain) From Sale of Assets	-0.69	-0.69	-0.1	-2.74	0.11	0.04
Asset Writedown & Restructuring Costs	-2.77	0.48	1.13	0.6	-	1.88
Other Operating Activities	10.98	22.55	145.91	75.18	85.51	76.83
Change in Accounts Receivable	-27.78	-18.25	10.1	34.35	-13.43	5.35
Change in Inventory	22.6	70.6	-92.58	16.48	-40.67	-53.95
Change in Accounts Payable	35.29	18.5	-36.42	-31.7	27.8	44.6
Change in Other Net Operating Assets	-311.08	-31.98	42.4	-142.76	137.05	7.19
Operating Cash Flow	-48.98	404.64	463.55	154.4	581.26	353.84
Operating Cash Flow Growth	-	-12.71%	200.23%	-73.44%	64.27%	71.85%
Capital Expenditures	-27.93	-11.86	-13.19	-46.04	-35.58	-383.18
Sale of Property, Plant & Equipment	1.15	1.15	0.26	4.19	1.09	0.51
Cash Acquisitions	-286.8	-286.8	-	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-0.14	-0.35	-
Investment in Securities	27.91	27.91	-	-	-	-
Other Investing Activities	3.58	8.25	45.28	7.59	0.41	123.38
Investing Cash Flow	-282.09	-261.35	32.34	-34.4	-34.43	-259.29
Long-Term Debt Issued	-	-	-	-	-	500
Total Debt Issued	-	-	-	-	-	500
Long-Term Debt Repaid	-	-260.06	-260.41	-235.39	-131.62	-270.36
Net Debt Issued (Repaid)	-180.06	-260.06	-260.41	-235.39	-131.62	229.64
Common Dividends Paid	-	-17.17	-158.94	-18.48	-15.51	-
Other Financing Activities	267.98	137.43	-77.94	-47.68	-49.13	-38.41
Financing Cash Flow	330.8	-139.8	-497.28	-301.55	-196.26	191.24
Net Cash Flow	-0.27	3.5	-1.39	-181.55	350.58	285.79
Free Cash Flow	-76.91	392.78	450.35	108.36	545.69	-29.34
Free Cash Flow Growth	-	-12.78%	315.61%	-80.14%	-	-
Free Cash Flow Margin	-1.63%	7.20%	8.45%	2.23%	11.57%	-0.92%
Free Cash Flow Per Share	-0.09	0.61	0.70	0.17	0.85	-0.05
Cash Interest Paid	12.23	21.57	34.72	47.68	54.62	56.02
Cash Income Tax Paid	37.61	130.13	45	53.12	134.44	51.85
Levered Free Cash Flow	207.49	623.04	342.83	61.65	373.68	9.77
Unlevered Free Cash Flow	215.13	636.52	364.53	91.45	404.39	33.78
Change in Working Capital	-280.98	38.88	-76.5	-123.64	110.75	3.2

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.